EIN: 721346868
UEI: CLMSU3TNLDB4
Audited by: Bellows Associates, 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 September 23, 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 March 23, 2026 (159 days ago).
What is a management decision? →The Project underfunded the account by $33,600 in the current year. Cause: The Project did not fund the reserve account after the suspension ended on May 31, 2024. Effect or Potential Effect: Deficiently funded reserve for replacements. Auditor Non-Compliance Code: N – Reserve for Replacements deposits Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: Management should implement procedures to ensure the replacement reserve is properly funded on a monthly basis. Response Indicator: Agree. Completion Date: 12/31/2025 Response: Staff training has been provided to ensure the correct RR amounts are deposited and a timely increase from HUD is received. This has been included in the monthly reporting procedures. Questioned Costs – Department of Housing and Urban Development $33,600 Total Questioned Costs – Department of Housing and Urban Development $33,600
Show full finding ▾Hide full finding ▴FINDING No. 2024-001: Section 202 Supportive Housing for the Elderly, ALN 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: All replacement reserve deposits for the year ended December 31, 2024. Sample Size Information: All replacement reserve deposits for the year ended December 31, 2024. Identification of Repeat Finding and Finding Reference Number: Yes, 2023-001. Criteria: In accordance with HUD, the required monthly deposit must be made to the Project's reserve for replacement account. Statement of Condition: The Project underfunded the account by $33,600 in the current year. Cause: The Project did not fund the reserve account after the suspension ended on May 31, 2024. Effect or Potential Effect: Deficiently funded reserve for replacements. Auditor Non-Compliance Code: N – Reserve for Replacements deposits Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: Management should implement procedures to ensure the replacement reserve is properly funded on a monthly basis. Response Indicator: Agree. Completion Date: 12/31/2025 Response: Staff training has been provided to ensure the correct RR amounts are deposited and a timely increase from HUD is received. This has been included in the monthly reporting procedures. Questioned Costs – Department of Housing and Urban Development $33,600 Total Questioned Costs – Department of Housing and Urban Development $33,600
Oversight Agency for Audit, Rayne Elderly Housing Corporation respectfully submits the following corrective action plan for the year ended December 31, 2024. Name and address of independent public accounting firm: Bellows Associates, P.A., 5401 N University Drive, Suite 201 Coral Springs, Florida 33067 Audit period: January 1, 2024 through December 31, 2024 The finding from the December 31, 2024 schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the numbers assigned in the schedule. SECTION III - FINDINGS AND QUESTIONED COSTS – MAJOR FEDERAL AWARD PROGRAMS AUDIT FINDING No. 2024-001: Section 202 Supportive Housing for the Elderly, ALN 14.157 Recommendation: Management should implement procedures to ensure the replacement reserve is properly funded on a monthly basis. Action Taken: Staff training has been provided to ensure the correct RR amounts are deposited and a timely increase from HUD is received. This has been included in the monthly reporting procedures. If the Oversight Agency for Audit has questions regarding these plans, please call Irene Phillips at 954-835-9200. Sincerely yours, Irene Phillips, CFO
2023-001
FAC accepted this audit on September 4, 2024 — management decision was due March 4, 2025.
The Project overfunded the account by $9,600. Cause: The Project overfunded the replacement reserve account for two months after receiving approval for a suspension of deposits. Effect or Potential Effect: Overfunded reserve for replacement account. Auditor Non-Compliance Code: N – Reserve for Replacements deposits. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: The Project should implement procedures to ensure that the correct amount is deposited into the replacement reserve account each month and request a HUD Form 9250 to withdraw the excess funding. Response Indicator: Agree. Completion Date: 12/31/2024. Response: The verification of the correct funding amounts is now confirmed against the approved 9250 on a monthly basis and is a step that has been added on the month-end close checklist.
