U.S. Department of Housing and Urban Development
Pompei Housing Development Fund Company, Inc. (Pompei North Apartments), HUD Project No. 014-11249 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 finding from the 2023 schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the number assigned in the schedule.
FINDINGS – FINANCIAL STATEMENT AUDIT
None
FINDINGS – FEDERAL AWARD PROGRAM AUDIT
Finding 2023-001: Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, Federal Assistance Listing Number 14.155
Condition: The required deposit of $53,845 for the year ended March 31, 2022 was made after the 60 day deadline.
Recommendation: Pompei North Apartments should ensure residual receipts are made within 60 days of year-end in accordance with the HUD Regulatory Agreement.
Action Taken: The required deposit was made in October 2022.
Completion Date: October 2022
Name of Contact Person Responsible for Corrective Action: Kyle Lyskawa, CFO, (315) 424-1821.