EIN: 222238057
UEI: ZF74QUAAWKK5
Data as of August 21, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 21, 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 September 21, 2021 (1795 days ago).
What is a management decision? →Criteria Controls over financial reporting should be in place to provide reasonable assurance that the company?s financial statements are reliable and prepared in accordance with generally accepted accounting principles. Statement of Condition Internal finance personnel from Mill Stream Court require assistance from the independent public accountant to prepare the year-end financial statements, maintain fixed asset ledgers as well as convert the internal financial records from cash to accrual for year-end reporting in accordance with generally accepted accounting principles. Cause of Condition Internal financial reporting is maintained on a cash basis with internal finance personnel from Mill Stream Court needing to record cash to accrual entries at year end to properly align with generally accepted accounting principles. While these activities have improved in 2020, Millstream Court personnel continue to require assistance from the independent public accountant to complete the entries required. Further, the lack of certain year end cash to accrual entries in the trial balance as part of year end post-closing has resulted in internal financial statements that do not reflect the same year-end financial statement balances reported externally to regulatory agencies. Effect of Condition Monthly internal as well as year-end internal financial statements do not properly reflect the financial assets and liabilities of Mill Stream Court in accordance with generally accepted accounting principles that could impact management decisions. Recommendation: We recommend that finance personnel work with the independent public accountant to understand the necessary entries recorded each year so that these entries can be recorded prior to closing their internal financial statements. Further, management should try to find someone to provide additional assistance to ensure that the financial statement reporting is in accordance with generally accepted accounting principles.
Show full finding ▾Hide full finding ▴Criteria Controls over financial reporting should be in place to provide reasonable assurance that the company?s financial statements are reliable and prepared in accordance with generally accepted accounting principles. Statement of Condition Internal finance personnel from Mill Stream Court require assistance from the independent public accountant to prepare the year-end financial statements, maintain fixed asset ledgers as well as convert the internal financial records from cash to accrual for year-end reporting in accordance with generally accepted accounting principles. Cause of Condition Internal financial reporting is maintained on a cash basis with internal finance personnel from Mill Stream Court needing to record cash to accrual entries at year end to properly align with generally accepted accounting principles. While these activities have improved in 2020, Millstream Court personnel continue to require assistance from the independent public accountant to complete the entries required. Further, the lack of certain year end cash to accrual entries in the trial balance as part of year end post-closing has resulted in internal financial statements that do not reflect the same year-end financial statement balances reported externally to regulatory agencies. Effect of Condition Monthly internal as well as year-end internal financial statements do not properly reflect the financial assets and liabilities of Mill Stream Court in accordance with generally accepted accounting principles that could impact management decisions. Recommendation: We recommend that finance personnel work with the independent public accountant to understand the necessary entries recorded each year so that these entries can be recorded prior to closing their internal financial statements. Further, management should try to find someone to provide additional assistance to ensure that the financial statement reporting is in accordance with generally accepted accounting principles.
Management of Mill Stream Court and the Board of Directors will continue efforts to enhance the accounting practices and skills of the financial personnel at Mill Stream Court. Management will also work with the independent public accountant to ensure cash to accrual entries are made in a more timely fashion.
2019-001
FAC accepted this audit on April 28, 2020 — management decision was due October 28, 2020.
Criteria Controls over financial reporting should be in place to provide reasonable assurance that the company?s financial statements are reliable and prepared in accordance with generally accepted accounting principles. Statement of Condition Internal finance personnel from the organization require assistance from the independent public accountant to prepare the year-end financial statements, maintain fixed asset ledgers as well as convert the internal financial records from cash to accrual for year-end reporting in accordance with generally accepted accounting principles. Cause of Condition Internal financial reporting has always been maintained on a cash basis and certain financial statement accounts have never been included in the general ledger (i.e. fixed assets). Further, certain year end cash to accrual entries have never been entered into the trial balance as part of year end post-closing entries which has resulted in internal financial statements that do not reflect the same year-end financial statement balances reported externally to regulatory agencies. In addition, management of the organization and the board of directors have chosen to utilize someone with a different skill level to prepare the financial statements for the organization. Effect of Condition Monthly internal as well as year-end internal financial statements do not properly reflect the financial assets and liabilities of the organization in accordance with generally accepted accounting principles that could impact management decisions.
Show full finding ▾Hide full finding ▴Criteria Controls over financial reporting should be in place to provide reasonable assurance that the company?s financial statements are reliable and prepared in accordance with generally accepted accounting principles. Statement of Condition Internal finance personnel from the organization require assistance from the independent public accountant to prepare the year-end financial statements, maintain fixed asset ledgers as well as convert the internal financial records from cash to accrual for year-end reporting in accordance with generally accepted accounting principles. Cause of Condition Internal financial reporting has always been maintained on a cash basis and certain financial statement accounts have never been included in the general ledger (i.e. fixed assets). Further, certain year end cash to accrual entries have never been entered into the trial balance as part of year end post-closing entries which has resulted in internal financial statements that do not reflect the same year-end financial statement balances reported externally to regulatory agencies. In addition, management of the organization and the board of directors have chosen to utilize someone with a different skill level to prepare the financial statements for the organization. Effect of Condition Monthly internal as well as year-end internal financial statements do not properly reflect the financial assets and liabilities of the organization in accordance with generally accepted accounting principles that could impact management decisions.
Rural Rental Housing Loans - CFDA No. 10.415 2019-001 Internal Finance Personnel Assistance Internal finance personnel from the organization require assistance from the independent public accountant to prepare the year-end financial statements, maintain fixed asset ledgers as well as convert the internal financial records from cash to accrual for year-end reporting in accordance with generally accepted accounting principles. Recommendation: We recommend that finance personnel work with the independent public accountant to understand the necessary entries recorded each year so that these entries can be recorded prior to closing their internal financial statements. Further, management should try to find someone to provide additional assistance to ensure that the financial statement reporting is in accordance with generally accepted accounting principles. Action Taken: Management will work with auditors to record cash to accrual entries. However, at this time, management and the Board of Directors feel that the additional cost to provide assistance and implement this oversight control exceeds the benefit.
2018-001
FAC accepted this audit on June 30, 2019 — management decision was due December 30, 2019.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on March 16, 2017 — management decision was due September 16, 2017.
GSA_MIGRATION
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GSA_MIGRATION
2015-001
GSA_MIGRATION
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GSA_MIGRATION
2015-002
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