Show full finding ▾Hide full finding ▴FINDING No. 2023-001: Section 202 Supportive Housing for the Elderly, ALN 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: All replacement reserve deposits for the year ended December 31, 2023. Sample Size Information: Required replacement deposits for the year ended December 31, 2023. Identification of Repeat Finding and Finding Reference Number: No. Criteria: In accordance with HUD, the required monthly deposit must be made to the Project's reserve for replacement account. Statement of Condition: The Project overfunded the account by $9,600. Cause: The Project overfunded the replacement reserve account for two months after receiving approval for a suspension of deposits. Effect or Potential Effect: Overfunded reserve for replacement account. Auditor Non-Compliance Code: N – Reserve for Replacements deposits. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: The Project should implement procedures to ensure that the correct amount is deposited into the replacement reserve account each month and request a HUD Form 9250 to withdraw the excess funding. Response Indicator: Agree. Completion Date: 12/31/2024. Response: The verification of the correct funding amounts is now confirmed against the approved 9250 on a monthly basis and is a step that has been added on the month-end close checklist.
Oversight Agency for Audit, Rayne Elderly Housing Corporation respectfully submits the following corrective action plan for the year ended December 31, 2023. Name and address of independent public accounting firm: Bellows Associates, P.A., 5401 N University Drive, Suite 201 Coral Springs, Florida 33067. Audit period: January 1, 2023 through December 31, 2023. The findings from the December 31, 2023 schedule of findings and questioned costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. SECTION III - FINDINGS AND QUESTIONED COSTS – MAJOR FEDERAL AWARD PROGRAMS AUDIT FINDING No. 2023-001: Section 202 Supportive Housing for the Elderly, ALN 14.157 Recommendation: The Project should implement procedures to ensure that the correct amount is deposited into the replacement reserve account each month and request a HUD Form 9250 to withdraw the excess funding. Action Taken: The verification of the correct funding amounts is now confirmed against the approved 9250 on a monthly basis and is a step that has been added on the month-end close checklist.
The Project did not complete the renewa process 120 days prior to the PRAC expiration date. Cause: The Project did not follow HUD regulations for a timely contract renewal resulting in a delay of HUD funding. Effect or Potential Effect: The Project is not in compliance with HUD regulations for timely renewal of PRAC contract resulting in delayed receipt of HAP funds. Auditor Non-Compliance Code: R – Section 8 Program Administration. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations have been adopted. Recommendation: The Project should comply with HUD regulations for timely renewal of the PRAC contract to ensure no interruption in funding. Response Indicator: Agree. Completion Date: 06/07/2023. Response: A schedule of contract renewals is in process and will be reviewed on a regular basis.
Show full finding ▾Hide full finding ▴FINDING No. 2023-002: Section 202 Supportive Housing for the Elderly, ALN 14.157. Finding Resolution Status: Resolved. Information on Universe Population Size: Total assistance revenue. Sample Size Information: All monthly PRAC requests. Identification of Repeat Finding and Finding Reference Number: Yes, 2022-002. Criteria: As required by HUD regulations, applications for renewal of the PRAC contracts must be completed 120 days prior to the PRAC expiration date. Statement of Condition: The Project did not complete the renewa process 120 days prior to the PRAC expiration date. Cause: The Project did not follow HUD regulations for a timely contract renewal resulting in a delay of HUD funding. Effect or Potential Effect: The Project is not in compliance with HUD regulations for timely renewal of PRAC contract resulting in delayed receipt of HAP funds. Auditor Non-Compliance Code: R – Section 8 Program Administration. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations have been adopted. Recommendation: The Project should comply with HUD regulations for timely renewal of the PRAC contract to ensure no interruption in funding. Response Indicator: Agree. Completion Date: 06/07/2023. Response: A schedule of contract renewals is in process and will be reviewed on a regular basis.
FINDING No. 2023-002: Section 202 Supportive Housing for the Elderly, ALN 14.157 Recommendation: The Project should comply with HUD regulations for timely renewal of PRAC contract to ensure no interruption in funding. Action Taken: A schedule of contract renewals is in process and will be reviewed on a regular basis.
2022-002
The Project did not perform and/or maintain the initial EIV for one tenant. Cause: The Project did not adhere to HUD regulations for initial eligibility and did not perform timely income verification. Effect or Potential Effect: Unable to verify tenant eligibility and cost of assistance and residency may be disallowed. Auditor Non-Compliance Code: R – Section 8 Program Administration. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: The Project should implement procedures to ensure the Project verifies initial tenant income through the EIV system in a timely manner and maintain all required tenant documentation. Response Indicator: Agree. Completion Date: 12/31/2024. Response: Staff training has been provided and included in the monthly reporting procedures.
