U.S. Department of Housing and Urban Development
Loretto O’Brien Road Housing Development Fund Company, Inc. (O’Brien Road Senior Apartments), HUD Project No. 014-EE262/NY06-S061-007 respectfully submits the following corrective action plan for the year ended March 31, 2023.
Name and address of independent public accounting firm:
Bonadio & Co., LLP
432 North Franklin Street #60
Syracuse, New York 13204
Audit period:
April 1, 2022 – March 31, 2023
The findings from the 2023 schedule of findings and questioned costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule.
FINDINGS – FINANCIAL STATEMENT AUDIT
None
FINDINGS – FEDERAL AWARD PROGRAM AUDIT
Finding 2023-001: Supportive Housing for the Elderly (Section 202), Federal Assistance Listing Number 14.157
Recommendation: Our auditors recommended that we make the remaining $1,400 deposit into the reserve for replacements when cash flow was sufficient.
Action Taken: O’Brien Road Senior Apartments made the required payment in April 2023.
Name of Contact Person Responsible for Corrective Action: Kyle Lyskawa, CFO, (315) 424-1821.
Completion Date: April 2023