Spurwink Realty Development Corporation

EIN: 050484379

UEI: HCG7V6FLY9F6

Data as of August 25, 2026

Spurwink Realty Development Corporation10 audit years4 findings
10
Audit Years
4
Total Findings
0
Repeat Findings

FY 2023-12-31

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on March 19, 2024. 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 September 19, 2024 (706 days ago).

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2023-001
Other

Federal program - Section 811: Criteria - HUD handbook 4350 specifies the nature and content of tenant income certifications; Condition - tenant assets were not verified (1 of 2 files tested), no lease signed (1 of 2 files), and form 9887a not signed (1 of 2 files); Cause - management oversight; Recommendation - management should obtain the required documentation to determine if the tenant portion of the rent should change and staff should follow the checklist provided to ascertain all items are complete and the files are accurate. Response: the documentation was subsequently obtained and management will make every attempt to ascertain the recertifications are complete and accurate.

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Full finding narrative

Federal program - Section 811: Criteria - HUD handbook 4350 specifies the nature and content of tenant income certifications; Condition - tenant assets were not verified (1 of 2 files tested), no lease signed (1 of 2 files), and form 9887a not signed (1 of 2 files); Cause - management oversight; Recommendation - management should obtain the required documentation to determine if the tenant portion of the rent should change and staff should follow the checklist provided to ascertain all items are complete and the files are accurate. Response: the documentation was subsequently obtained and management will make every attempt to ascertain the recertifications are complete and accurate.

Corrective Action Plan

tenant certifications incomplete. Corrective action plan: the documentation was subsequently obtained.

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FY 2021-12-31

FAC accepted this audit on March 21, 2022 — management decision was due September 21, 2022.

2021-001
Special Tests & Provisions

Finding 2021-001: Federal program - PRAC; Criteria - The HUD Occupancy handbook specifies the security deposit account be in an amount sufficient to cover the security deposit liability; Condition - the security deposit account is deficient totaling $215; Cause - management oversight; Recommendation - management should transfer an amount sufficient to cover the deficient amount.

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Finding 2021-001: Federal program - PRAC; Criteria - The HUD Occupancy handbook specifies the security deposit account be in an amount sufficient to cover the security deposit liability; Condition - the security deposit account is deficient totaling $215; Cause - management oversight; Recommendation - management should transfer an amount sufficient to cover the deficient amount.

Corrective Action Plan

Management has transferred $215 over to security deposit account to cover the deficiency

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2021-002
Cash Management

Finding 2021-002: Federal program - Section 811: Criteria - HUD regulations require all bank accounts be fully insured up to the FDIC limit or that management monitor the bank ratings if an excess of the FDIC limit exists; Condition - the bank accounts exceed the FDIC limit by $19,315 at year end and management is not monitoring the bank ratings on a quarterly basis; Cause - management oversight; Recommendation - management should transfer excess funds to another bank or monitor the bank?s ratings on a quarterly basis.

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Finding 2021-002: Federal program - Section 811: Criteria - HUD regulations require all bank accounts be fully insured up to the FDIC limit or that management monitor the bank ratings if an excess of the FDIC limit exists; Condition - the bank accounts exceed the FDIC limit by $19,315 at year end and management is not monitoring the bank ratings on a quarterly basis; Cause - management oversight; Recommendation - management should transfer excess funds to another bank or monitor the bank?s ratings on a quarterly basis.

Corrective Action Plan

Management has transferred the excess to another bank account.

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FY 2016-12-31

FAC accepted this audit on February 27, 2017 — management decision was due August 27, 2017.

2016-001
Special Tests & Provisions

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

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Data source: This information comes from the Federal Audit Clearinghouse, the official repository of Single Audit data. All data is public domain. Verify this organization's audit history at fac.gov.

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