Show full finding ▾Hide full finding ▴FINDING No. 2023-003: Section 202 Supportive Housing for the Elderly, ALN 14.157. Finding Resolution Status: Unresolved. Information on Universe Population Size: Nineteen tenants. Sample Size Information: Three tenants. Identification of Repeat Finding and Finding Reference Number: No. Criteria: HUD regulations requires timely verification of tenant’s initial income through the use of Enterprise Income Verification (EIV) reports with the corresponding documentation maintained. Statement of Condition: The Project did not perform and/or maintain the initial EIV for one tenant. Cause: The Project did not adhere to HUD regulations for initial eligibility and did not perform timely income verification. Effect or Potential Effect: Unable to verify tenant eligibility and cost of assistance and residency may be disallowed. Auditor Non-Compliance Code: R – Section 8 Program Administration. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: The Project should implement procedures to ensure the Project verifies initial tenant income through the EIV system in a timely manner and maintain all required tenant documentation. Response Indicator: Agree. Completion Date: 12/31/2024. Response: Staff training has been provided and included in the monthly reporting procedures.
FINDING No. 2023-003: Section 202 Supportive Housing for the Elderly, ALN 14.157 Recommendation: The Project should implement procedures to ensure the Project verifies initial tenant income through the EIV system in a timely manner and maintain all required tenant documentation. Action Taken: Staff training has been provided and included in the monthly reporting procedures. If the Oversight Agency for Audit has questions regarding these plans, please call Irene Phillips at 954-835-9200. Sincerely yours, Irene Phillips, CFO.
FAC accepted this audit on April 9, 2023 — management decision was due October 9, 2023.
The Project underfunded the account by $4,800. Cause: The project did not fund the replacement reserve account for one month. Effect or Potential Effect: Deficiently funded replacement reserve. Auditor Non-Compliance Code: N ? Reserve for Replacements deposits Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations will be adopted. Recommendation: The Project should implement procedures to ensure that the correct amount is deposited into the replacement reserve account each month. Response Indicator: Agree. Completion Date: 12/31/2023 Response: The project underfunded by one month in FY2022 to compensate for the one month over funding in PY. A 9250 was submitted and is awaiting approval.
Show full finding ▾Hide full finding ▴FINDING No. 2022-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: All replacement reserve deposits for the year ended December 31, 2022. Sample Size Information: Required replacement reserve deposits for the year ended December 31, 2022. Identification of Repeat Finding and Finding Reference Number: No. Criteria: As required by HUD regulation, timely monthly deposits must be made to the replacement reserve account. Statement of Condition: The Project underfunded the account by $4,800. Cause: The project did not fund the replacement reserve account for one month. Effect or Potential Effect: Deficiently funded replacement reserve. Auditor Non-Compliance Code: N ? Reserve for Replacements deposits Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations will be adopted. Recommendation: The Project should implement procedures to ensure that the correct amount is deposited into the replacement reserve account each month. Response Indicator: Agree. Completion Date: 12/31/2023 Response: The project underfunded by one month in FY2022 to compensate for the one month over funding in PY. A 9250 was submitted and is awaiting approval.
Oversight Agency for Audit, Rayne Elderly Housing Corporation respectfully submits the following corrective action plan for the year ended December 31,2022. Name and address of independent public accounting firm: Bellows Associates, P.A., 5401 N University Drive, Suite 201 Coral Springs, Florida 33067 Audit period: January 1, 2022 through December 31, 2022 The findings from the December 31, 2022 schedule of findings and questioned costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. SECTION III - FINDINGS AND QUESTIONED COSTS ? MAJOR FEDERAL AWARD PROGRAMS AUDIT FINDING No. 2022-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Recommendation: The Project should implement procedures to ensure that the correct amount is deposited into the replacement reserve account each month. Action Taken: The project underfunded by one month in FY22 to compensate for the one month over funding in PY. A 9250 was submitted and is awaiting approval.
