EIN: 060923438
UEI: ZQ76E69YPP55
Audited by: Whittlesey PC
Oversight agency: 10 [Department of Agriculture]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 1, 2026. 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 October 1, 2026 (26 days from today).
What is a management decision? →During our audit, we noted that the replacement reserve established for the program was not funded at the minimum level required by the USDA-RD approved budget. As of the fiscal year‑end, the reserve balance was approximately $7,500 below the required threshold. Effect: The Project is not in compliance with the replacement reserve funding requirement. Cause: The Project relied on outdated reserve schedules and did not reconcile actual contributions to required amounts. Additionally, the Project’s monitoring controls were insufficient to identify the underfunding on a timely basis. Recommendation: We recommend that management implement a quarterly review process to verify that replacement reserve contributions meet required levels. We also recommend management fund the reserve shortage promptly and develop a plan to prevent future underfunding. Reporting Views of Responsible Officials: Management agrees with the finding, see the Corrective Action Plan.
Show full finding ▾Hide full finding ▴Finding No. 2025-001 – Replacement Reserve Funding – Other Matter Criteria: The Project is required to make annual deposits to a replacement reserve account in accordance with its approved budget. Condition: During our audit, we noted that the replacement reserve established for the program was not funded at the minimum level required by the USDA-RD approved budget. As of the fiscal year‑end, the reserve balance was approximately $7,500 below the required threshold. Effect: The Project is not in compliance with the replacement reserve funding requirement. Cause: The Project relied on outdated reserve schedules and did not reconcile actual contributions to required amounts. Additionally, the Project’s monitoring controls were insufficient to identify the underfunding on a timely basis. Recommendation: We recommend that management implement a quarterly review process to verify that replacement reserve contributions meet required levels. We also recommend management fund the reserve shortage promptly and develop a plan to prevent future underfunding. Reporting Views of Responsible Officials: Management agrees with the finding, see the Corrective Action Plan.
Management acknowledges the finding regarding the replacement reserve account not being funded at the minimum level required by the USDA‑RD approved budget. To address this issue, the Project will make a deposit to fully restore the replacement reserve to the required threshold in accordance with USDA‑RD guidelines. In addition, we will continue to monitor reserve balances throughout the year and communicate with USDA‑RD if significant variances arise.
FAC accepted this audit on March 31, 2025 — management decision was due October 1, 2025.
FAC accepted this audit on April 1, 2024 — management decision was due October 1, 2024.
FAC accepted this audit on June 23, 2023 — management decision was due December 23, 2023.
During our audit testing, we noted that some bank reconciliations were not prepared monthly, but rather they were prepared in batches months after the statement date. Cause: Bank statements are not being reviewed and reconciled monthly. Effect: Transactions may be omitted from the general ledger system or bank errors may go undetected if accounts are not reconciled monthly. Questioned Costs: N/A Recommendation: We recommend that management ensure that all bank accounts are reconciled monthly to ensure proper recording of transactions. Management?s Views and Corrective Action Plan: Management has implemented the protocol with staff members to reconcile the bank statements by the 10th of each month.
Show full finding ▾Hide full finding ▴2022-001 BANK RECONCILIATIONS Criteria: Bank reconciliations should be prepared in a timely manner (i.e. monthly). Condition: During our audit testing, we noted that some bank reconciliations were not prepared monthly, but rather they were prepared in batches months after the statement date. Cause: Bank statements are not being reviewed and reconciled monthly. Effect: Transactions may be omitted from the general ledger system or bank errors may go undetected if accounts are not reconciled monthly. Questioned Costs: N/A Recommendation: We recommend that management ensure that all bank accounts are reconciled monthly to ensure proper recording of transactions. Management?s Views and Corrective Action Plan: Management has implemented the protocol with staff members to reconcile the bank statements by the 10th of each month.
