FAC Explorer

Finding 1229905 (2026-001)

Material Weakness Repeat Finding
Requirement
A
Questioned Costs
-
Year
2026
Accepted
2026-09-16
Audit: 411127
Organization: Agape Central Texas Properties, Inc. (TX)
Auditor: DAVIS RAY & CO PC

AI Summary

  • Answer: The project owner engaged in unauthorized transactions with related parties.
  • Trend: This behavior indicates a pattern of potential conflicts of interest and lack of oversight.
  • List: Immediate review of all related party transactions is recommended, along with enhanced monitoring procedures.

Finding Text

Project owner made unauthorized advances to related parties

Corrective Action Plan

The unauthorized advances have been reimbursed in the subsequent year

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1229906 2026-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $9.95M