ROSALE HOUSING DEVELOPMENT FUND CORPORATION

EIN: 113329140

UEI: GSA_MIGRATION

Data as of August 22, 2026

ROSALE HOUSING DEVELOPMENT FUND CORPORATION4 audit years13 findings12 repeat
4
Audit Years
13
Total Findings
12
Repeat Findings

FY 2019-12-31

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on September 26, 2023. 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 March 26, 2024 (879 days ago).

What is a management decision? →
2019-001
Reporting
REPEAT

Finding 2019-001: Financial Reporting ? Untimely Submission of Single Audit Report to the Federal Audit Clearinghouse Criteria The Entity?s Uniform Guidance submission to the FAC was not filed within nine months from the end of fiscal year. Condition The Entity?s Uniform Guidance submission to the FAC and the electronic submission to REAC were not filed within nine months of the end of its fiscal year. Cause Due to Entity?s inability to pay its prior year audit fees, the audit could not be commenced or completed timely. Therefore, the Entity?s 2019 Uniform Guidance submission to the FAC was not completed within the nine months of the end of its fiscal year. Questioned Costs None noted. Context When performing our audit we noted that the Uniform Guidance submission to the FAC and the electronic submission to REAC were not filed on a timely basis. Effect The Entity was not in compliance with the requirement to complete the filing for the Entity?s Uniform Guidance and the electronic submission to REAC within nine months of its year end, and therefore, the Entity cannot be considered a low risk auditee. Identification of a repeat finding: This is a repeat finding from the immediate previous audit, 2018-001. Recommendation We recommend that Entity?s Uniform Guidance submission to the FAC be filed within nine months of its year end as required. Views of Responsible Official and Planned Corrective Action See Corrective Action Plan attached.

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Finding 2019-001: Financial Reporting ? Untimely Submission of Single Audit Report to the Federal Audit Clearinghouse Criteria The Entity?s Uniform Guidance submission to the FAC was not filed within nine months from the end of fiscal year. Condition The Entity?s Uniform Guidance submission to the FAC and the electronic submission to REAC were not filed within nine months of the end of its fiscal year. Cause Due to Entity?s inability to pay its prior year audit fees, the audit could not be commenced or completed timely. Therefore, the Entity?s 2019 Uniform Guidance submission to the FAC was not completed within the nine months of the end of its fiscal year. Questioned Costs None noted. Context When performing our audit we noted that the Uniform Guidance submission to the FAC and the electronic submission to REAC were not filed on a timely basis. Effect The Entity was not in compliance with the requirement to complete the filing for the Entity?s Uniform Guidance and the electronic submission to REAC within nine months of its year end, and therefore, the Entity cannot be considered a low risk auditee. Identification of a repeat finding: This is a repeat finding from the immediate previous audit, 2018-001. Recommendation We recommend that Entity?s Uniform Guidance submission to the FAC be filed within nine months of its year end as required. Views of Responsible Official and Planned Corrective Action See Corrective Action Plan attached.

Corrective Action Plan

Finding 2019-001: Rosale HDFC acknowledges that the HUD financial information was not submitted timely to the Federal Audit Clearinghouse (FAC). Due to cash flow constraints, Rosa le was unable to pay the prior year's audit fees, and thereby, the financial statements were not finalized by the due date. The Entity is taking steps to ensure audit payments are made in the future. The financial statements will be filed as soon as possible.

Prior Finding References

2018-001

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2019-002
Reporting
REPEAT

Finding 2019-002: Financial Reporting ? Untimely Submission of Electronic Data into the HUD Real Estate Assessment Center (REAC) Criteria HUD requires that any entity required to have an audit under its requirements is also required to submit its financial information electronic submission to REAC within nine months of its year end. Condition The Entity?s electronic submission to REAC were not filed within nine months from the end of fiscal year. Cause Due to Entity?s inability to pay its prior year audit fees, the audit could not be commenced or completed timely. Therefore, the Entity?s 2019 REAC electronic submission was not completed within the nine months of the end of its fiscal year. Questioned Costs None noted. Context When performing our audit we noted that the electronic submission of financial information to REAC was not filed on a timely basis. Effect The Entity was not in compliance with the requirement to complete the filing of the Entity?s electronic submission to REAC within nine months of its year end, and therefore, the Entity cannot be considered a low risk auditee. Identification of a repeat finding: This is a repeat finding from the immediate previous audit, 2018-002. Recommendation We recommend that the Entity?s electronic submission to REAC be filed within nine months of its year end as required. Views of Responsible Official and Planned Corrective Action See Corrective Action Plan attached.