CORRECTIVE ACTION PLAN April 25, 2023 Federal Audit Clearinghouse 1201 East 10th Street Jefferson, Indiana 47132 Madison Interfaith Residential Community, Inc. d/b/a Concord Meadows (the Project) respectfully submits the following Corrective Action Plan for the year ended June 30, 2022. Hoyt, Filippetti & Malaghan, LLC 1041 Poquonnock Road Groton, Connecticut 06340 Audit Period: Year ended June 30, 2022 The findings from the June 30, 2022 Schedule of Federal Findings and Questioned Costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. 2022-001 BANK RECONCILIATIONS Criteria: Bank reconciliations should be prepared in a timely manner (i.e. monthly). Condition: During our audit testing, we noted that some bank reconciliations were not prepared monthly, but rather they were prepared in batches months after the statement date. Cause: Bank statements are not being reviewed and reconciled monthly. Effect: Transactions may be omitted from the general ledger system or bank errors may go undetected if accounts are not reconciled monthly. Questioned Costs: N/A Recommendation: We recommend that management ensure that all bank accounts are reconciled monthly to ensure proper recording of transactions. Management?s Views and Corrective Action Plan: Management has implemented the protocol with staff members to reconcile the bank statements by the 10th of each month. If you have any questions regarding this plan, please contact Matthew Scibek at 860-398-5425, or matt@westfordmgt.com.
FAC accepted this audit on November 4, 2021 — management decision was due May 4, 2022.
FAC accepted this audit on November 10, 2020 — management decision was due May 10, 2021.
FAC accepted this audit on October 31, 2019 — management decision was due May 1, 2020.
CURRENT YEAR FINDINGS: U.S. Department of Agriculture, Rural Development FINDING NO. 2019-001: Rural Rental Housing Loans, CFDA 10.415 - Special Tests and Provisions: Replacement Reserve CRITERIA: In accordance with RD regulations replacement reserve withdrawals are required to be supported by appropriate supporting documentation. CONDITION: During the year ended June 30, 2019 the same invoice for $2,071 was inadvertenly attached to two approved replacement reserve withdrawal requests. CAUSE OF CONDITION: Oversight in the preparation of the replacement reserve withdrawal request. EFFECT OR POTENTIAL EFFECT: The replacement reserve account was underfunded by $2,071. RECOMMENDATION: As soon as possible the underfunding should be transferred to the replacement reserve account. VIEWS OF RESPONSIBLE OFFICIALS: Madison Interfaith Residential Community, Inc. agrees with the finding and the auditor's recommendation. On August 19, 2019 funds were transferred to the replacement reserve account to eliminate the underfunding.
Show full finding ▾Hide full finding ▴CURRENT YEAR FINDINGS: U.S. Department of Agriculture, Rural Development FINDING NO. 2019-001: Rural Rental Housing Loans, CFDA 10.415 - Special Tests and Provisions: Replacement Reserve CRITERIA: In accordance with RD regulations replacement reserve withdrawals are required to be supported by appropriate supporting documentation. CONDITION: During the year ended June 30, 2019 the same invoice for $2,071 was inadvertenly attached to two approved replacement reserve withdrawal requests. CAUSE OF CONDITION: Oversight in the preparation of the replacement reserve withdrawal request. EFFECT OR POTENTIAL EFFECT: The replacement reserve account was underfunded by $2,071. RECOMMENDATION: As soon as possible the underfunding should be transferred to the replacement reserve account. VIEWS OF RESPONSIBLE OFFICIALS: Madison Interfaith Residential Community, Inc. agrees with the finding and the auditor's recommendation. On August 19, 2019 funds were transferred to the replacement reserve account to eliminate the underfunding.
Madison Interfaith Residential Community, Inc. dba Concord Meadows C/O Wildwood Property Management, LLC 162 West Street, Suite D Cromwell, CT 06416 Tel: 860-398-5425 Fax: 860-398-5429 www.wildwoodmgt.com CORRECTIVE ACTION PLAN August 19, 2019 U.S. Department of Agriculture, Rural Development Windsor Service Center 100 Northfield Drive, 4th Floor Windsor, CT 06095-4729 Madison Interfaith Residential Community, Inc. respectfully submits the following corrective action plan for the year ended June 30, 2019. Name and address of independent public accounting firm: Alan J. Tucker Certified Public Accountant 26 Honey Hill Rd. Norwalk, CT 06851 Audit Period: Year ended June 30, 2019. The findings from the Schedule of Findings and Questioned Costs for the year ended June 30, 2019 are discussed below. The finding is numbered consistently with the numbers assigned in the Schedule. Section I of the Schedule, Summary of Auditor's Results and Section II, Findings - Financial Statements Audit, do not include findings and are not addressed. SECTION III. FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL AWARD PROGRAMS AUDIT: U.S. DEPARTMENT OF AGRICULTURE, RURAL DEVELOPMENT FINDING NO. 2019-001: Rural Rental Housing Loans, CFDA 10.415 Recommendation: As soon as operating funds are available the underfunding should be transferred to the replacement reserve account. Action taken: On August 19, 2019 funds were transferred to the replacement reserve account to eliminate the underfunding. Sincerely, Johanne L'Italien Controller Wildwood Property Management, LLC Hearing Impaired Use 1-800-842-9710 This institution is an equal opportunity provider and employer.
