EIN: 042657418
UEI: R1Z7WLANAHM8
Data as of August 26, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on December 18, 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 18, 2026 (69 days ago).
What is a management decision? →2024-002 - REPORTING Significant Deficiency/Other Noncompliance Criteria Within ninety (90) days following the end of each fiscal year of the Development, Borrower shall furnish the Agency with a complete annual financial report for the Development based upon an examination of the books and records of Borrower containing a detailed, itemized statement of all income and expenditures, prepared and certified by a certified public accountant in accordance with the reasonable requirements of the Agency. Condition Winslow Village II, Inc. has not filed its annual financial statements to MHFA for the year ended December 31, 2024. Cause Management has not developed a system of internal controls over financial reporting sufficient in order to submit timely financial statements to MHFA. Effect As a result of not filing its annual financial statement, MHFA is unable to assess the financial condition of the project. 2024-002 - REPORTING (CONTINUED) Prior Year Finding None noted Recommendation We recommend that the annual financial statement be filed in a form and substance required by MHFA as soon as possible and to implement a schedule to ensure timely filing in the future. Views of Responsible Officials See corrective action plan.
Show full finding ▾Hide full finding ▴2024-002 - REPORTING Significant Deficiency/Other Noncompliance Criteria Within ninety (90) days following the end of each fiscal year of the Development, Borrower shall furnish the Agency with a complete annual financial report for the Development based upon an examination of the books and records of Borrower containing a detailed, itemized statement of all income and expenditures, prepared and certified by a certified public accountant in accordance with the reasonable requirements of the Agency. Condition Winslow Village II, Inc. has not filed its annual financial statements to MHFA for the year ended December 31, 2024. Cause Management has not developed a system of internal controls over financial reporting sufficient in order to submit timely financial statements to MHFA. Effect As a result of not filing its annual financial statement, MHFA is unable to assess the financial condition of the project. 2024-002 - REPORTING (CONTINUED) Prior Year Finding None noted Recommendation We recommend that the annual financial statement be filed in a form and substance required by MHFA as soon as possible and to implement a schedule to ensure timely filing in the future. Views of Responsible Officials See corrective action plan.
2024-002 - REPORTING Auditee’s Response and Planned Corrective Action Management, despite an unsuccessful software launch to a product that is better suited to support all aspects of the financial process, has made key changes (as noted above) to the internal financial control process of Winslow Village II Inc. Due to the unique nature of the circumstances that created the delay in reporting in a timely manner the situation is unlikely to be repeated. Planned Implementation Date of Corrective Action: In progress Person Responsible for Corrective Action: Marianne Correia, General Manager
2024-003 - SPECIAL TESTS AND PROVISIONS Significant Deficiency/Other Noncompliance Criteria In accordance with HUD regulations, Owners shall establish and maintain a replacement reserve to aid in funding extraordinary maintenance and repair and replacement of capital items. The replacement reserve funds must be deposited in a federally insured depository in an interest-bearing account. All earnings including interest on the reserve must be added to the reserve. An amount as required by HUD will be deposited monthly in the reserve fund (Regulatory Agreement, item 5 A). All disbursements from the reserve must be approved by HUD (24 CFR sections 891.405 and 891.605). Condition Winslow Village II, Inc. did not make the additional deposits into the replacement reserve account required to meet project’s capital needs based on its December 31, 2023 financial statements. In addition, the Organization did make all of the required monthly deposits into the replacement reserve account. The Organization has delinquent deposits to reserve for replacement account in the amount of $65,380. Cause Sufficient controls were not in place which resulted in failure to deposits the required funds into the replacements reserve account in a timely manner. Effect The Organization’s reserve for replacement account is not sufficiently funded. Prior Year Finding None noted. Recommendation Management should review the Organization’s budget to ensure that the replacement reserve is funded in accordance with HUD regulations. Views of Responsible Officials See corrective action plan.
Show full finding ▾Hide full finding ▴2024-003 - SPECIAL TESTS AND PROVISIONS Significant Deficiency/Other Noncompliance Criteria In accordance with HUD regulations, Owners shall establish and maintain a replacement reserve to aid in funding extraordinary maintenance and repair and replacement of capital items. The replacement reserve funds must be deposited in a federally insured depository in an interest-bearing account. All earnings including interest on the reserve must be added to the reserve. An amount as required by HUD will be deposited monthly in the reserve fund (Regulatory Agreement, item 5 A). All disbursements from the reserve must be approved by HUD (24 CFR sections 891.405 and 891.605). Condition Winslow Village II, Inc. did not make the additional deposits into the replacement reserve account required to meet project’s capital needs based on its December 31, 2023 financial statements. In addition, the Organization did make all of the required monthly deposits into the replacement reserve account. The Organization has delinquent deposits to reserve for replacement account in the amount of $65,380. Cause Sufficient controls were not in place which resulted in failure to deposits the required funds into the replacements reserve account in a timely manner. Effect The Organization’s reserve for replacement account is not sufficiently funded. Prior Year Finding None noted. Recommendation Management should review the Organization’s budget to ensure that the replacement reserve is funded in accordance with HUD regulations. Views of Responsible Officials See corrective action plan.
2024-003 - SPECIAL TESTS AND PROVISIONS Auditee’s Response and Planned Corrective Action Post the 2023 audit it was determined that we would fund an internal reserve at the property level. The internal reserve was to be funded, and accounts were opened to reflect that however since the implementation of the software conversion did not complete in a timely fashion it was not reflected in the 2024 transaction. Planned Implementation Date of Corrective Action: In progress Person Responsible for Corrective Action: Marianne Correia, General Manager
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