EIN: 113051052
UEI: HQ7HLHGKAJW9
Audited by: Bonadio & Co., LLP
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on May 26, 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 November 26, 2026 (89 days from today).
What is a management decision? →FAC accepted this audit on April 16, 2025 — management decision was due October 16, 2025.
FAC accepted this audit on August 20, 2024 — management decision was due February 20, 2025.
FAC accepted this audit on September 28, 2023 — management decision was due March 28, 2024.
FAC accepted this audit on May 4, 2022 — management decision was due November 4, 2022.
FAC accepted this audit on April 21, 2021 — management decision was due October 21, 2021.
FAC accepted this audit on May 21, 2020 — management decision was due November 21, 2020.
Internal Control over Timely Review of Bank ReconciliationsDuring our audit, we noted that bank reconciliations lacked evidence of timely review. Although bankreconciliations had evidence of review, the time between the date of receipt of the bank statements andthe subsequent reconciliation and review was not completed timely (within one month).
Show full finding ▾Hide full finding ▴Internal Control over Timely Review of Bank ReconciliationsDuring our audit, we noted that bank reconciliations lacked evidence of timely review. Although bankreconciliations had evidence of review, the time between the date of receipt of the bank statements andthe subsequent reconciliation and review was not completed timely (within one month).
As a result of the significant turnover in the CFO and Director of Finance position in prior years, theOrganization has struggled to complete bank reconciliations and related reviews on a timely basis.Management has noted that they are aware of this issue, and they are confident that they haveimplemented sufficient policies to ensure they are caught up with bank reconciliations to ensure they arecompleted in a timely manner.
Internal Control over Review of Journal EntriesReview or approval of journal entries prepared by the accounting department prior to posting to thegeneral ledger should be performed and documented on a routine basis. While management reviews thebalance sheet and income statement regularly, this does not sufficiently mitigate the risk that inaccurateentries may be posted, resulting in errors in financial reporting.
Show full finding ▾Hide full finding ▴Internal Control over Review of Journal EntriesReview or approval of journal entries prepared by the accounting department prior to posting to thegeneral ledger should be performed and documented on a routine basis. While management reviews thebalance sheet and income statement regularly, this does not sufficiently mitigate the risk that inaccurateentries may be posted, resulting in errors in financial reporting.
As a result of the significant turnover in the CFO and Director of Finance position in prior years, theOrganization has struggled to continue following financial policies with regards to journal entries andproper review of such entries by a qualified individual other than the individual posting the entries to thegeneral ledger. Management has agreed to implement a policy to have the CEO review journal entriesmade by the Director of Finance over $25,000, on a monthly basis, to ensure proper oversight of entriesbeing posted to the general ledger on a regular basis.
Internal Control over Review of Monthly Financial StatementsReview or approval of monthly financial statements prepared by the Director of Finance should beperformed and documented on a routine basis. While management reviews the balance sheet and incomestatement regularly, the lack of formal documentation of such review leaves the Organization exposed tothe risk of insufficient review of financial reporting, which could result in errors in financial reporting.
Show full finding ▾Hide full finding ▴Internal Control over Review of Monthly Financial StatementsReview or approval of monthly financial statements prepared by the Director of Finance should beperformed and documented on a routine basis. While management reviews the balance sheet and incomestatement regularly, the lack of formal documentation of such review leaves the Organization exposed tothe risk of insufficient review of financial reporting, which could result in errors in financial reporting.
Management noted that monthly financial statements are prepared by the Director of Finance andreviewed by the CEO and VP of HUD Housing, but there is no formal documentation of such review. TheOrganization is currently working on the implementation of Microsoft Cloud to allow the ability for edits andsignoffs of monthly financial statements, along with other documentation, on a real time basis, which willadd formal documentation of sufficient review of monthly financial statements.
FAC accepted this audit on July 29, 2019 — management decision was due January 29, 2020.
FAC accepted this audit on November 5, 2018 — management decision was due May 5, 2019.
FAC accepted this audit on September 18, 2017 — management decision was due March 18, 2018.
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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