CURRENT YEAR FINDINGS: U.S. Department of Agriculture, Rural Development FINDING NO. 2019-002: Rural Rental Housing Loans, CFDA 10.415 - Special Tests and Provisions: Replacement Reserve CRITERIA: In accordance with RD regulations replacement reserve withdrawals are required to be approved prior to withdrawal. CONDITION: During the year ended June 30, 2019 Madison Interfaith Residential Community, Inc. received invoices which were due and payable for renovations to several units. Due to the government shutdown they were unable to receive prior approval from RD and were required to withdraw $13,201 from the replacement reserve account for the payments. The invoices were subsequently included in an approved withdrawal request and were again withdrawn. CAUSE OF CONDITION: Oversight in recognizing the previously disbursed items. EFFECT OR POTENTIAL EFFECT: The replacement reserve account was underfunded by $13,201. RECOMMENDATION: As soon as possible the underfunding should be transferred to the replacement reserve account. VIEWS OF RESPONSIBLE OFFICIALS: Madison Interfaith Residential Community, Inc. agrees with the finding and the auditor's recommendation. On August 20, 2019 funds were transferred to the replacement reserve account to eliminate the underfunding.
Show full finding ▾Hide full finding ▴CURRENT YEAR FINDINGS: U.S. Department of Agriculture, Rural Development FINDING NO. 2019-002: Rural Rental Housing Loans, CFDA 10.415 - Special Tests and Provisions: Replacement Reserve CRITERIA: In accordance with RD regulations replacement reserve withdrawals are required to be approved prior to withdrawal. CONDITION: During the year ended June 30, 2019 Madison Interfaith Residential Community, Inc. received invoices which were due and payable for renovations to several units. Due to the government shutdown they were unable to receive prior approval from RD and were required to withdraw $13,201 from the replacement reserve account for the payments. The invoices were subsequently included in an approved withdrawal request and were again withdrawn. CAUSE OF CONDITION: Oversight in recognizing the previously disbursed items. EFFECT OR POTENTIAL EFFECT: The replacement reserve account was underfunded by $13,201. RECOMMENDATION: As soon as possible the underfunding should be transferred to the replacement reserve account. VIEWS OF RESPONSIBLE OFFICIALS: Madison Interfaith Residential Community, Inc. agrees with the finding and the auditor's recommendation. On August 20, 2019 funds were transferred to the replacement reserve account to eliminate the underfunding.
Madison Interfaith Residential Community, Inc. dba Concord Meadows C/O Wildwood Property Management, LLC 162 West Street, Suite D Cromwell, CT 06416 Tel: 860-398-5425 Fax: 860-398-5429 www.wildwoodmgt.com CORRECTIVE ACTION PLAN August 20, 2019 U.S. Department of Agriculture, Rural Development Windsor Service Center 100 Northfield Drive, 4th Floor Windsor, CT 06095-4729 Madison Interfaith Residential Community, Inc. respectfully submits the following corrective action plan for the year ended June 30, 2019. Name and address of independent public accounting firm: Alan J. Tucker Certified Public Accountant 26 Honey Hill Rd. Norwalk, CT 06851 Audit Period: Year ended June 30, 2019. The findings from the Schedule of Findings and Questioned Costs for the year ended June 30, 2019 are discussed below. The finding is numbered consistently with the numbers assigned in the Schedule. Section I of the Schedule, Summary of Auditor's Results and Section II, Findings - Financial Statements Audit, do not include findings and are not addressed. SECTION III. FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL AWARD PROGRAMS AUDIT: U.S. DEPARTMENT OF AGRICULTURE, RURAL DEVELOPMENT FINDING NO. 2019-002: Rural Rental Housing Loans, CFDA 10.415 Recommendation: As soon as operating funds are available the underfunding should be transferred to the replacement reserve account. Action taken: On August 20, 2019 funds were transferred to the replacement reserve account to eliminate the underfunding. Sincerely, Johanne L'Italien Controller Wildwood Property Management, LLC
FAC accepted this audit on December 9, 2018 — management decision was due June 9, 2019.
FAC accepted this audit on May 17, 2018 — management decision was due November 17, 2018.
FAC accepted this audit on January 10, 2017 — management decision was due July 10, 2017.
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