FAC Explorer

Finding 1175481 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-02-26
Audit: 389276
Organization: Center Township Elderly Housing, Inc. (PA)
Auditor: GOFF BACKA ALFERA & COMPANY LLC

AI Summary

  • Issue: The Project missed timely monthly RFR deposits, leading to an underfunded account as of September 30, 2025.
  • Trend: This pattern of late deposits could indicate ongoing compliance risks with HUD requirements.
  • Follow-up: Ensure future deposits are made on time and review management's funding processes to prevent recurrence.

Finding Text

For the year ended September 30, 2025, the Project did not make the required monthly RFR deposits on a timely basis. The account was not fully funded in accordance with the HUD Regulatory Agreement as of September 30, 2025. Management subsequently funded the shortfall on October 7, 2025.

Corrective Action Plan

Management will update internal procedures to ensure that RFR deposits are recorded only when cash is transferred and will review the RFR account regularly to ensure compliance with HUD requirements.

Categories

HUD Housing Programs

Programs in Audit

ALN Program Name Expenditures
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $3.39M
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $184,605