EIN: 061019968
UEI: MM1NGLT5ALK3
Audited by: MADDOX & ASSOCIATES, APC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on February 1, 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 August 1, 2025 (399 days ago).
What is a management decision? →FAC accepted this audit on March 1, 2024 — management decision was due September 1, 2024.
FAC accepted this audit on September 18, 2023 — management decision was due March 18, 2024.
Required monthly deposits to the replacement reserve are deficient in the amount of $185. Cause: The mortgage holder and management did not receive the deposit increase from HUD until after the effective date. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency was funded on January 4, 2023, in the amount of $185. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $185. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency was funded on January 4, 2023, in the amount of $185. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: January 4, 2023 Response: Management agrees with the finding. The replacement reserve deficiency was funded on January 4, 2023, in the amount of $185. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2022-001 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The regulatory agreement (as amended) requires monthly deposits of $9,134. Statement of Condition: Required monthly deposits to the replacement reserve are deficient in the amount of $185. Cause: The mortgage holder and management did not receive the deposit increase from HUD until after the effective date. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency was funded on January 4, 2023, in the amount of $185. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $185. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency was funded on January 4, 2023, in the amount of $185. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: January 4, 2023 Response: Management agrees with the finding. The replacement reserve deficiency was funded on January 4, 2023, in the amount of $185. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Finding Reference Number: 2022-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The replacement reserve deficiency was funded on January 4, 2023, in the amount of $185. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Completion Date: January 4, 2023
FAC accepted this audit on February 27, 2022 — management decision was due August 27, 2022.
FAC accepted this audit on February 1, 2021 — management decision was due August 1, 2021.
FAC accepted this audit on February 5, 2020 — management decision was due August 5, 2020.
FAC accepted this audit on February 11, 2019 — management decision was due August 11, 2019.
FAC accepted this audit on February 19, 2018 — management decision was due August 19, 2018.
FAC accepted this audit on February 7, 2017 — management decision was due August 7, 2017.
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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