Texas · Nonprofit · $2M-$10M in federal spending
Pharr Affordable Housing dba Sunset Terrace Senior Village
Pharr, TX
The FY2024 single audit reports 1 finding: 1 repeat. Audits on file for FY2023–FY2025: FY2023, FY2024.
Score: 13 of 100 (FY2024 audit)
The sum of eight parts, each read from the audit. How the score works.
| Part | Rule | Points | Max |
|---|
| Material weaknesses | 8 points each | 0 | 24 |
| Significant deficiencies | 3 points each | 0 | 9 |
| Repeat findings | 5 points each | 5 | 15 |
| Longest repeat chain | 2 years 3, 3 years 6, 4 years 9, 5+ years 12 | 3 | 12 |
| Modified major-program opinions | qualified 8 each; any adverse or disclaimer 15 | 0 | 15 |
| Questioned costs | known amount of $25,000 or more, by share and dollars | 0 | 15 |
| Going concern | auditor included a going-concern paragraph | 0 | 5 |
| Prior-year lateness | prior-year audit late or not filed, scored only with a finding | 5 | 5 |
| Score | | 13 | 100 |
Federal funding, FY2024
$4,352,759 in federal awards spent, across 1 program. Largest funding agencies:
| Agency | Spent |
|---|
| Department of Housing and Urban Development | $4,352,759 |
FY2024 audit
- FAC record
- 2024-12-GSAFAC-0000386073
- Fiscal year end
- December 31, 2024
- Accepted by FAC
- November 6, 2025
- Federal spending
- $4,352,759 · 1 program
- Major programs
- 1
- Score
- 13 of 100
Finding 2024-001
repeat findingother matters
- Program
- MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155)
- Compliance requirement
- Cash management
- Repeat
- Chain of 2 audit years; prior finding 2023-001
- FAC record
- FY2024 audit on fac.gov
Finding text from the filing
2024-001 - Cash Management - Mortgage Insurance Rental Housing - ALN No. 14.155. Criteria or Specific Requirement: The Project is required to maintain a tenant security deposit bank account. Condition: - The Project did not maintain a separate tenant security deposit bank account. Cause: Unknown. Effect: The Project did not have a seperate tenant security deposit bank account. Questioned Costs: N/A. Repeat Finding: Yes. Recommendation: The Project should maintain a tenant security deposit bank account in accordance with the regulatory agreement. Responce: A tenant security deposit bank account will be maintained.
FY2023 audit
- FAC record
- 2023-12-GSAFAC-0000060808
- Fiscal year end
- December 31, 2023
- Accepted by FAC
- October 10, 2024
- Federal spending
- $4,439,081 · 1 program
- Major programs
- 1
- Score
- 5 of 100
Finding 2023-001
other matters
- Program
- MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155)
- Compliance requirement
- Cash management
- FAC record
- FY2023 audit on fac.gov
Finding text from the filing
2023-001 - Cash Management - Mortgage Insurance Rental Housing - ALN No. 14.155. Criteria or Specific Requirement: The Project is required to maintain a tenant security deposit bank account. Condition: - During the year, the Project's owner closed the security deposit bank account. Cause: Unknown. Effect: At year-end, the Project did not have a seperate tenant security deposit bank account. Questioned Costs: N/A. Repeat Finding: Not a repeat finding. Recommendation: The Project should maintain a tenant security deposit bank account in accordance with the regulatory agreement. Response: A tenant security deposit bank account will be maintained.