EIN: 203503162
UEI: JDZNNJ34QMC4
Audited by: Dauby O'Connor & Zaleski, LLC
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 January 16, 2026. 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 July 16, 2026 (48 days ago).
What is a management decision? →FAC accepted this audit on October 20, 2024 — management decision was due April 20, 2025.
FAC accepted this audit on June 12, 2024 — management decision was due December 12, 2024.
Statement of condition 2023-001: As of June 30, 2023, deposits to the reserve for replacements totaling $768 had not been made. Criteria: Pursuant to Section 10 of the Regulatory Agreement, the Company shall deposit a monthly amount into the reserve for replacements account. The amount of the monthly deposit may be increased or decreased from time to time at the written direction of HUD. Effective April 1, 2023, HUD increased the monthly deposit from $8,012 to $8,396. Effect: The Company was not in compliance with the terms of the Regulatory Agreement. The reserve for replacements was underfunded by $768 as of June 30, 2023. Cause: Effective April 1, 2023, HUD increased the monthly deposit from $8,012 to $8,396. Management inadvertently did not increase the monthly deposit until June 2023. In addition, the initial notice to cover the $768 shortfall sent to management from the lender was not received by management until July 17, 2023. Recommendation: Management should transfer $768 from the operating checking account to the reserve for replacements. Management's response: Management concurs with the finding and recommendation and transferred $768 to the reserve for replacements on August 11, 2023.
Show full finding ▾Hide full finding ▴Statement of condition 2023-001: As of June 30, 2023, deposits to the reserve for replacements totaling $768 had not been made. Criteria: Pursuant to Section 10 of the Regulatory Agreement, the Company shall deposit a monthly amount into the reserve for replacements account. The amount of the monthly deposit may be increased or decreased from time to time at the written direction of HUD. Effective April 1, 2023, HUD increased the monthly deposit from $8,012 to $8,396. Effect: The Company was not in compliance with the terms of the Regulatory Agreement. The reserve for replacements was underfunded by $768 as of June 30, 2023. Cause: Effective April 1, 2023, HUD increased the monthly deposit from $8,012 to $8,396. Management inadvertently did not increase the monthly deposit until June 2023. In addition, the initial notice to cover the $768 shortfall sent to management from the lender was not received by management until July 17, 2023. Recommendation: Management should transfer $768 from the operating checking account to the reserve for replacements. Management's response: Management concurs with the finding and recommendation and transferred $768 to the reserve for replacements on August 11, 2023.
Comments on the Finding and Each Recommendation: As of June 30, 2023, deposits to the reserve for replacements totaling $768 had not been made. Pursuant to Section 10 of the Regulatory Agreement, the Company shall deposit a monthly amount into the reserve for replacements account. The amount of the monthly deposit may be increased or decreased from time to time at the written direction of HUD. Effective April 1, 2023, HUD increased the monthly deposit from $8,012 to $8,396. Management inadvertently did not increase the monthly deposit until June 2023. As a result, the Company was not in compliance with the terms of the Regulatory Agreement. The reserve for replacements was underfunded by $768 as of June 30, 2023. Action(s) taken or planned on the finding: Management concurs with the finding and recommendation and transferred $768 to the reserve for replacements on August 11, 2023. No further action is required.
FAC accepted this audit on December 20, 2022 — management decision was due June 20, 2023.
FAC accepted this audit on September 29, 2021 — management decision was due March 29, 2022.
FAC accepted this audit on September 20, 2020 — management decision was due March 20, 2021.
FAC accepted this audit on September 25, 2019 — management decision was due March 25, 2020.
FAC accepted this audit on September 30, 2018 — management decision was due March 30, 2019.
FAC accepted this audit on September 28, 2017 — management decision was due March 28, 2018.
FAC accepted this audit on October 2, 2016 — management decision was due April 2, 2017.
GSA_MIGRATION
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GSA_MIGRATION
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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