FAC Explorer

Finding 1153828 (2024-002)

Material Weakness Repeat Finding
Requirement
A
Questioned Costs
-
Year
2024
Accepted
2025-09-22
Audit: 366918
Organization: Trinity Acres Housing Corporation (IL)
Auditor: Alexander Mannie & Company PC

AI Summary

  • Answer: The Corporation has an outstanding balance of $12,526.95 due to overpayment of management fees.
  • Trend: The owed amount decreased from $18,561 in previous years to $12,526.95 as of December 31, 2024.
  • List: This balance was not approved by HUD, marking it as a compliance finding that needs to be addressed.

Finding Text

In the prior years, the Corporation owed the project $18,561 for overpayment of the management. Per audit compliance procedures, the Due to Owner was not approved by HUD and is considered a finding. The balance due as of December 31, 2024, is $12,526.95.

Corrective Action Plan

On April 10, 2025, the Corporation reimbursed the Project for the Management Fee Overpayment and Payroll Cost for the balance due of $12,526.95.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 1153826 2024-001
    Material Weakness Repeat
  • 1153827 2024-001
    Material Weakness Repeat
  • 1153829 2024-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $2.81M
14.195 Project-Based Rental Assistance (pbra) $689,145