EIN: 050544887
UEI: TQUKN5YF62G1
Audited by: CliftonLarsonAllen LLP
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 14, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 16, 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 16, 2026 (30 days from today).
What is a management decision? →FAC accepted this audit on April 8, 2025 — management decision was due October 8, 2025.
FAC accepted this audit on April 5, 2024 — management decision was due October 5, 2024.
FAC accepted this audit on April 11, 2023 — management decision was due October 11, 2023.
FAC accepted this audit on April 10, 2022 — management decision was due October 10, 2022.
See Schedule of Findings and Questioned Costs for chart/table.
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See Schedule of Findings and Questioned Costs for chart/table.
2020-001
FAC accepted this audit on April 15, 2021 — management decision was due October 15, 2021.
The Project did not return excess residual receipts funds in excess of $250 per unit to HUD upon termination of the Section 202 PRAC contract on September 8, 2019. The Project is allowed to keep $12,500 of residual receipts and, therefore, needs to return the excess balance of approximately $128,000 to HUD. The Project was required to return the balance at the expiration of the PRAC term which ended in September 2019. Criteria: Management of the Project is responsible for complying with laws and regulations. Any excess balance greater than $250 per unit in a residual receipts account must be remitted to HUD?s accounting center upon termination of the PRAC. Cause: The Project did not remit the excess of the residual receipts to HUD upon termination of the PRAC. Effect: The Project owes $128,432 to HUD for the excess in the residual receipts account based on $250 per unit and the property having 50 units subject to the agreement. Recommendation: We recommend that management review the excess of the residual receipts account and return the excess in the account to HUD or gain approval to use the excess funds on a timely basis.
Show full finding ▾Hide full finding ▴Item 2020-001 Failing to return excess residual receipts to HUD Condition: The Project did not return excess residual receipts funds in excess of $250 per unit to HUD upon termination of the Section 202 PRAC contract on September 8, 2019. The Project is allowed to keep $12,500 of residual receipts and, therefore, needs to return the excess balance of approximately $128,000 to HUD. The Project was required to return the balance at the expiration of the PRAC term which ended in September 2019. Criteria: Management of the Project is responsible for complying with laws and regulations. Any excess balance greater than $250 per unit in a residual receipts account must be remitted to HUD?s accounting center upon termination of the PRAC. Cause: The Project did not remit the excess of the residual receipts to HUD upon termination of the PRAC. Effect: The Project owes $128,432 to HUD for the excess in the residual receipts account based on $250 per unit and the property having 50 units subject to the agreement. Recommendation: We recommend that management review the excess of the residual receipts account and return the excess in the account to HUD or gain approval to use the excess funds on a timely basis.
Item 2020-001 Failing to return excess residual receipts to HUD Auditee Response and Action Plan: Management of the Project is aware they are responsible for complying with laws and regulations and that any balance greater than $250 per unit in a residual receipts account must be remitted to HUDs accounting center upon termination of the PRAC. Project management is making a request to HUD to use the excess residual receipts towards future repair and replacement reserves.
2019-001
FAC accepted this audit on April 2, 2020 — management decision was due October 2, 2020.
The Project did not return excess residual receipts funds in excess of $250 per unit to HUD upon termination of the Section 202 PRAC contract on September 8, 2019. The Project is allowed to keep $12,500 of residual receipts and, therefore, needs to return the excess balance of approximately $128,000 to HUD. The Project was required to return the balance at the expiration of the PRAC term which ended in September 2019. Criteria: Management of the Project is responsible for complying with laws and regulations. Any excess balance greater than $250 per unit in a residual receipts account must be remitted to HUD?s accounting center upon termination of the PRAC. Cause: The Project did not remit the excess of the residual receipts to HUD upon termination of the PRAC. Effect: The Project owes $128,124 to HUD for the excess in the residual receipts account based on $250 per unit and the property having 50 units subject to the agreement. Recommendation: We recommend that management review the excess of the residual receipts account and return the excess in the account to HUD or gain approval to use the excess funds on a timely basis. Auditee Response and Action Plan: Management of the Project is aware they are responsible for complying with laws and regulations and that any balance greater than $250 per unit in a residual receipts account must be remitted to HUD?s accounting center upon termination of the PRAC. Project management is making a request to HUD to use the excess residual receipts towards future repair and replacement reserves.
Show full finding ▾Hide full finding ▴Item 2019-001 Failing to return excess residual receipts to HUD Condition: The Project did not return excess residual receipts funds in excess of $250 per unit to HUD upon termination of the Section 202 PRAC contract on September 8, 2019. The Project is allowed to keep $12,500 of residual receipts and, therefore, needs to return the excess balance of approximately $128,000 to HUD. The Project was required to return the balance at the expiration of the PRAC term which ended in September 2019. Criteria: Management of the Project is responsible for complying with laws and regulations. Any excess balance greater than $250 per unit in a residual receipts account must be remitted to HUD?s accounting center upon termination of the PRAC. Cause: The Project did not remit the excess of the residual receipts to HUD upon termination of the PRAC. Effect: The Project owes $128,124 to HUD for the excess in the residual receipts account based on $250 per unit and the property having 50 units subject to the agreement. Recommendation: We recommend that management review the excess of the residual receipts account and return the excess in the account to HUD or gain approval to use the excess funds on a timely basis. Auditee Response and Action Plan: Management of the Project is aware they are responsible for complying with laws and regulations and that any balance greater than $250 per unit in a residual receipts account must be remitted to HUD?s accounting center upon termination of the PRAC. Project management is making a request to HUD to use the excess residual receipts towards future repair and replacement reserves.
Item 2019-001 Failing to return excess residual receipts to HUD Corrective Action Plan: Management of the Project is aware they are responsible for complying with laws and regulations and that any balance greater than $250 per unit in a residual receipts account must be remitted to HUD?s accounting center upon termination of the PRAC. Project management is making a request to HUD to use the excess residual receipts towards future repair and replacement reserves.
FAC accepted this audit on April 8, 2019 — management decision was due October 8, 2019.
FAC accepted this audit on April 16, 2018 — management decision was due October 16, 2018.
GSA_MIGRATION
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GSA_MIGRATION
FAC accepted this audit on April 4, 2017 — management decision was due October 4, 2017.
GSA_MIGRATION
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GSA_MIGRATION
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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