EIN: 204572509
UEI: GSA_MIGRATION
Audited by: CLIFTONLARSONALLEN
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on August 22, 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 February 22, 2022 (1650 days ago).
What is a management decision? →The Project did not make the required monthly deposits into the Replacement Reserve as required by the regulatory agreement. Criteria or specific requirement: The Project is required to make monthly deposits into the Replacement Reserve. Effect: The Project must make the required deposits to the Replacement Reserve and ensure that going forward all deposits are made on a timely basis. Cause: The Project had turnover in accounting personnel that resulted in the missed deposits. Subsequently the Project has set up reoccurring deposits to ensure deposits are not missed in the future. Recommendation: The Project should ensure monthly deposits are made in accordance with the regulatory agreement on a monthly basis and be reviewed during month end close. Views of responsible officials: There is no disagreement with the audit finding.
Show full finding ▾Hide full finding ▴2021 ? 001 Federal agency: U.S. Department of Housing and Urban Development Federal program title: Section 202 Capital Advance CFDA Number: 14.157 Award Period: April 1, 2020 ? March 31, 2021 Type of Finding: ? Significant Deficiency in Internal Control over Compliance Condition: The Project did not make the required monthly deposits into the Replacement Reserve as required by the regulatory agreement. Criteria or specific requirement: The Project is required to make monthly deposits into the Replacement Reserve. Effect: The Project must make the required deposits to the Replacement Reserve and ensure that going forward all deposits are made on a timely basis. Cause: The Project had turnover in accounting personnel that resulted in the missed deposits. Subsequently the Project has set up reoccurring deposits to ensure deposits are not missed in the future. Recommendation: The Project should ensure monthly deposits are made in accordance with the regulatory agreement on a monthly basis and be reviewed during month end close. Views of responsible officials: There is no disagreement with the audit finding.
Views of Responsible Officials and Planned Corrective Actions: Explanation of Disagreement with Audit Finding: There is no disagreement with the audit finding. Actions Planned in response to Finding: The missed required deposits were made subsequent to year end. Planned Completion Date for Corrective Action Plan: May 2021 Plan to Monitor Completion of Corrective Action Plan: Management has adopted a control where automatic transfers are made each month to the required replacement reserve account to ensure missed deposits does not happen in the future.
FAC accepted this audit on September 16, 2020 — management decision was due March 16, 2021.
FAC accepted this audit on August 6, 2019 — management decision was due February 6, 2020.
FAC accepted this audit on August 5, 2018 — management decision was due February 5, 2019.
FAC accepted this audit on August 23, 2017 — management decision was due February 23, 2018.
FAC accepted this audit on August 8, 2016 — management decision was due February 8, 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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