EIN: 133189285
UEI: EK46WCFML7S6
Data as of August 25, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on June 30, 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 December 30, 2025 (239 days ago).
What is a management decision? →During the year ended September 30, 2024, management did not make the required residual receipts reserve deposit in the amount of $38,870 within 90 day of year end, as required by the HUD regulatory agreement. Effect: The Organization is not in compliance with the Regulatory Agreement. Context: The population included the 12 monthly bank statements. Cause: Controls are not in place to ensure that required residual receipts reserve deposits are made timely. Repeat Finding: 2023-001 Questioned Costs: None. Recommendation: Management should establish internal controls and procedures to ensure that required residual receipts reserve deposits are made timely. Auditor Noncompliance Code: B - Failure to make required residual receipts deposits. Views of Responsible Officials and Planned Corrective Actions: In the future, management will calculate and make an estimated deposit within the 90 days of year end.
Show full finding ▾Hide full finding ▴Criteria - Residual Receipts Account: Compliance Requirement – In accordance with the regulatory agreement, residual receipts reserve deposits should be made within 90 days of year end. Condition: During the year ended September 30, 2024, management did not make the required residual receipts reserve deposit in the amount of $38,870 within 90 day of year end, as required by the HUD regulatory agreement. Effect: The Organization is not in compliance with the Regulatory Agreement. Context: The population included the 12 monthly bank statements. Cause: Controls are not in place to ensure that required residual receipts reserve deposits are made timely. Repeat Finding: 2023-001 Questioned Costs: None. Recommendation: Management should establish internal controls and procedures to ensure that required residual receipts reserve deposits are made timely. Auditor Noncompliance Code: B - Failure to make required residual receipts deposits. Views of Responsible Officials and Planned Corrective Actions: In the future, management will calculate and make an estimated deposit within the 90 days of year end.
Please be advised that the project is about to convert its loan from New York City Housing Development Corporation in the next few months. We are getting pressure from them to line up everything in order to close. This includes engaging a law firm to close the deal, to request a mark-up-to-market rent increase as well as any other associated costs to that conversion. As such, we acknowledge the surplus cash deposit requirement from 9/30/24 in the amount of $38,870 but we need those funds in order to convert.
2023-001
FAC accepted this audit on January 17, 2025 — management decision was due July 17, 2025.
Views of Responsible Officials and Planned Corrective Actions: In the future, management will calculate and make an estimated deposit within the 90 days of year end.
Show full finding ▾Hide full finding ▴Views of Responsible Officials and Planned Corrective Actions: In the future, management will calculate and make an estimated deposit within the 90 days of year end.
Please be advised that we are aware of the requirement to deposit surplus cash by 90 days after the year end. So, while the deposit was due by 12/31/23, at that time the project didn’t have available cash to make that deposit in the amount of $35,253. We were waiting for several large checks to get deposited for tenants who were delinquent, and we also had major increases in our insurance costs and those premiums were due in late December 2023. The required deposit will be made by May 31, 2024.
FAC accepted this audit on April 17, 2018 — management decision was due October 17, 2018.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴GSA_MIGRATION
GSA_MIGRATION
FAC accepted this audit on March 13, 2017 — management decision was due September 13, 2017.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴GSA_MIGRATION
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.
Track your findings and corrective action plans across audit cycles.
Start tracking findings →Monitor subrecipient audit findings and compliance status.
Start monitoring →© 2026 Single Audit Intelligence. All data is public domain.