EIN: 133843955
UEI: ZD8CQMCG5ZS7
Audited by: GALLEROS ROBINSON CERTIFIED PUBLIC ACCOUNTANTS, LLP
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on July 1, 2024. 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 January 1, 2025 (608 days ago).
What is a management decision? →Criteria 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 Deposits into the reserve account were not made monthly. Two (2) out of 12 monthly deposit to the reserve account were made subsequent to June 30, 2023. Cause An oversight which was corrected subsequent to June 30, 2023. Effect Required replacement reserve was not complied with during fiscal year 2023. Questioned Cost None. Context Failure to make required monthly deposits for two (2) months. Recommendation We recommend that the Corporation regularly monitors the replacement reserve to ensure that it complies with the requirements of 24 CFR sections 891.405 and 891.605. View of Responsible Official and Planned Corrective Action We will monitor monthly to ensure deposits to replacement reserves are done on a timely basis.
Show full finding ▾Hide full finding ▴Criteria 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 Deposits into the reserve account were not made monthly. Two (2) out of 12 monthly deposit to the reserve account were made subsequent to June 30, 2023. Cause An oversight which was corrected subsequent to June 30, 2023. Effect Required replacement reserve was not complied with during fiscal year 2023. Questioned Cost None. Context Failure to make required monthly deposits for two (2) months. Recommendation We recommend that the Corporation regularly monitors the replacement reserve to ensure that it complies with the requirements of 24 CFR sections 891.405 and 891.605. View of Responsible Official and Planned Corrective Action We will monitor monthly to ensure deposits to replacement reserves are done on a timely basis.
We will monitor monthly to ensure deposits to Replacement Reserve are done on a timely basis.
2022-002
FAC accepted this audit on August 8, 2023 — management decision was due February 8, 2024.
Criteria Any funds in the project funds account (including earned interest) at the end of the fiscal year shall be deposited in a federally insured account within 60 days following the end of the fiscal year. (24 CFR section 891.400(e)). Condition Residual receipt was not funded within 60 days from the Organization?s fiscal year end. Questioned Cost None. Context Cash surplus for the year ended June 30, 2022 was not deposited timely. Cause An oversight which was corrected. Effect Residual receipt requirement was not complied with during fiscal year 2022. Recommendation We recommend that the Organization regularly monitors cash surplus to ensure that it complies with the requirements of 24 CFR section 891.400(e). View of Responsible Official and Planned Corrective Action We will regularly perform surplus calculation and comply with the required funding of the residual receipts account and will fund in within 60 days from the Corporation?s year end.
Show full finding ▾Hide full finding ▴Criteria Any funds in the project funds account (including earned interest) at the end of the fiscal year shall be deposited in a federally insured account within 60 days following the end of the fiscal year. (24 CFR section 891.400(e)). Condition Residual receipt was not funded within 60 days from the Organization?s fiscal year end. Questioned Cost None. Context Cash surplus for the year ended June 30, 2022 was not deposited timely. Cause An oversight which was corrected. Effect Residual receipt requirement was not complied with during fiscal year 2022. Recommendation We recommend that the Organization regularly monitors cash surplus to ensure that it complies with the requirements of 24 CFR section 891.400(e). View of Responsible Official and Planned Corrective Action We will regularly perform surplus calculation and comply with the required funding of the residual receipts account and will fund in within 60 days from the Corporation?s year end.
We will regularly perform surplus calculation and comply with the required funding of the residual receipts account and will fund the shortfall immediately.
2021-001
FAC accepted this audit on September 29, 2022 — management decision was due March 29, 2023.
Criteria - Any funds in the project funds account (including earned interest) at the end of the fiscal year shall be deposited in a federally insured account within 60 days following the end of the fiscal year. (24 CFR section 891.400(e)). Condition - Residual receipt was funded on August 2021 and April 2022 which is after the 60 days from the Organization?s fiscal year end. Questioned Cost - None. Context - Cash surplus for the year ended June 30, 2021 was not deposited timely. Cause - An oversight which was corrected. Effect - Residual receipt requirement was not complied with during fiscal year 2021. Recommendation - We recommend that the Organization regularly monitors cash surplus to ensure that it complies with the requirements of 24 CFR section 891.400(e)
Show full finding ▾Hide full finding ▴Criteria - Any funds in the project funds account (including earned interest) at the end of the fiscal year shall be deposited in a federally insured account within 60 days following the end of the fiscal year. (24 CFR section 891.400(e)). Condition - Residual receipt was funded on August 2021 and April 2022 which is after the 60 days from the Organization?s fiscal year end. Questioned Cost - None. Context - Cash surplus for the year ended June 30, 2021 was not deposited timely. Cause - An oversight which was corrected. Effect - Residual receipt requirement was not complied with during fiscal year 2021. Recommendation - We recommend that the Organization regularly monitors cash surplus to ensure that it complies with the requirements of 24 CFR section 891.400(e)
We will regularly perform surplus calculation and comply with the required funding of the residual receipts account and will fund in within 60 days from the Corporation?s year end.
FAC accepted this audit on October 6, 2021 — management decision was due April 6, 2022.
Criteria - Any funds in the project funds account (including earned interest) at the end of the fiscal year shall be deposited in a federally insured account within 60 days following the end of the fiscal year. (24 CFR section 891.400(e)). Condition - During the year we noted that the cash surplus for the year ended June 30, 2020 was not deposited within 60 days from the Organization?s fiscal year end. Questioned Cost - None. Context - Cash surplus for the year ended June 30, 2020 was not deposited timely. Cause - An oversight which was corrected. Effect - Residual receipt requirement was not complied with during fiscal year 2020. Recommendation - We recommend that the Organization regularly monitors cash surplus to ensure that it complies with the requirements of 24 CFR section 891.400(e).
Show full finding ▾Hide full finding ▴Criteria - Any funds in the project funds account (including earned interest) at the end of the fiscal year shall be deposited in a federally insured account within 60 days following the end of the fiscal year. (24 CFR section 891.400(e)). Condition - During the year we noted that the cash surplus for the year ended June 30, 2020 was not deposited within 60 days from the Organization?s fiscal year end. Questioned Cost - None. Context - Cash surplus for the year ended June 30, 2020 was not deposited timely. Cause - An oversight which was corrected. Effect - Residual receipt requirement was not complied with during fiscal year 2020. Recommendation - We recommend that the Organization regularly monitors cash surplus to ensure that it complies with the requirements of 24 CFR section 891.400(e).
We will regularly perform surplus calculation and comply with the required funding of the residual receipts account and will fund the shortfall immediately.
FAC accepted this audit on October 4, 2020 — management decision was due April 4, 2021.
FAC accepted this audit on March 28, 2019 — management decision was due September 28, 2019.
FAC accepted this audit on February 26, 2018 — management decision was due August 26, 2018.
FAC accepted this audit on March 21, 2017 — management decision was due September 21, 2017.
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