EIN: 204067142
UEI: UTJ2R1GMQ6G8
Data as of August 20, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on August 4, 2019. 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 February 4, 2020, which was (2389 days ago).
What is a management decision? →FINDING NO. 2019-001: SECTION 202, CFDA 14.157 Condition: Required replacement reserve deposits in the amount of $3,000 were not made during the year ended March 31, 2019. Criteria: Pursuant to the Regulatory Agreement, replacement reserve deposits are to be made on a monthly basis into a separate restricted account in an amount as determined by HUD. Effect: The Company was not in compliance with the Regulatory Agreement relative to the required replacement reserve deposits. Context: This was not a sampling audit procedure. Cause: The Company received a rent increase effective August 1, 2018, but has not been able to get HUD to execute and return the approved rent schedule to implement the increase. In addition, the Company had larger vacancies than expected and did not have sufficient cash from operations. Recommendation: Make the delinquent deposit to the reserve for replacements account as required. Auditors? Non-Compliance Code: N ? Owners must make monthly deposits into a reserve for replacements account in an amount determined by HUD. Amount of Questioned Costs $ -0- Auditors? Summary of Auditee?s Comments on the Findings and Recommendations: Auditee agreed with auditors? findings. Response Indicator Accepted Completion Date June 12, 2019 Views of Responsible Officials and Planned Corrective Actions: Management made the required deposits as of June 12, 2019 and will ensure compliance in the future. Contact Person First Name: David Contact Person Last Name: Cooper
Community Reinvestment Foundation ? XV, Inc. respectfully submits the following corrective action plan for the year ended March 31, 2019. Name and address of independent public accounting firm: Merrill & Thoman, LLP, 9449 Priority Way West Drive, Suite 130, Indianapolis, IN 46240 Audit period: Year ended March 31, 2019 The finding from the March 31, 2019 schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Section A of the schedule, Summary of Audit Results, does not include findings and is not addressed. Findings-Financial Statement Audit None Findings-Federal Award programs Audits U.S. Department of Housing and Urban Development Finding 2019-001: Section 202, CFDA 14.157 Recommendation: Make the delinquent deposit to the reserve for replacements account as required. Action taken: Management made the required deposits as of July 26, 2019 and will ensure compliance in the future. If the U.S. Department of Housing and Urban Development has questions regarding this plan, please call David Cooper at 317-554-2100.
2018-001
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on July 17, 2018. 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 17, 2019, which was (2772 days ago).
What is a management decision? →GSA_MIGRATION
GSA_MIGRATION
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on August 14, 2016. 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 February 14, 2017, which was (3474 days ago).
What is a management decision? →GSA_MIGRATION
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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