EIN: 222174852
UEI: UKKHV7GT7U27
Data as of August 20, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on September 30, 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 March 30, 2026, which was (143 days ago).
What is a management decision? →Reference Number: 2024-001 Federal Program: 14.871 – Housing Choice Voucher Cluster Type of Finding: Noncompliance Repeat Finding: Yes – 2023-001 Criteria Public Housing Authorities are required to enter into depository agreements with their financial institutions using the HUD-519999 or a form required by HDU in the ACC. The agreements serve as safeguards for Federal funds a provide third-party rights to HUD. Condition The Commission could not provide depositor agreements with financial institutions holding Federal funds for the Commission. Questioned Costs None. Cause The Commission does not have depositor agreements with financial institutions holding Federal funds for the Commission. Effect The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission. Recommendation The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission. Management’s Response and Corrective Action Plan See schedule of corrective action plan.
U.S. Department of Housing and Urban Development The Housing Commission of Talbot respectfully submits the following corrective action plan for the year ended December 31, 2024 . . Audit period: January 1, 2024 through December 31, 2024 . Th~ finding from the prior audit's schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the number assigned in the prior year. FINDINGS-FINANCIAL STATEMENT AUDIT None FINDINGS-FEDERAL AWARDS 2023-001 Missing Depository Agreements (Significant Deficiency) Condition: The Housing Commission of Talbot (the "Commission") did not set up depository agreements with its financial institutions. Status: This fin.ding is uncleared. A similar finding was noted in fiscal year 2024. The Commission has had prior communications with the Bank regarding the depository agreements requirements. The Bank would not sign due to internal policies. The Commission will coordinate discussions between our HUD local field office and the Bank to discuss the requirements for obtaining a depository agreement. U.S. Department of Housing and Urban Development · The Housing ,Commission -of Talbot- respectfully submits the following corrective action plan for the year ended December 31, 2024. Audit period: January 1, 2024 through December 31, 2024 · :. ·· The findirigs:from the schedule of findings and questioned costs is discussed below. The findings are numbered consistently with the numbers assigned in the schedule. -FINDINGS--FEDERAL AWARD PROGRAMS AUDITS U.S. Department of Housing and Urban Development 2024-001 Missing Depository Agreements (Non Compliance) Recommendation: The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission. Explanation of disagreement with audit.finding: There is no disagreement with the audit finding. Action ~aken in response to finding: The Commission has had prior communications with the Bank regarding the depository agreement requirements. The Bank would not sign due to internal policies. The Commission will continue to coordinate discussions between our HUD local field office and the Bank to discuss the requirements for obtaining a depository agreement. Name(s) of the contact person(s) responsible for corrective action: Don Bibb, Executive Director Planned completion date for corrective action plan: December 31, 2025 If the U.S. Department of Housing and Urban Development has questions regarding this plan, please call Don Bibb, Executive Director
2023-001
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on September 30, 2024. 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 March 30, 2025, which was (508 days ago).
What is a management decision? →Federal Program: 14.871 – Housing Choice Voucher Cluster Type of Finding: Noncompliance Repeat Finding: Yes – 2022-003 Criteria Public Housing Authorities are required to enter into depository agreements with their financial institutions using the HUD-519999 or a form required by HDU in the ACC. The agreements serve as safeguards for Federal funds a provide third-party rights to HUD. Condition The Commission could not provide depositor agreements with financial institutions holding Federal funds for the Commission. Questioned Costs None. Cause The Commission does not have depositor agreements with financial institutions holding Federal funds for the Commission. Effect The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission. Recommendation The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission. Management’s Response and Corrective Action Plan See schedule of corrective action plan.
Missing Depository Agreements ( Non Compliance) Condition: The Housing Commison of Talbot (the "Commision") did not set up depository agreements with its financial institutions. Status: This finding is uncleared. A similar finding was noted in fischal year 2023. The Commission has had prior communications with the Bank regarding the depository agreements requirements. The Bank would not sign due to internal policies. The Commision will coordinate discussions between our HUD local field office and the Bank to discuss the requirements for obtaining a depository agreement.
2022-003
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 15, 2024. 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 September 15, 2024, which was (704 days ago).