The Project did not complete the renewal process 120 days prior to the PRAC expiration date. Cause: The Project did not follow HUD regulations for a timely contract renewal resulting in the delay of HUD funding. Effect or Potential Effect: The Project is not in compliance with HUD regulations for timely renewal of PRAC contract resulting in delayed receipt of HAP funds. Auditor Non-Compliance Code: R ? Section 8 Program Administration Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations have been adopted. Recommendation: The Project should comply with HUD regulations for timely renewal of the PRAC contract to ensure no interruption in funding. Response Indicator: Agree. Completion Date: 06/27/2022 Response: Staff is going to be trained on the proper procedures to follow for the PRAC contract renewal process. This will include meeting deadlines for submission to HUD. As of March 2023, compliance created a spreadsheet of dates when contract renewals are due. Compliance will be monitoring this process and will be making monthly contacts to the Community Manager and Regional Property Manager to ensure deadlines will be met.
Show full finding ▾Hide full finding ▴FINDING No. 2022-002: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Finding Resolution Status: Resolved. Information on Universe Population Size: Total assistance revenue. Sample Size Information: All monthly PRAC requests. Identification of Repeat Finding and Finding Reference Number: No. Criteria: As required by HUD regulations, applications for renewal of PRAC contracts must be completed 120 days prior to the PRAC expiration date. Statement of Condition: The Project did not complete the renewal process 120 days prior to the PRAC expiration date. Cause: The Project did not follow HUD regulations for a timely contract renewal resulting in the delay of HUD funding. Effect or Potential Effect: The Project is not in compliance with HUD regulations for timely renewal of PRAC contract resulting in delayed receipt of HAP funds. Auditor Non-Compliance Code: R ? Section 8 Program Administration Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations have been adopted. Recommendation: The Project should comply with HUD regulations for timely renewal of the PRAC contract to ensure no interruption in funding. Response Indicator: Agree. Completion Date: 06/27/2022 Response: Staff is going to be trained on the proper procedures to follow for the PRAC contract renewal process. This will include meeting deadlines for submission to HUD. As of March 2023, compliance created a spreadsheet of dates when contract renewals are due. Compliance will be monitoring this process and will be making monthly contacts to the Community Manager and Regional Property Manager to ensure deadlines will be met.
FINDING No. 2022-002: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Recommendation: The Project should comply with HUD regulations for timely renewal of PRAC contract to ensure no interruption in funding. Action Taken: Staff is going to be trained on the proper procedures to follow for the PRAC contract renewal process. This will include meeting deadlines for submission to HUD. As of March 2023 Compliance created a spreadsheet of dates when contract renewals are due. Compliance will be monitoring this process and will be making monthly contacts to the Community Manager and Regional Property Manager to ensure deadlines will be met. If the Oversight Agency for Audit has questions regarding these plans, please call Christine Harris at 954-835-9200. Sincerely yours, Christine Harris Accounting Manager
FAC accepted this audit on April 10, 2022 — management decision was due October 10, 2022.
The Project overfunded the account by $4,800. Cause: The Project?s replacement reserve deposits were suspended for six months, during which time the project mistakenly made a payment. Effect or Potential Effect: Overfunded reserve for replacement account. Auditor Non-Compliance Code: N ? Reserve for Replacements deposits Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations will be adopted. Recommendation: The Project should implement procedures to ensure that the correct amount is deposited into the replacement reserve account each month. A HUD approved 9250 should be obtained to remove excess funds. Response Indicator: Agree. Completion Date: 12/31/2022 Response: Management will now have the replacement reserve deposits reviewed on a monthly basis and will request that HUD approve a 9250 for $4,800.
Show full finding ▾Hide full finding ▴FINDING No. 2021-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: All replacement reserve deposits for the year ended December 31, 2021. Sample Size Information: Required replacement reserve deposits for the year ended December 31, 2021. Identification of Repeat Finding and Finding Reference Number: No. Criteria: In accordance with HUD, the required monthly deposit must be made to the Project?s reserve for replacement account. Statement of Condition: The Project overfunded the account by $4,800. Cause: The Project?s replacement reserve deposits were suspended for six months, during which time the project mistakenly made a payment. Effect or Potential Effect: Overfunded reserve for replacement account. Auditor Non-Compliance Code: N ? Reserve for Replacements deposits Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations will be adopted. Recommendation: The Project should implement procedures to ensure that the correct amount is deposited into the replacement reserve account each month. A HUD approved 9250 should be obtained to remove excess funds. Response Indicator: Agree. Completion Date: 12/31/2022 Response: Management will now have the replacement reserve deposits reviewed on a monthly basis and will request that HUD approve a 9250 for $4,800.
