Oversight Agency for Audit, Vernon Senior Citizens Housing Development Corporation, operating as Sunshine Center Apartments, respectfully submits the following corrective action plan for the year ended March 31, 2025. Name and address of independent public accounting firm: Bellows Associates, P.A., ...
Oversight Agency for Audit, Vernon Senior Citizens Housing Development Corporation, operating as Sunshine Center Apartments, respectfully submits the following corrective action plan for the year ended March 31, 2025. Name and address of independent public accounting firm: Bellows Associates, P.A., 5401 N University Drive, Suite 201, Coral Springs, Florida 33067 Audit period: April 1, 2024 through March 31, 2025 The findings from the March 31, 2025 schedule of findings and questioned costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. SECTION III - FINDINGS AND QUESTIONED COSTS – MAJOR FEDERAL AWARD PROGRAMS AUDIT FINDING No. 2025-001: Section 207/223(f) Mortgage Insurance for the Refinancing of Existing Multifamily Housing Projects, ALN 14.155 Recommendation: Management should keep track of the balance in the residual receipts account available for offsetting Section 8 HAP payments. Also, management should ensure timely submission of payment requests through the contract administrator upon discovery of residual receipts available for recapture. Action Taken: Property accountants will notify the Community Managers and Regional Managers of any residual receipt excess funds monthly to ensure proper and timely payment requests. Management will submit the excess funding in September of 2025 to rectify the current situation.