EIN: 204073617
UEI: GSA_MIGRATION
Data as of August 24, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on May 25, 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 November 25, 2021 (1733 days ago).
What is a management decision? →Statement of condition The Association failed to accurately record transactions in the general ledger resulting in numerous adjusting journal entries. Criteria In accordance with the regulatory agreement, management is required to accurately record all transactions in the general ledger in accordance with U.S. Generally Accepted Accounting Principles. Context The procedures to ensure compliance with HUD regulations regarding accurately recording financial transactions in the general ledger were not followed. Effect The Association was unable to provide financial information in accordance with U.S. Generally Accepted Accounting Principles. Cause The procedures to ensure compliance with HUD regulations regarding accurately recording financial transactions in the general ledger were not followed. Identification as a repeat finding: Yes Recommendation Management should ensure that all financial transactions are accurately recorded in the general ledger in compliance with U.S. Generally Accepted Accounting Standards. Auditor Noncompliance Code S ? Internal control deficiencies Amount of questioned costs $0 Finding resolution In process Views of responsible officials and planned actions: Management agrees with the auditor?s finding and has taken action to ensure that all financial transactions are recorded in accordance with U.S. Generally Accepted Accounting Principles.
Show full finding ▾Hide full finding ▴Statement of condition The Association failed to accurately record transactions in the general ledger resulting in numerous adjusting journal entries. Criteria In accordance with the regulatory agreement, management is required to accurately record all transactions in the general ledger in accordance with U.S. Generally Accepted Accounting Principles. Context The procedures to ensure compliance with HUD regulations regarding accurately recording financial transactions in the general ledger were not followed. Effect The Association was unable to provide financial information in accordance with U.S. Generally Accepted Accounting Principles. Cause The procedures to ensure compliance with HUD regulations regarding accurately recording financial transactions in the general ledger were not followed. Identification as a repeat finding: Yes Recommendation Management should ensure that all financial transactions are accurately recorded in the general ledger in compliance with U.S. Generally Accepted Accounting Standards. Auditor Noncompliance Code S ? Internal control deficiencies Amount of questioned costs $0 Finding resolution In process Views of responsible officials and planned actions: Management agrees with the auditor?s finding and has taken action to ensure that all financial transactions are recorded in accordance with U.S. Generally Accepted Accounting Principles.
Management will book the adjusting journal entries provided for 2020 and will review current policies/procedures to ensure they comply with U.S. Generally Accepted Accounting Policies.
2019-001
FAC accepted this audit on May 31, 2020 — management decision was due December 1, 2020.
Statement of condition The Association failed to accurately record transactions in the general ledger resulting in numerous adjusting journal entries. Criteria In accordance with the regulatory agreement, management is required to accurately record all transactions in the general ledger in accordance with U.S. Generally Accepted Accounting Principles.Context The procedures to ensure compliance with HUD regulations regarding accurately recording financial transactions in the general ledger were not followed. Effect The Association was unable to provide financial information in accordance with U.S. Generally Accepted Accounting Principles. Cause The procedures to ensure compliance with HUD regulations regarding accurately recording financial transactions in the general ledger were not followed. Identification as a repeat finding: No Recommendation Management should ensure that all financial transactions are accurately recorded in the general ledger in compliance with U.S. Generally Accepted Accounting Standards. Auditor Noncompliance Code I ? Failure to maintain property physical inspection Amount of questioned costs $0 Finding resolution In process Views of responsible officials and planned actions: Management agrees with the auditor?s finding and has taken action to ensure that all financial transactions are recorded in accordance with U.S. Generally Accepted Accounting Principles.
Show full finding ▾Hide full finding ▴Statement of condition The Association failed to accurately record transactions in the general ledger resulting in numerous adjusting journal entries. Criteria In accordance with the regulatory agreement, management is required to accurately record all transactions in the general ledger in accordance with U.S. Generally Accepted Accounting Principles.Context The procedures to ensure compliance with HUD regulations regarding accurately recording financial transactions in the general ledger were not followed. Effect The Association was unable to provide financial information in accordance with U.S. Generally Accepted Accounting Principles. Cause The procedures to ensure compliance with HUD regulations regarding accurately recording financial transactions in the general ledger were not followed. Identification as a repeat finding: No Recommendation Management should ensure that all financial transactions are accurately recorded in the general ledger in compliance with U.S. Generally Accepted Accounting Standards. Auditor Noncompliance Code I ? Failure to maintain property physical inspection Amount of questioned costs $0 Finding resolution In process Views of responsible officials and planned actions: Management agrees with the auditor?s finding and has taken action to ensure that all financial transactions are recorded in accordance with U.S. Generally Accepted Accounting Principles.
Management will book the Adjusting Journal Entries provided for 2019 and will review current policies/procedures to ensure they comply with U.S. Generally Accepted Accounting Principles.
Statement of condition The Association failed to maintain the property in good repair and received a score of 58c in its 2018 REAC Physical Inspection. Criteria In accordance with the regulatory agreement, management is required to maintain the property in good repair. Context The procedures to ensure compliance with HUD regulations regarding physical condition of the property were not followed. Effect The project was unable to obtain a passing score on its REAC inspection. Cause The procedures to ensure compliance with HUD regulations regarding physical condition of the property were not followed. Identification as a repeat finding: No Recommendation Management should ensure that the property is maintained in good physical condition. Auditor Noncompliance Code I ? Failure to maintain property physical inspection Amount of questioned costs $0 Finding resolution Resolved Views of responsible officials and planned actions: Management agrees with the auditor?s finding and has taken action and corrected all issues noted in the REAC inspection. In addition, maintenance staff is inspecting common areas on a daily basis and individual units will be inspect every four months.
Show full finding ▾Hide full finding ▴Statement of condition The Association failed to maintain the property in good repair and received a score of 58c in its 2018 REAC Physical Inspection. Criteria In accordance with the regulatory agreement, management is required to maintain the property in good repair. Context The procedures to ensure compliance with HUD regulations regarding physical condition of the property were not followed. Effect The project was unable to obtain a passing score on its REAC inspection. Cause The procedures to ensure compliance with HUD regulations regarding physical condition of the property were not followed. Identification as a repeat finding: No Recommendation Management should ensure that the property is maintained in good physical condition. Auditor Noncompliance Code I ? Failure to maintain property physical inspection Amount of questioned costs $0 Finding resolution Resolved Views of responsible officials and planned actions: Management agrees with the auditor?s finding and has taken action and corrected all issues noted in the REAC inspection. In addition, maintenance staff is inspecting common areas on a daily basis and individual units will be inspect every four months.
The Cooperative immediately took action and corrected all issues noted in the REAC Inspection report.To ensure the physical condition of the property will be maintained maintenance will be inspecting all individual units every four months and will be inspecting common areas daily. Management will inspect all areas of the building (with the exception of individual units) weekly. Senior Management will inspect the property quarterly. Any deficient items noted will be corrected immediately.
FAC accepted this audit on April 18, 2019 — management decision was due October 18, 2019.
GSA_MIGRATION
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GSA_MIGRATION
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