Oversight Agency for Audit, Rayne Elderly Housing Corporation respectfully submits the following corrective action plan for the year ended December 31, 2021. Name and address of independent public accounting firm: Bellows Associates, P.A., 5401 N University Drive, Suite 201 Coral Springs, Florida 33067 Audit period: January 1, 2021 through December 31, 2021 The finding from the December 31, 2021 schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. FINDINGS AND QUESTIONED COSTS ? MAJOR FEDERAL AWARD PROGRAMS AUDIT FINDING No. 2021-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Recommendation: The Project should implement procedures to ensure that the correct amount is deposited into the replacement reserve account each month. A HUD approved 9250 should be obtained to remove excess funds. Action Taken: Management will now have the replacement reserve deposits reviewed on a monthly basis and will request that HUD approve a 9250 for $4,800. If the Oversight Agency for Audit has questions regarding these plans, please call Christine Harris at 954-835-9200. Sincerely yours, Christine Harris Accounting Manager
FAC accepted this audit on March 31, 2021 — management decision was due October 1, 2021.
As a result of an expired Form HUD-9839-B, the Project has been overcharged management fees, resulting in an unauthorized loan to the management company in the amount of $6,335. Cause: The Project?s Form HUD-9839-B expired March 31, 2018 and a new one was approved by HUD with an effective date, June 1, 2020. Effect or Potential Effect: The Project has made an unauthorized loan to the management company as a result of overpaying management fees. Auditor Non-Compliance Code: J ? Unauthorized Management Fees Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations will be adopted. Recommendation: The Project should request the management company to reimburse the Project for the payments of the unauthorized management fees during the period from April 1, 2018 through May 31, 2020, for which no Form HUD-9839-B was in effect. Response Indicator: Agree. Completion Date: 02/26/2021 Response: While awaiting the newly approved HUD form 9839-B, the project continued to pay management fees based on the percentage of the expired certification. The management company has subsequently issued a credit of $32,716.99 reimbursing the project for overpaid management fees from 04.01.2018 ? 05.31.2020.
Show full finding ▾Hide full finding ▴FINDING No. 2020-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: All management fee expenses. Sample Size Information: All management fee expenses. Identification of Repeat Finding and Finding Reference Number: Yes, 2019-001. Criteria: As required by HUD, the Project shall only use funds as specified in the Regulatory Agreement and owes the management company fees at the rate specified in the Project Owner?s/Management Agent?s Certification (Form HUD-9839-B). Statement of Condition: As a result of an expired Form HUD-9839-B, the Project has been overcharged management fees, resulting in an unauthorized loan to the management company in the amount of $6,335. Cause: The Project?s Form HUD-9839-B expired March 31, 2018 and a new one was approved by HUD with an effective date, June 1, 2020. Effect or Potential Effect: The Project has made an unauthorized loan to the management company as a result of overpaying management fees. Auditor Non-Compliance Code: J ? Unauthorized Management Fees Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations will be adopted. Recommendation: The Project should request the management company to reimburse the Project for the payments of the unauthorized management fees during the period from April 1, 2018 through May 31, 2020, for which no Form HUD-9839-B was in effect. Response Indicator: Agree. Completion Date: 02/26/2021 Response: While awaiting the newly approved HUD form 9839-B, the project continued to pay management fees based on the percentage of the expired certification. The management company has subsequently issued a credit of $32,716.99 reimbursing the project for overpaid management fees from 04.01.2018 ? 05.31.2020.
