Oversight agency for audit: U.S. Department of Housing and Urban Development
Mount St. Mary's Housing Development Fund Company, Inc. respectfully submits the following corrective action plan for the year ended December 31, 2023.
Name and address of independent public accounting firm: EFPR Group, CPAs, PLLC
6390 Main Street, Suite 200
Williamsville, NY 14221
Audit period: December 31, 2023
The finding from the December 31, 2023 schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Section I of the schedule, Summary of Auditors’ Results, does not include findings and is not addressed.
(A) Findings - Financial Statement Audit
None
(B) Findings - Federal Award Programs Audits
U.S. Department of Housing and Urban Development
(1) Finding 2023-001: Section 202 Capital Advance Funding and Project Rental Assistance Contract, Assistance Listing Number 14.157
(a) Recommendation:
The Company should collect the balance due as soon as possible.
(b) Action Taken:
In March 2024, the Company obtained the final payment to repay the $11,700 of past due receivables. Management has established a new report to monitor the shared expenses on a monthly basis and ensure timely payment of shared expenses.
If the U.S. Department of Housing and Urban Development has questions regarding this plan, please call James Lonergan at 716-847-1635.
Sincerely yours,
_____________________________
James Lonergan, Executive Director