EIN: 133269323
UEI: V7KSJFH26LD5
Audited by: Vargas & Rivera LLP
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 29, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on September 29, 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 March 29, 2026 (154 days ago).
What is a management decision? →FAC accepted this audit on October 1, 2024 — management decision was due April 1, 2025.
FAC accepted this audit on September 28, 2023 — management decision was due March 28, 2024.
FAC accepted this audit on September 29, 2022 — management decision was due March 29, 2023.
FAC accepted this audit on September 30, 2021 — management decision was due March 30, 2022.
Finding No. 2020-001: Section 811, CFDA 14.182 Criteria - Replacement Reserves Compliance Requirement Owners shall establish and maintain a replacement reserve to aid in funding extraordinary maintenance and repair and replacement of capital items. The replacement reserve funds must be deposited in a federally insured depository in an interest bearing account. All earnings including interest on the reserve must be added to the reserve. An amount as required by HUD will be deposited monthly in the reserve fund (Regulatory Agreement, item 5 A). All disbursements from the reserve must be approved by HUD (24 CFR sections 891 405 and 891 605). Condition - The required deposits were not made. Cause - There was not enough cash on hand to remit the required deposits due to the vacancy losses. Effect - The Project is not in compliance with the Regulatory Agreement. Context - The required deposits were not made. Recommendation - The Organization should review on a monthly basis the activity in the reserve account to ensure all deposits have been properly funded. Views of Responsible Officials and Planned Corrective Actions - The Organization agrees with the finding and was aware of the monthly deposit requirement.
Show full finding ▾Hide full finding ▴Finding No. 2020-001: Section 811, CFDA 14.182 Criteria - Replacement Reserves Compliance Requirement Owners shall establish and maintain a replacement reserve to aid in funding extraordinary maintenance and repair and replacement of capital items. The replacement reserve funds must be deposited in a federally insured depository in an interest bearing account. All earnings including interest on the reserve must be added to the reserve. An amount as required by HUD will be deposited monthly in the reserve fund (Regulatory Agreement, item 5 A). All disbursements from the reserve must be approved by HUD (24 CFR sections 891 405 and 891 605). Condition - The required deposits were not made. Cause - There was not enough cash on hand to remit the required deposits due to the vacancy losses. Effect - The Project is not in compliance with the Regulatory Agreement. Context - The required deposits were not made. Recommendation - The Organization should review on a monthly basis the activity in the reserve account to ensure all deposits have been properly funded. Views of Responsible Officials and Planned Corrective Actions - The Organization agrees with the finding and was aware of the monthly deposit requirement.
Management's Planned Corrective Action Plan For the Year Ended December 31, 2020 Names of contact person(s) responsible for corrective action: Zulma Zayas, Management Agent and Administrator Federal Award Finding and Questioned Costs Finding No. 2020-001: Supportive Housing for the Elderly (Section 202) - CFDA 14.157 Casa Victoria Housing Development Fund Company, Inc. 308 East 8th Street New York, NY 10009 Planned Corrective Action: The Project's management is aware of the required deposits to the replacement reserve account. Deposits were not made due to the vacancy loss caused by the COVID 19 pandemic, which resulted in a decrease in cash flows. Anticipated Completion Date September 28 2021
FAC accepted this audit on September 30, 2020 — management decision was due March 30, 2021.
FAC accepted this audit on September 30, 2019 — management decision was due March 30, 2020.
FAC accepted this audit on September 27, 2018 — management decision was due March 27, 2019.
FAC accepted this audit on May 11, 2017 — management decision was due November 11, 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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