Foresight Affordable Housing-Pennsville, Inc.

EIN: 222262967

UEI: DLM6PBQXCSB1

Data as of August 21, 2026

Foresight Affordable Housing-Pennsville, Inc.10 audit years2 findings
10
Audit Years
2
Total Findings
0
Repeat Findings

FY 2024-12-31

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on April 23, 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 October 23, 2025 (303 days ago).

What is a management decision? →
2024-001
Cash Management
QUESTIONED COSTS

Finding reference number: 2024-001 Assistance Listing (Federal award identification number and year): Section 8 Housing Assistance Payments Program; Assistance Listing No. 14.195, for the year ended December 31, 2024. Auditor non-compliance code: B – Failure to make required residual receipt deposit Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding Sample size information: The sample size information is not applicable to the finding Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $35,932 Statement of condition 2024-001: The required residual receipts deposit in the amount of $35,932 per the December 31, 2023 Computation of Surplus Cash, Distributions and Residual Receipts was not deposited into a residual receipts fund within 90 days after the fiscal year end. Criteria: Pursuant to the Regulatory Agreement, surplus cash must be deposited into the residual receipts fund within 90 days of the prior year-end. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement. Cause: This was an oversight by Management. Recommendation: Management should make all required residual receipts deposits per the annual Computation of Surplus Cash, Distributions and Residual Receipts within 90 days after the fiscal year end. Management's response: Agree. Management deposited $35,932 into the residual receipts fund on June 12, 2024.

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Full finding narrative

Finding reference number: 2024-001 Assistance Listing (Federal award identification number and year): Section 8 Housing Assistance Payments Program; Assistance Listing No. 14.195, for the year ended December 31, 2024. Auditor non-compliance code: B – Failure to make required residual receipt deposit Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding Sample size information: The sample size information is not applicable to the finding Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $35,932 Statement of condition 2024-001: The required residual receipts deposit in the amount of $35,932 per the December 31, 2023 Computation of Surplus Cash, Distributions and Residual Receipts was not deposited into a residual receipts fund within 90 days after the fiscal year end. Criteria: Pursuant to the Regulatory Agreement, surplus cash must be deposited into the residual receipts fund within 90 days of the prior year-end. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement. Cause: This was an oversight by Management. Recommendation: Management should make all required residual receipts deposits per the annual Computation of Surplus Cash, Distributions and Residual Receipts within 90 days after the fiscal year end. Management's response: Agree. Management deposited $35,932 into the residual receipts fund on June 12, 2024.

Corrective Action Plan

Finding 2024-001: Comments on the Finding and Each Recommendation: The Corporation did not make the required deposit to the residual receipts fund within 90 days after the fiscal year end. Action(s) taken or planned on the finding: Management agrees with the with the recommendation and made the deposit into the residual receipts fund. No further action is required.

About Cash Management →
2024-002
Reporting

Finding reference number: 2024-002 Assistance Listing (Federal award identification number and year): Section 8 Housing Assistance Payments Program; Assistance Listing No. 14.195, for the year ended December 31, 2024. Auditor non-compliance code: Z - other Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding Sample size information: The sample size information is not applicable to the finding Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Statement of condition 2024-002: For the year ended December 31, 2023, the Corporation did not submit Data Collection Form to FAC within the required time period. Criteria: Pursuant to the Regulatory Agreement, the Corporation is required to electronically submit Data Collection Form to FAC in accordance with HUD guidance. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement. Cause: This was an oversight by Management. Recommendation: The Corporation should submit Data Collection Form to FAC within the time period required. Management's response: Management agrees with the recommendation and submitted the Data Collection Form to FAC. No further action is required.

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Full finding narrative

Finding reference number: 2024-002 Assistance Listing (Federal award identification number and year): Section 8 Housing Assistance Payments Program; Assistance Listing No. 14.195, for the year ended December 31, 2024. Auditor non-compliance code: Z - other Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding Sample size information: The sample size information is not applicable to the finding Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Statement of condition 2024-002: For the year ended December 31, 2023, the Corporation did not submit Data Collection Form to FAC within the required time period. Criteria: Pursuant to the Regulatory Agreement, the Corporation is required to electronically submit Data Collection Form to FAC in accordance with HUD guidance. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement. Cause: This was an oversight by Management. Recommendation: The Corporation should submit Data Collection Form to FAC within the time period required. Management's response: Management agrees with the recommendation and submitted the Data Collection Form to FAC. No further action is required.

Corrective Action Plan

Finding 2024-002: Comments on the Finding and Each Recommendation: For the year ended December 31, 2023, the Corporation did not submit the Data Collection Form to FAC within the required time period. Action(s) taken or planned on the finding: Management agrees with the recommendation and submitted the Data Collection Form to FAC. No further action is required.

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