EIN: 222359486
UEI: LHLRLKVNDMU3
Audited by: Maddox & Associates, APC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 15, 2026. 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 July 15, 2026 (57 days ago).
What is a management decision? →FAC accepted this audit on October 16, 2024 — management decision was due April 16, 2025.
REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $110,592
Show full finding ▾Hide full finding ▴REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $110,592
Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $110,592. Management will ensure the replacement reserve deposits are made on a timely basis in the future.
2023-002
FAC accepted this audit on January 30, 2024 — management decision was due July 30, 2024.
Required monthly deposits to the replacement reserve are deficient in the amount of $234.
Show full finding ▾Hide full finding ▴Required monthly deposits to the replacement reserve are deficient in the amount of $234.
Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $234. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Required monthly deposits to the replacement reserve for debt service savings are deficient in the amount of $99,168.
Show full finding ▾Hide full finding ▴Required monthly deposits to the replacement reserve for debt service savings are deficient in the amount of $99,168.
Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $99,168. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
FAC accepted this audit on December 26, 2022 — management decision was due June 26, 2023.
FAC accepted this audit on October 27, 2021 — management decision was due April 27, 2022.
FAC accepted this audit on November 8, 2020 — management decision was due May 8, 2021.
Required monthly deposits to the replacement reserve are deficient in the amount of $280. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $280. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $280. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $280. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: September 17, 2020 Response: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $280. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2020-001 Type of Finding: FA Finding Resolution Status: In Process Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The regulatory agreement (as amended) requires monthly deposits of $3,156. Statement of Condition: Required monthly deposits to the replacement reserve are deficient in the amount of $280. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $280. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $280. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $280. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: September 17, 2020 Response: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $280. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Finding Reference Number: 2020-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $280. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Completion Date: September 17, 2020
Required monthly deposits to the replacement reserve for debt service savings are deficient in the amount of $42,047. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $42,047. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve for debt service savings are deficient in the amount of $42,047. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $42,047. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: September 17, 2020 Response: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $42,047. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2020-002 Type of Finding: FA Finding Resolution Status: In Process Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The loan agreement (as amended) requires monthly deposits of $9,216.01 for debt service savings. Statement of Condition: Required monthly deposits to the replacement reserve for debt service savings are deficient in the amount of $42,047. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $42,047. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve for debt service savings are deficient in the amount of $42,047. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $42,047. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: September 17, 2020 Response: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $42,047. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Finding Reference Number: 2020-002 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $42,047. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Completion Date: September 17, 2020
FAC accepted this audit on October 15, 2019 — management decision was due April 15, 2020.
Surplus cash was not deposited into the Residual Receipts account within 90 days. Cause: Procedures in place to ensure that the deposit is made were not followed. Effect or Potential Effect: The deposit was not made timely. Auditor Non-Compliance Code: B Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The residual receipts account deficiency was funded on April 23, 2019 in the amount of $5,685. Management will ensure that the residual receipts account is properly funded in the future. Context: Surplus cash was not deposited into the Residual Receipts account within 90 days. Recommendation: Management should review its surplus cash calculation at or near year end to determine whether the project is in a surplus cash position. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The residual receipts account deficiency was funded on April 23, 2019 in the amount of $5,685. Management will ensure that the residual receipts account is properly funded in the future. Response Indicator: Agree Completion Date: April 23, 2019 Response: Management agrees with the finding. The residual receipts account deficiency was funded on April 23, 2019 in the amount of $5,685. Management will ensure that the residual receipts account is properly funded in the future.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2019-001 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The regulatory agreement requires the project to deposit ?surplus cash? into a Residual Receipts account with 90 days after the end of the fiscal year. Statement of Condition: Surplus cash was not deposited into the Residual Receipts account within 90 days. Cause: Procedures in place to ensure that the deposit is made were not followed. Effect or Potential Effect: The deposit was not made timely. Auditor Non-Compliance Code: B Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The residual receipts account deficiency was funded on April 23, 2019 in the amount of $5,685. Management will ensure that the residual receipts account is properly funded in the future. Context: Surplus cash was not deposited into the Residual Receipts account within 90 days. Recommendation: Management should review its surplus cash calculation at or near year end to determine whether the project is in a surplus cash position. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The residual receipts account deficiency was funded on April 23, 2019 in the amount of $5,685. Management will ensure that the residual receipts account is properly funded in the future. Response Indicator: Agree Completion Date: April 23, 2019 Response: Management agrees with the finding. The residual receipts account deficiency was funded on April 23, 2019 in the amount of $5,685. Management will ensure that the residual receipts account is properly funded in the future.
Finding Reference Number: 2019-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The residual receipts account deficiency was funded on April 23, 2019 in the amount of $5,685. Management will ensure that the residual receipts account is properly funded in the future. Completion Date: April 23, 2019
FAC accepted this audit on November 5, 2018 — management decision was due May 5, 2019.
GSA_MIGRATION
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GSA_MIGRATION
2017-001
GSA_MIGRATION
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GSA_MIGRATION
2017-002
GSA_MIGRATION
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GSA_MIGRATION
FAC accepted this audit on November 30, 2017 — management decision was due May 30, 2018.
GSA_MIGRATION
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GSA_MIGRATION
GSA_MIGRATION
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GSA_MIGRATION
2016-001
FAC accepted this audit on December 19, 2016 — management decision was due June 19, 2017.
GSA_MIGRATION
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GSA_MIGRATION
2015-001
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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