EIN: 133975116
UEI: NN9DU6J36ZC5
Data as of August 24, 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 (600 days ago).
What is a management decision? →Criteria - HUD requires the project to make monthly deposits into the replacement reserve account. The total delinquent deposits for 2023 were $15,324. Statement of Condition - Required replacement reserve deposits were not fully funded in the current year. Cause - The project switched to a new managing agent as of August 1, 2023, which caused an oversight in making the required deposits during the transition period. Questioned Costs - None noted. Effect of Condition - Replacement reserve was not properly funded in a timely manner and those funds may not be available when needed at the end of the project life. Recommendation - Supervisory management should check that required replacement reserve payments are timely made.
Show full finding ▾Hide full finding ▴Criteria - HUD requires the project to make monthly deposits into the replacement reserve account. The total delinquent deposits for 2023 were $15,324. Statement of Condition - Required replacement reserve deposits were not fully funded in the current year. Cause - The project switched to a new managing agent as of August 1, 2023, which caused an oversight in making the required deposits during the transition period. Questioned Costs - None noted. Effect of Condition - Replacement reserve was not properly funded in a timely manner and those funds may not be available when needed at the end of the project life. Recommendation - Supervisory management should check that required replacement reserve payments are timely made.
Views of Responsible Individuals and Planned Corrective Action - Management is aware of the deposit requirements and has funded the delinquent amount. Completion date - March 20, 2024 Contact person - Sonal Shah, Controller
Criteria - The project is required to obtain HUD approval for all withdrawals from the replacement reserve. Statement of Condition - In February 2023, the project withdrew a total of $35,248 from the replacement reserve without obtaining HUD approval. Cause - During 2023, the project experienced an operating cash shortfall and in order to timely pay the operating payables, the total of $35,248 was withdrawn from the replacement reserve without HUD's approval and transferred to the project's operating account. The project intended to repay $35,248 back to the replacement reserve but was prevented from doing so as a result of not receiving full payment from HUD for one of the monthly vouchers. Management is awaiting response from HUD regarding receiving the balance due for the voucher which was not paid in full. Questioned Costs - None noted. Effect of Condition - Unauthorized uses of the replacement reserve funds result in decrease in funds available for future withdrawals. Recommendation - Supervisory management should always obtain HUD approval for all withdrawals from the replacement reserve.
Show full finding ▾Hide full finding ▴Criteria - The project is required to obtain HUD approval for all withdrawals from the replacement reserve. Statement of Condition - In February 2023, the project withdrew a total of $35,248 from the replacement reserve without obtaining HUD approval. Cause - During 2023, the project experienced an operating cash shortfall and in order to timely pay the operating payables, the total of $35,248 was withdrawn from the replacement reserve without HUD's approval and transferred to the project's operating account. The project intended to repay $35,248 back to the replacement reserve but was prevented from doing so as a result of not receiving full payment from HUD for one of the monthly vouchers. Management is awaiting response from HUD regarding receiving the balance due for the voucher which was not paid in full. Questioned Costs - None noted. Effect of Condition - Unauthorized uses of the replacement reserve funds result in decrease in funds available for future withdrawals. Recommendation - Supervisory management should always obtain HUD approval for all withdrawals from the replacement reserve.
Views of Responsible Individuals and Planned Corrective Action - Management is attempting to repay $35,248 into the replacement reserve over the next 12 months. Management is awaiting response from HUD regarding receiving the balance due for the voucher which was not paid in full. Completion date - March 31, 2025 Contact person - Sonal Shah, Controller
FAC accepted this audit on November 14, 2021 — management decision was due May 14, 2022.
Finding No. 2020-01: Required Reserve Deposits Criteria HUD requires the project to make monthly deposits into the replacement reserve account. The total delinquent deposits for 2020 were $25,540. Statement of Condition Required replacement reserve deposits were not funded in the current year since the Corporation is awaiting approval of withdrawals from the reserve for replacement account in the amount of $112,329 for various repairs and maintenance costs. Cause After making for various repair and maintenance payments, the Corporation was a short of cash. The Corporation is waiting for an approval of withdrawals from replacement reserve. Questioned Costs None noted. Effect of Condition Replacement reserve is not properly funded and those funds may not be available when needed at the end of the project life. Recommendation Supervisory management should check that required replacement reserve payments are timely made.
Show full finding ▾Hide full finding ▴Finding No. 2020-01: Required Reserve Deposits Criteria HUD requires the project to make monthly deposits into the replacement reserve account. The total delinquent deposits for 2020 were $25,540. Statement of Condition Required replacement reserve deposits were not funded in the current year since the Corporation is awaiting approval of withdrawals from the reserve for replacement account in the amount of $112,329 for various repairs and maintenance costs. Cause After making for various repair and maintenance payments, the Corporation was a short of cash. The Corporation is waiting for an approval of withdrawals from replacement reserve. Questioned Costs None noted. Effect of Condition Replacement reserve is not properly funded and those funds may not be available when needed at the end of the project life. Recommendation Supervisory management should check that required replacement reserve payments are timely made.
Views of Responsible Individuals and Planned Corrective Action Management will make the delinquent deposits upon receipt of funds out of the reserve for replacement.
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