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Finding 2019-002: Financial Reporting ? Untimely Submission of Electronic Data into the HUD Real Estate Assessment Center (REAC) Criteria HUD requires that any entity required to have an audit under its requirements is also required to submit its financial information electronic submission to REAC within nine months of its year end. Condition The Entity?s electronic submission to REAC were not filed within nine months from the end of fiscal year. Cause Due to Entity?s inability to pay its prior year audit fees, the audit could not be commenced or completed timely. Therefore, the Entity?s 2019 REAC electronic submission was not completed within the nine months of the end of its fiscal year. Questioned Costs None noted. Context When performing our audit we noted that the electronic submission of financial information to REAC was not filed on a timely basis. Effect The Entity was not in compliance with the requirement to complete the filing of the Entity?s electronic submission to REAC within nine months of its year end, and therefore, the Entity cannot be considered a low risk auditee. Identification of a repeat finding: This is a repeat finding from the immediate previous audit, 2018-002. Recommendation We recommend that the Entity?s electronic submission to REAC be filed within nine months of its year end as required. Views of Responsible Official and Planned Corrective Action See Corrective Action Plan attached.

Corrective Action Plan

Finding 2019-002: Rosale HDFC acknowledges that the HUD REAC was not submitted timely. Due to cash flow constraints, Rosale was unable to pay the prior year's audit fees, and thereby, the financial statements were not finalized by the due date. The Entity has taken steps to ensure audit payments are being made. The HUD REAC report will be submitted soon.

Prior Finding References

2018-002

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2019-003
Cost Allowability
REPEAT

Finding 2019-003: Unauthorized Loans of Project Funds Criteria The HUD regulatory agreement does not allow the Entity to loan, advance or make payment of project funds to Members of the Board of Directors. Condition During the years leading up to and including 2014 the Entity paid stipends to its Board Members totaling $71,852. Those funds have not been repaid as of December 31, 2019. Cause The Entity?s management was not aware of this requirement at the time that the stipends were paid. Questioned Costs None noted. Context When performing our audit we noted that these funds had not been repaid to the Entity. Effect The Entity was not in compliance with the regulatory agreement and does not have these funds available to pay for project operations. Recommendation We recommend that Entity establish agreements with the Board Members to allow for the repayment of these funds. Identification of a repeat finding: This is a repeat finding from the immediate previous audit, 2018-003. Views of Responsible Official and Planned Corrective Action See Corrective Action Plan attached.

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Finding 2019-003: Unauthorized Loans of Project Funds Criteria The HUD regulatory agreement does not allow the Entity to loan, advance or make payment of project funds to Members of the Board of Directors. Condition During the years leading up to and including 2014 the Entity paid stipends to its Board Members totaling $71,852. Those funds have not been repaid as of December 31, 2019. Cause The Entity?s management was not aware of this requirement at the time that the stipends were paid. Questioned Costs None noted. Context When performing our audit we noted that these funds had not been repaid to the Entity. Effect The Entity was not in compliance with the regulatory agreement and does not have these funds available to pay for project operations. Recommendation We recommend that Entity establish agreements with the Board Members to allow for the repayment of these funds. Identification of a repeat finding: This is a repeat finding from the immediate previous audit, 2018-003. Views of Responsible Official and Planned Corrective Action See Corrective Action Plan attached.

Corrective Action Plan

Finding 2019-003: Rosale HDFC Board Members (prior to 2014) paid themselves stipends out of funds in their control not knowing that the payments should not be made as per HUD requirements. Numerous attempts were made since then to obtain reimbursement for the Entity. The Entity is seeking guidance from HUD.

Prior Finding References

2018-003

About Allowable Costs / Cost Principles →

FY 2018-12-31

FAC accepted this audit on September 19, 2022 — management decision was due March 19, 2023.

2018-001
Reporting
REPEAT

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

Prior Finding References

2017-001

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2018-002
Reporting
REPEAT

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

Prior Finding References

2017-002

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2018-003
Cost Allowability
REPEAT

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

Prior Finding References

2017-003

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FY 2017-12-31

FAC accepted this audit on June 24, 2019 — management decision was due December 24, 2019.

2017-001
Reporting
REPEAT

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

Prior Finding References

2016-001

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2017-002
Reporting
REPEAT

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

Prior Finding References

2016-002

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2017-003
Other
REPEAT

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

Prior Finding References

2016-003

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FY 2016-12-31

FAC accepted this audit on October 15, 2018 — management decision was due April 15, 2019.

2016-001
Other

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

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2016-002
Reporting
REPEAT

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

Prior Finding References

2015-001

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2016-003
Reporting
REPEAT

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

Prior Finding References

2015-001

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2016-004
Activities Allowed or Unallowed
REPEAT

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

Prior Finding References

2014-001

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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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