EIN: 202754745
UEI: NZG4DZFNS5H7
Audited by: WithumSmith+Brown, PC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on February 18, 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 August 18, 2025 (381 days ago).
What is a management decision? →Finding 2024-001: Special Tests and Provisions – Project Funds Information on the Federal Program: U.S. Housing of Urban Development (HUD) – 14.181 Supportive Housing for Persons with Disabilities; FAIN #034HD110; July 1, 2023 – June 30, 2024 Finding Type: Significant Deficiency Criteria: In accordance with 24 CFR 891.400(e), a separate interest-bearing project fund account shall be maintained in a depository or depositories which are members of the Federal Deposit Insurance Corporation or National Credit Union Share Insurance Fund and all tenant payments, charges, income and revenues arising from project operation or ownership shall be deposited to this account. Condition and Context: During our testing, we noted that the project fund account used by the Project was not an interest-bearing account Cause: Subsequent to the initial rental assistance contract, changes to HUD regulations resulted in the requirement that the project fund account be an interest-bearing account. This change was an oversight by the Project’s management. Effect or Potential Effect: Project funds would not earn interest in accordance with HUD requirements. Questioned Costs: None Recommendation: We recommend that the Project utilize an interest-bearing account for project funds in accordance with HUD requirements. Management’s Response: Although the Project does not currently use an interest-bearing account for project funs, due to the ongoing operation of the program and continuous activity within the project funds account, any interest earned in such an account would be negligible. Management is in the process of evaluating this recommendation to determine the appropriate course of action. Planned Implementation Date of Corrective Action: February 2025 Person Responsible for Corrective Action: Chief Financial Officer
Show full finding ▾Hide full finding ▴Finding 2024-001: Special Tests and Provisions – Project Funds Information on the Federal Program: U.S. Housing of Urban Development (HUD) – 14.181 Supportive Housing for Persons with Disabilities; FAIN #034HD110; July 1, 2023 – June 30, 2024 Finding Type: Significant Deficiency Criteria: In accordance with 24 CFR 891.400(e), a separate interest-bearing project fund account shall be maintained in a depository or depositories which are members of the Federal Deposit Insurance Corporation or National Credit Union Share Insurance Fund and all tenant payments, charges, income and revenues arising from project operation or ownership shall be deposited to this account. Condition and Context: During our testing, we noted that the project fund account used by the Project was not an interest-bearing account Cause: Subsequent to the initial rental assistance contract, changes to HUD regulations resulted in the requirement that the project fund account be an interest-bearing account. This change was an oversight by the Project’s management. Effect or Potential Effect: Project funds would not earn interest in accordance with HUD requirements. Questioned Costs: None Recommendation: We recommend that the Project utilize an interest-bearing account for project funds in accordance with HUD requirements. Management’s Response: Although the Project does not currently use an interest-bearing account for project funs, due to the ongoing operation of the program and continuous activity within the project funds account, any interest earned in such an account would be negligible. Management is in the process of evaluating this recommendation to determine the appropriate course of action. Planned Implementation Date of Corrective Action: February 2025 Person Responsible for Corrective Action: Chief Financial Officer
Although the Project does not currently use an interest-bearing account for project funs, due to the ongoing operation of the program and continuous activity within the project funds account, any interest earned in such an account would be negligible. Management is in the process of evaluating this recommendation to determine the appropriate course of action.
FAC accepted this audit on March 14, 2024 — management decision was due September 14, 2024.
FAC accepted this audit on September 28, 2021 — management decision was due March 28, 2022.
FAC accepted this audit on September 28, 2016 — management decision was due March 28, 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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