EIN: 020341052
UEI: CK3HQ84NC7M8
Audited by: LEONE, MCDONNELL & ROBERTS, P.A.
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on December 17, 2025. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by June 17, 2026 (74 days ago).
What is a management decision? →FAC accepted this audit on October 25, 2024 — management decision was due April 25, 2025.
FAC accepted this audit on October 24, 2023 — management decision was due April 24, 2024.
Several tenant files had recertification errors related to income and/or expense verification/calculation. Criteria: HUD requires each tenant be recertified annually. The recertification includes calculating the tenant income and expenses to arrive at the tenant rent and HUD rent. Effect: Tenant and HUD portions of rent could be inaccurate. Context: Auditor selected tenant files to test the tenant eligibility, income and allowable expenses and noted multiple files in which the income and/or expenses were not either verified correctly or calculated correctly. Cause: Oversight by property manager. Recommendation: A procedure be implemented to ensure that all tenant income and expenses are calculated correctly and that management performs reviews of the files at least annually.
Show full finding ▾Hide full finding ▴Information or Universe Population Size: Population was 82 units. Sample Size Information: 10 files were selected for testing. Condition: Several tenant files had recertification errors related to income and/or expense verification/calculation. Criteria: HUD requires each tenant be recertified annually. The recertification includes calculating the tenant income and expenses to arrive at the tenant rent and HUD rent. Effect: Tenant and HUD portions of rent could be inaccurate. Context: Auditor selected tenant files to test the tenant eligibility, income and allowable expenses and noted multiple files in which the income and/or expenses were not either verified correctly or calculated correctly. Cause: Oversight by property manager. Recommendation: A procedure be implemented to ensure that all tenant income and expenses are calculated correctly and that management performs reviews of the files at least annually.
Completed corrective action: Manager completed correction and new HUD 50059A recertification's corrected for July 31, 2023. Ongoing Corrective Action: Additional file review after recertifications and move-ins. Additional trainings for Income VS Assets for all managers.
FAC accepted this audit on October 16, 2022 — management decision was due April 16, 2023.
FAC accepted this audit on October 31, 2021 — management decision was due May 1, 2022.
A deficiency in internal control over compliance existed because the required monthly deposits to the reserve for replacement were deficient. Criteria: Internal controls over compliance should be in place to ensure that required funding of the reserve for replacement is adequate each month. Effect: This deficiency resulted in the Corporation?s noncompliance with the required funding of the reserve for replacement account. Cause: The mortgage servicer and management agent were notified of reserve for replacement (RFR) increase effective September 1, 2020. The mortgage servicer did not withdraw/deposit the new amount on September 1. Rather the servicer continued to fund the RFR with the amount from the preceding agreement. Management did not identify the deficiency until after year end resulting in a deficiency of $910 in RFR funding. Recommendation: The Corporation should establish procedures to ensure that required funding of the reserve for replacement is adequate each month. Views of Responsible Officials and Planned Corrective Actions: The mortgagor KeyBank withdraws the mortgage payment from our rental account automatically on the first of the month. This withdrawal includes the interest and principle due along with escrows for insurance and tax, and the monthly deposit for the Reserve for Replacement amounts. The deficiency in RFR funding is due to an oversight at the mortgagor. After communication with the mortgagor for instruction to remit the missing deposit, the check was issued and mailed on October 22, 2021. Notification from the program analyst discovered the error but because it occurred in the final month of the fiscal year that management was unable to remit the missing deposit within the fiscal year time frame. Management will review the bank activity after a change in the deposit amounts more timely to insure the deposit change was updated correctly.
Show full finding ▾Hide full finding ▴FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL AWARD PROGRAMS AUDIT DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Finding No. 2021-001: Mortgage Insurance Rental Housing, Assistance Listing #14.134 Significant Deficiency Condition: A deficiency in internal control over compliance existed because the required monthly deposits to the reserve for replacement were deficient. Criteria: Internal controls over compliance should be in place to ensure that required funding of the reserve for replacement is adequate each month. Effect: This deficiency resulted in the Corporation?s noncompliance with the required funding of the reserve for replacement account. Cause: The mortgage servicer and management agent were notified of reserve for replacement (RFR) increase effective September 1, 2020. The mortgage servicer did not withdraw/deposit the new amount on September 1. Rather the servicer continued to fund the RFR with the amount from the preceding agreement. Management did not identify the deficiency until after year end resulting in a deficiency of $910 in RFR funding. Recommendation: The Corporation should establish procedures to ensure that required funding of the reserve for replacement is adequate each month. Views of Responsible Officials and Planned Corrective Actions: The mortgagor KeyBank withdraws the mortgage payment from our rental account automatically on the first of the month. This withdrawal includes the interest and principle due along with escrows for insurance and tax, and the monthly deposit for the Reserve for Replacement amounts. The deficiency in RFR funding is due to an oversight at the mortgagor. After communication with the mortgagor for instruction to remit the missing deposit, the check was issued and mailed on October 22, 2021. Notification from the program analyst discovered the error but because it occurred in the final month of the fiscal year that management was unable to remit the missing deposit within the fiscal year time frame. Management will review the bank activity after a change in the deposit amounts more timely to insure the deposit change was updated correctly.
October 27, 2021 HUD Service Office Director Manchester, NH Rural Housing for the Elderly, Inc., DBA Greenville Falls, respectfully submits the following corrective action plan for the year ended July 31, 2021. Ouellette & Associates, P.A. 1111 Lisbon Street, Lewiston, Maine 04240 Audit Period: Year Ended July 31, 2021 The findings from the July 31, 2021 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 No matters were reported FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL AWARD PROGRAMS AUDIT DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Finding No. 2021-001: Mortgage Insurance Rental Housing, Assistance Listing #14.134 Significant Deficiency a. Recommendation: The Corporation should establish procedures to ensure that required funding of the reserve for replacement is adequate each month. b. Action Taken: The Corporation has updated its monthly procedures to ensure the amount of the monthly deposit to the reserve for replacement is made accordance with HUD requirements. If HUD has questions regarding this plan, please call James Chaisson at 603-668-8010. Sincerely yours, _______________________________________ James Chaisson, Chief Fiscal Officer
FAC accepted this audit on November 23, 2020 — management decision was due May 23, 2021.
FAC accepted this audit on November 5, 2019 — management decision was due May 5, 2020.
FAC accepted this audit on November 4, 2018 — management decision was due May 4, 2019.
FAC accepted this audit on November 26, 2017 — management decision was due May 26, 2018.
FAC accepted this audit on December 1, 2016 — management decision was due June 1, 2017.
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