Oversight Agency for Audit, Rayne Elderly Housing Corporation respectfully submits the following corrective action plan for the year ended December 31, 2020. Name and address of independent public accounting firm: Bellows Associates, P.A., 5401 N University Drive, Suite 201 Coral Springs, Florida 33067 Audit period: January 1, 2020 through December 31, 2020 The finding from the December 31, 2020 schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. FINDINGS AND QUESTIONED COSTS ? MAJOR FEDERAL AWARD PROGRAMS AUDIT FINDING No. 2020-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Recommendation: The Project should request the management company to reimburse the Project for the payments of the unauthorized management fees during the period from April 1, 2018 through May 31, 2020, for which no Form HUD-9839-B was in effect. Action Taken: While awaiting the newly approved HUD form 9839-B, the project continued to pay management fees based on the percentage of the expired certification. The management company has subsequently issued a credit of $32,716.99 reimbursing the project for overpaid management fees from 04.01.2018 - 05.31.2020. If the Oversight Agency for Audit has questions regarding these plans, please call Christian Harris at 954-835-9200. Sincerely yours, Christine Harris Assistant to the VP of Finance and Accounting
2019-001
FAC accepted this audit on March 29, 2020 — management decision was due September 29, 2020.
As a result of an expired Form HUD-9839-B, the Project has been overcharged management fees, resulting in an unauthorized loan to the management company. Cause: The Project?s Form HUD-9839-B expired and a new one was not prepared nor approved by HUD. Effect or Potential Effect: The Project has made an unauthorized loan to the management company as a result of overpaying management fees. Auditor Non-Compliance Code: J ? Unauthorized Management Fees Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations will be adopted. Recommendation: The Project should implement procedures to monitor the expiration of HUD required documents to ensure timely preparation and approval. Response Indicator: Agree. Completion Date: 12/31/2020 Response: Management has retained the services of a consulting firm who is currently in the process of renewing all expired HUD documents. They will also ensure that any upcoming documents are renewed timely.
Show full finding ▾Hide full finding ▴FINDING No. 2019-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: All management fee expenses. Sample Size Information: All management fee expenses. Identification of Repeat Finding and Finding Reference Number: No. Criteria: As required by HUD, the Project shall only use funds as specified in the Regulatory Agreement and owes the management company fees at the rate specified in the Project Owner?s/Management Agent?s Certification (Form HUD-9839-B). Statement of Condition: As a result of an expired Form HUD-9839-B, the Project has been overcharged management fees, resulting in an unauthorized loan to the management company. Cause: The Project?s Form HUD-9839-B expired and a new one was not prepared nor approved by HUD. Effect or Potential Effect: The Project has made an unauthorized loan to the management company as a result of overpaying management fees. Auditor Non-Compliance Code: J ? Unauthorized Management Fees Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations will be adopted. Recommendation: The Project should implement procedures to monitor the expiration of HUD required documents to ensure timely preparation and approval. Response Indicator: Agree. Completion Date: 12/31/2020 Response: Management has retained the services of a consulting firm who is currently in the process of renewing all expired HUD documents. They will also ensure that any upcoming documents are renewed timely.
Oversight Agency for Audit, Rayne Elderly Housing Corporation, operating as Leisure Lane Apartments respectfully submits the following corrective action plan for the year ended December 31, 2019. Name and address of independent public accounting firm: Bellows Associates, P.A., 7890 Peters Road, Suite G-102, Plantation, Florida 33324 Audit period: January 1, 2019 through December 31, 2019 The finding from the December 31, 2019 schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. FINDINGS AND QUESTIONED COSTS ? MAJOR FEDERAL AWARD PROGRAMS AUDIT FINDING No. 2019-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Recommendation: The Project should implement procedures to monitor the expiration of HUD required documents to ensure timely preparation and approval. Action Taken: Management has retained the services of a consulting firm who is currently in the process of renewing all expired HUD documents. They will also ensure that any upcoming documents are renewed timely. If the Oversight Agency for Audit has questions regarding these plans, please call Christine Harris at 954-835-9200. Sincerely yours, Christine Harris Assistant to Vice President of Finance and Accounting
FAC accepted this audit on March 31, 2019 — management decision was due October 1, 2019.
FAC accepted this audit on April 4, 2018 — management decision was due October 4, 2018.
FAC accepted this audit on April 6, 2017 — management decision was due October 6, 2017.
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