What is a management decision? →Criteria The Commission must maintain an adequate system of internal controls over financial reporting in order to initiate, authorize, record, process, and report financial data reliably in accordance with accounting principles generally accepted in the United States of America. Condition Financial information was not available timely to meet the reporting deadlines for the Data Collection Form and FDS submissions. Questioned Costs Unknown. Cause The Commission has not implemented the processes and controls over its finance function needed to prepare accurate and timely financial information that can be used for management decisions. Effect Accurate financial information was not available to make management decisions. Additionally, this resulted in a delay in completing the audit. Recommendation The Commission must implement processes and controls to ensure accurate interim and year-end financial statements. Adequate and accurate financial information is vital to make management decisions that impact the Commission. This information must be shared timely and discussed to make the necessary changes that are needed and to prepare the proper cash flow projections.
Financial Reporting (Material Weakness) Recommendation: The Commission must implement processes and controls to ensure accurate interim and year-end financial statements. Adequate and accurate financial information is vital to make management decisions that impact the Commission. This information must be shared timely and discussed to make the necessary changes that are needed and to prepare the proper cash flow projections. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The Commission will review and enhance our policies and procedures over year end close, to ensure all adjustments are made timely. In addition, we create policy and procedures to perform an assessment for component unit determination of any new legally separate organization that is established. Name(s) of the contact person(s) responsible for corrective action: Don Bibb, Executive Director Planned completion date for corrective action plan: December 31, 2023
2021-001
Criteria It is the auditee’s responsibility to ensure that the Data Collection Form and Financial Data Schedule (FDS) are submitted timely and accurately. The due date for the data collection form is the earlier of 30 days after receipt of the audit report or nine months after the Commission’s yearend, and the due date for the FDS submission is nine months after the Commission’s year-end. Condition The Data Collection Form for the year ended December 31, 2022, was due for submission to the Federal Audit Clearing House by September 30, 2023 (nine months after the Commission yearend) and was not submitted by that date. Additionally, the FDS submission for the year ended December 31, 2022 was due for submission to HUD by the deadline of September 30, 2023 and was not submitted by that date. Questioned Costs None. Cause The Commission has not implemented the processes and controls over its finance function needed to prepare accurate and timely financial information that can be used to complete the Data Collection Form and FDS. Effect Because of the late submission of the audit reports, the reporting package and FDS was not made available to users in a timely manner. Recommendation We recommended that the Commission develop procedures to ensure that future reporting packages and FDS reports are submitted by the respective deadlines.
Data Collection Form and Financial Data Schedule (Non Compliance) Recommendation: We recommended that the Commission develop procedures to ensure that future reporting packages and FDS reports are submitted by the respective deadlines. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The Authority will review and enhance our policies and procedures over year end close, to ensure all adjustments are made timely to allow for timely audit facilitation to ensure we are meeting the DCF and FDS deadlines. Name(s) of the contact person(s) responsible for corrective action: Don Bibb, Executive Director Planned completion date for corrective action plan: December 31, 2023
2021-002
Criteria Public Housing Authorities are required to enter into depository agreements with their financial institutions using the HUD-519999 or a form required by HDU in the ACC. The agreements serve as safeguards for Federal funds a provide third-party rights to HUD. Condition The Commission could not provide depositor agreements with financial institutions holding Federal funds for the Commission. Questioned Costs None. Cause The Commission does not have depositor agreements with financial institutions holding Federal funds for the Commission. Effect The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission. Recommendation The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission.
Missing Depository Agreements (Non Compliance) Recommendation: The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The Commission has had prior communications with the Bank regarding the depository agreements requirements. The Bank would not sign due to internal policies. The Commission will coordinate discussions between our HUD local field office and the Bank to discuss the requirements for obtaining a depository agreement. Name(s) of the contact person(s) responsible for corrective action: Don Bibb, Executive Director Planned completion date for corrective action plan: December 31, 2023
2021-003
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 15, 2024. 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 September 15, 2024, which was (704 days ago).
What is a management decision? →Criteria The Commission must maintain an adequate system of internal controls over financial reporting in order to initiate, authorize, record, process, and report financial data reliably in accordance with accounting principles generally accepted in the United States of America. Condition Financial information was not available timely to meet the reporting deadlines for the Data Collection Form and FDS submissions. Questioned Costs Unknown. Cause The Commission has not implemented the processes and controls over its finance function needed to prepare accurate and timely financial information that can be used for management decisions. Effect Accurate financial information was not available to make management decisions. Additionally, this resulted in a delay in completing the audit. Recommendation The Commission must implement processes and controls to ensure accurate interim and year-end financial statements. Adequate and accurate financial information is vital to make management decisions that impact the Commission. This information must be shared timely and discussed to make the necessary changes that are needed and to prepare the proper cash flow projections.
