EIN: 201260729
UEI: CZT2HFX6GH75
Data as of August 24, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on November 2, 2021. 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 May 2, 2022 (1575 days ago).
What is a management decision? →The Project did not make timely transfer deposits from the Project operating account into the reserve for replacement and residual receipts accounts as required by the U.S. Department of Housing and Urban Development (HUD). Criteria: The Project is required to make a monthly deposit into the reserve for replacement account and an annual deposit into the residual receipts account within 60 days after fiscal year-end. Context: The required deposit to the residual receipts account was not made within the 60 day period after the previous fiscal year-end, as required by HUD. Cause: Procedures are not in place to ensure that the required deposits are made timely. Due to the size of organization, cash may fluctuate during the year leading to insufficient funds being available to make timely deposits as required by HUD. Effect: The residual receipts accounts did not have the required cash on hand throughout the year that is required by HUD. Recommendation: The Project should implement procedures to have the reserve for replacement deposit made monthly, and the residual receipts deposit made within the required timeframe. View of Responsible Official: Salt & Light Housing I, Inc. has implemented procedures to ensure that a transfer of any cash not used in the current fiscal year into the residual receipts account within the required timeframe.
Show full finding ▾Hide full finding ▴Condition: The Project did not make timely transfer deposits from the Project operating account into the reserve for replacement and residual receipts accounts as required by the U.S. Department of Housing and Urban Development (HUD). Criteria: The Project is required to make a monthly deposit into the reserve for replacement account and an annual deposit into the residual receipts account within 60 days after fiscal year-end. Context: The required deposit to the residual receipts account was not made within the 60 day period after the previous fiscal year-end, as required by HUD. Cause: Procedures are not in place to ensure that the required deposits are made timely. Due to the size of organization, cash may fluctuate during the year leading to insufficient funds being available to make timely deposits as required by HUD. Effect: The residual receipts accounts did not have the required cash on hand throughout the year that is required by HUD. Recommendation: The Project should implement procedures to have the reserve for replacement deposit made monthly, and the residual receipts deposit made within the required timeframe. View of Responsible Official: Salt & Light Housing I, Inc. has implemented procedures to ensure that a transfer of any cash not used in the current fiscal year into the residual receipts account within the required timeframe.
CORRECTIVE ACTION PLAN Name: Salt & Light Housing, Inc. Audit firm: Bowman & Company, LLP Audit period: June 30, 2021 Anticipated Completion: Next fiscal year CAP prepared by: Name: Qindi Shi Position: Chief Financial Officer Telephone number: 609-267-5928 Finding 2021-001 A. Comments of Findings and Recommendations Salt & Light Housing, Inc. concurs with auditor?s finding and corrective actions will be implemented as described in the following paragraph. B. Action Taken or Planned Salt & Light Housing, Inc. agrees with the finding and the Chief Financial Officer has made a firm commitment to obtain the necessary resources and educate existing personnel to address the finding.
FAC accepted this audit on January 3, 2019 — management decision was due July 3, 2019.
GSA_MIGRATION
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GSA_MIGRATION
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