Financial Reporting (Material Weakness) Recommendation: The Commission must implement processes and controls to ensure accurate interim and year-end financial statements. Adequate and accurate financial information is vital to make management decisions that impact the Commission. This information must be shared timely and discussed to make the necessary changes that are needed and to prepare the proper cash flow projections. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The Commission will review and enhance our policies and procedures over year end close, to ensure all adjustments are made timely. In addition, we create policy and procedures to perform an assessment for component unit determination of any new legally separate organization that is established. Name(s) of the contact person(s) responsible for corrective action: Don Bibb, Executive Director Planned completion date for corrective action plan: December 31, 2023
2020-001
Criteria It is the auditee’s responsibility to ensure that the Data Collection Form and Financial Data Schedule (FDS) are submitted timely and accurately. The due date for the data collection form is the earlier of 30 days after receipt of the audit report or nine months after the Commission’s year-end, and the due date for the FDS submission is nine months after the Commission’s yearend. Condition The Data Collection Form for the year ended December 31, 2021, was due for submission to the Federal Audit Clearing House by September 30, 2022 (nine months after the Commission yearend) and was not submitted by that date. Additionally, the FDS submission for the year ended December 31, 2021 was due for submission to HUD by the deadline of September 30, 2022 and was not submitted by that date. Questioned Costs None. Cause The Commission has not implemented the processes and controls over its finance function needed to prepare accurate and timely financial information that can be used to complete the Data Collection Form and FDS. Effect Because of the late submission of the audit reports, the reporting package and FDS was not made available to users in a timely manner. Recommendation We recommended that the Commission develop procedures to ensure that future reporting packages and FDS reports are submitted by the respective deadlines.
Data Collection Form and Financial Data Schedule (Non Compliance) Recommendation: We recommended that the Commission develop procedures to ensure that future reporting packages and FDS reports are submitted by the respective deadlines. EQ\JALHOUSIIIG OPPORTUNITY Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The Authority will review and enhance our policies and procedures over year end close, to ensure all adjustments are made timely to allow for timely audit facilitation to ensure we are meeting the DCF and FDS deadlines. Name(s) of the contact person(s) responsible for corrective action: Don Bibb, Executive Director Planned completion date for corrective action plan: December 31, 2023
Criteria Public Housing Authorities are required to enter into depository agreements with their financial institutions using the HUD-519999 or a form required by HDU in the ACC. The agreements serve as safeguards for Federal funds a provide third-party rights to HUD. Condition The Commission could not provide depositor agreements with financial institutions holding Federal funds for the Commission. Questioned Costs None. Cause The Commission does not have depositor agreements with financial institutions holding Federal funds for the Commission. Effect The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission. Recommendation The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission.
Missing Depository Agreements (Non Compliance) Recommendation: The Commission should enter into depository agreements with all financial institutions holding Federal funds for the Commission. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The Commission has had prior communications with the Bank regarding the depository agreements requirements. The Bank would not sign due to internal policies. The Commission will coordinate discussions between our HUD local field office and the Bank to discuss the requirements for obtaining a depository agreement. Name(s) of the contact person(s) responsible for corrective action: Don Bibb, Executive Director Planned completion date for corrective action plan: December 31, 2023
2020-003
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on October 25, 2023. 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 April 25, 2024, which was (847 days ago).
What is a management decision? →Finding 2020-001: Inadequate Controls over Financial Reporting (Material Weakness) Federal Agency: U.S. Department of Housing and Urban Development Federal Program Title: Housing Choice Voucher Cluster Federal Assistance Listing Number: 14.871 Compliance Requirement: Reporting Criteria: The Commission should maintain appropriate controls over the financial reporting process to prevent or detect material misstatements. Condition: The Commission did not have adequate controls over the financial reporting process and, as a result, material restatement adjustments related to the prior year were required. Context: The Commission identified prior-period errors in financial reporting during the audit process for the year ended December 31, 2020. The prior period errors resulted in the restatement of the opening balances in the financial statements for the year ended December 31, 2020, and therefore, inaccurate reporting to the financial statement users. Effect: The Authority recorded adjustments for the corrections of errors related to removal of a loan of $100,000, the placement in service of two development projects totaling $379,086 and the related recording of accumulated depreciation of $22,422, and the inclusion of a discretely presented component unit previously omitted from financial reporting. These adjustments resulted in an increase to beginning net position of $77,578 and the presentation of the discretely presented component unit's opening net position of $(340,064). Cause: The Commission did not have the appropriate controls over the financial reporting process to prevent or detect material misstatements. Repeat Finding: This is a repeat of Finding 2019-001. Questioned Costs: None. Auditor's Recommendation: The Commission should review and enhance its internal controls, policies and procedures to ensure that year-end adjustments and reconciliations are performed in a timely and accurate manner. Views of Responsible Officials: The Commission will review and enhance our policies and procedures over year end close, to ensure all adjustments are made timely. In addition, we create policy and procedures to perform an assessment for component unit determination of any new legally separate organization that is established.
Views of Responsible Officials: The Commission will review and enhance our policies and procedures over year end close, to ensure all adjustments are made timely. In addition, we create policy and procedures to perform an assessment for component unit determination of any new legally separate organization that is established.
2019-001
Finding 2020-002: Collateralization of Deposits (Significant Deficiency) Federal Agency: U.S. Department of Housing and Urban Development Federal Program Title: Housing Choice Voucher Cluster Federal Assistance Listing Number: 14.871 Compliance Requirement: Activities Allowed and Unallowed Criteria: The U.S. Department of Housing and Urban Development ("HUD") requires deposits to either be covered by federal depository insurance or be collateralized with securities held by a thirdparty custodian in the Commission's name. Condition: The Commission did not secure its deposits by either covering them with federal depository insurance or collateralizing them with securities held by a third-party custodian. Context: The Commission has four financial institutions, any of which may have deposits in excess of Federal Deposit Insurance Corporation ("FDIC") coverage during a given year, and two of which did have deposits in excess of FDIC coverage at December 31, 2020. Effect: The Commission risks violating federal regulations and exposure to credit risk by not maintaining proper safeguards over federal funds. Cause: The Commission did not have the internal controls or compliance procedures in place to ensure deposits are properly collateralized or covered in accordance with HUD. Repeat Finding: This is not a repeat finding. Questioned Costs: None. Auditor's Recommendation: We recommend that the Commission review and enhance its internal controls, policies and procedures regarding collateralization or coverage of deposits. Views of Responsible Officials: The Commission will work with the Bank to establish proper collateralization of our accounts and set up sweeps if needed.
Views of Responsible Officials: The Commission will work with the Bank to establish proper collateralization of our accounts and set up sweeps if needed.
Finding 2020-003: Missing Depository Agreements (Significant Deficiency) Federal Agency: U.S. Department of Housing and Urban Development Federal Program Title: Housing Choice Voucher Cluster Federal Assistance Listing Number: 14.871 Compliance Requirement: Special Tests and Provisions Criteria: Per 24 CFR Section 982.156, housing authorities are required to enter into depository agreements with their financial institutions in the form required by the U.S. Department of Housing and Urban Development ("HUD"). Condition: The Housing Commission of Talbot (the "Commission") did not set up depository agreements with its financial institutions. Context: The Commission has financial institutions that require depository agreements. Effect: The Commission risks violating federal regulations, not maintaining proper safeguards over federal funds, and not providing third-party rights to HUD. Cause: The Commission did not have the internal controls over compliance or compliance procedures in place to set up a depository agreement with their financial institutions. Repeat Finding: This is not a repeat finding. Questioned Costs: None. Auditor's Recommendation: We recommend that the Commission review and enhance its internal controls over compliance, policies and procedures regarding depository agreements with its financial institutions and obtain depository agreements with all of its financial institutions. Views of Responsible Officials: The Commission has had prior communications with the Bank regarding the depository agreements requirements. The Bank would not sign due to internal policies. The Commission will coordinate discussions between our HUD local field office and the Bank to discuss the requirements for obtaining a depository agreement.
Views of Responsible Officials: The Commission has had prior communications with the Bank regarding the depository agreements requirements. The Bank would not sign due to internal policies. The Commission will coordinate discussions between our HUD local field office and the Bank to discuss the requirements for obtaining a depository agreement.
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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