EIN: 251705428
UEI: DNE1MJNLM357
Audited by: Affordable Housing Accountants
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on May 18, 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 November 18, 2026 (76 days from today).
What is a management decision? →FAC accepted this audit on May 7, 2025 — management decision was due November 7, 2025.
FAC accepted this audit on May 15, 2024 — management decision was due November 15, 2024.
The RFR account is deficient $166,464 in deposits for the year ending December 31, 2023. Criteria: HUD regulations and the HUD regulatory agreement require the Project to make 12 monthly deposits to the RFR account unless a waiver of deposits is approved by HUD. Cause: The Project experienced significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Effect or Potential Effect: The RFR account is deficient in deposits as of December 31, 2023. Recommendation: The Project should make the required deposits as soon as operating cash is sufficient to do so. Reporting Views of Responsible Officials: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make all RFR deposits. Those charged with governance agree with the finding and have requested a waiver of the RFR deposits from HUD that would apply retroactively to the delinquent deposits for prior years. Management has improved the cash flow of the project and was able to start making monthly deposits to the RFR during 2020 and plans to keep up with the monthly deposits as agreed to with the HUD project asset manager. Additionally, the Project currently maintains a balance of approximately $3,200 per unit, which is in excess of the HUD requirement of $1,000 per unit.
Show full finding ▾Hide full finding ▴Finding 2023-001 Section 202 Capital Advance Loan CFDA No. 14.157 Questioned Costs: $166,464 Information on Universe and Population Size: N/A Sample Size Information: N/A Noncompliance Information: The project did not make all of the required deposits to the reserve for replacements (“RFR”) account during the years ended December 31, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, and 2012. Condition: The RFR account is deficient $166,464 in deposits for the year ending December 31, 2023. Criteria: HUD regulations and the HUD regulatory agreement require the Project to make 12 monthly deposits to the RFR account unless a waiver of deposits is approved by HUD. Cause: The Project experienced significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Effect or Potential Effect: The RFR account is deficient in deposits as of December 31, 2023. Recommendation: The Project should make the required deposits as soon as operating cash is sufficient to do so. Reporting Views of Responsible Officials: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make all RFR deposits. Those charged with governance agree with the finding and have requested a waiver of the RFR deposits from HUD that would apply retroactively to the delinquent deposits for prior years. Management has improved the cash flow of the project and was able to start making monthly deposits to the RFR during 2020 and plans to keep up with the monthly deposits as agreed to with the HUD project asset manager. Additionally, the Project currently maintains a balance of approximately $3,200 per unit, which is in excess of the HUD requirement of $1,000 per unit.
Those charged with governance have requested a waiver of deposits to the reserve for replacements account from HUD that would apply retroactively to the outstanding deposits for prior years. The Project has made the required monthly deposits for the year ending December 31, 2023.
2022-001
FAC accepted this audit on April 26, 2023 — management decision was due October 26, 2023.
The RFR account is deficient $166,464 in deposits for the years ending December 31, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, and 2012. Criteria: HUD regulations and the HUD regulatory agreement require the Project to make 12 monthly deposits to the RFR account unless a waiver of deposits is approved by HUD. Cause: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Effect or Potential Effect: The RFR account is deficient in deposits as of December 31, 2022. Recommendation: The Project should make the required deposits as soon as operating cash is sufficient to do so. Reporting Views of Responsible Officials: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make all RFR deposits. Those charged with governance agree with the finding and have requested a waiver of the RFR deposits from HUD that would apply retroactively to the delinquent deposits for prior years. Management has improved the cash flow of the project and was able to start making monthly deposits to the RFR during 2020 and plans to keep up with the monthly deposits as agreed to with the HUD project asset manager.
Show full finding ▾Hide full finding ▴Finding 2022-001; Section 202 Capital Advance Loan; CFDA No. 14.157 Questioned Costs: $166,464 Information on Universe and Population Size: N/A Sample Size Information: N/A Noncompliance Information: The project did not make all of the required deposits to the reserve for replacements (?RFR?) account during the years ended December 31, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, and 2012. Condition: The RFR account is deficient $166,464 in deposits for the years ending December 31, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, and 2012. Criteria: HUD regulations and the HUD regulatory agreement require the Project to make 12 monthly deposits to the RFR account unless a waiver of deposits is approved by HUD. Cause: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Effect or Potential Effect: The RFR account is deficient in deposits as of December 31, 2022. Recommendation: The Project should make the required deposits as soon as operating cash is sufficient to do so. Reporting Views of Responsible Officials: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make all RFR deposits. Those charged with governance agree with the finding and have requested a waiver of the RFR deposits from HUD that would apply retroactively to the delinquent deposits for prior years. Management has improved the cash flow of the project and was able to start making monthly deposits to the RFR during 2020 and plans to keep up with the monthly deposits as agreed to with the HUD project asset manager.
A. Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations. 1. Finding 2022-001 a. Comments on the Finding and Each Recommendation Those charged with governance agree with the finding and recommendation. b. Action Taken or Planned on the Finding Those charged with governance have requested a waiver of deposits to the reserve for replacements account from HUD that would apply retroactively to the outstanding deposits for prior years. The Project has made the required monthly deposits for the year ending December 31, 2022.
2021-001
FAC accepted this audit on May 2, 2022 — management decision was due November 2, 2022.
The RFR account is deficient $166,464 in deposits for the years ending December 31, 2020, 2019, 2018, 2017, 2016, 2015, 2014,2013, and 2012. Criteria: BUD regulations and the HUD regulatory agreement require the Project to make 12 monthly deposits to the RFR account unless a waiver of deposits is approved by HUD. Cause: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Effect or Potential Effect: The RFR account is deficient in deposits as of December 31, 2021. Recommendation: The Project should make the required deposits as soon as operating cash is sufficient to do so. Reporting Views of Responsible Officials: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make all RFR deposits. Those charged with governance agree with the finding and have requested a waiver of the RFR deposits from FIUD that would apply retroactively to the delinquent deposits for prior years. Management has improved the cash flow of the project and was able to start making monthly deposits to the RFR during 2020 and plans to keep up with the monthly deposits in the amount of $935 as agreed to with the HUD project asset manager. II
Show full finding ▾Hide full finding ▴1. Corrective Action Not Started or in Pro2ress Findin2 2021-001; Section 202 Capital Advance Loan; CFDA No. 14.157 Ouestioned Costs: $166,464 Information on Universe and Population Size: N/A Sample Size Information: N/A Noncompliance Information: The project did not make all of the required deposits to the reserve for replacements ("RFR") account during the years ended December 31, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, and 2012. Condition: The RFR account is deficient $166,464 in deposits for the years ending December 31, 2020, 2019, 2018, 2017, 2016, 2015, 2014,2013, and 2012. Criteria: BUD regulations and the HUD regulatory agreement require the Project to make 12 monthly deposits to the RFR account unless a waiver of deposits is approved by HUD. Cause: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Effect or Potential Effect: The RFR account is deficient in deposits as of December 31, 2021. Recommendation: The Project should make the required deposits as soon as operating cash is sufficient to do so. Reporting Views of Responsible Officials: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make all RFR deposits. Those charged with governance agree with the finding and have requested a waiver of the RFR deposits from FIUD that would apply retroactively to the delinquent deposits for prior years. Management has improved the cash flow of the project and was able to start making monthly deposits to the RFR during 2020 and plans to keep up with the monthly deposits in the amount of $935 as agreed to with the HUD project asset manager. II
A. Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations. 1. Finding 2021-001 a. Comments on the Finding and Each Recommendation Those charged with governance agree with the finding and recommendation. b. Action Taken or Planned on the Finding Those charged with governance have requested a waiver of deposits to the reserve for replacements account from HUD that would apply retroactively to the outstanding deposits for prior years and also the monthly deposits not made for the year ending December 31, 2021.
2020-001
FAC accepted this audit on April 14, 2021 — management decision was due October 14, 2021.
The RFR account is deficient $7,456 in deposits for the year ending December 31, 2020. The RFR account is also deficient $159,008 in deposits for the years ending December 31, 2019, 2018, 2017, 2016, 2015, 2014, 2013, and 2012. Criteria: HUD regulations and the HUD regulatory agreement require the Project to make 12 monthly deposits to the RFR account unless a waiver of deposits is approved by HUD. Cause: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Effect or Potential Effect: The project did not make all 12 of the required monthly deposits to the RFR account during the year ended December 31, 2020 and the RFR account is deficient in deposits as of December 31, 2020. Recommendation: The Project should make the required deposits as soon as operating cash is sufficient to do so. Reporting Views of Responsible Officials: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make all RFR deposits. Those charged with governance agree with the finding and have requested a waiver of the RFR deposits from HUD that would apply retroactively to the delinquent deposits for prior years. Management has improved the cash flow of the project and was able to start making monthly deposits to the RFR during 2020 and plans to keep up with the monthly deposits in the amount of $935 as agreed to with the HUD project asset manager.
Show full finding ▾Hide full finding ▴Finding 2020-001; Section 202 Capital Advance Loan; CFDA No. 14.157 Questioned Costs: $166,464 Information on Universe and Population Size: N/A Sample Size Information: N/A Noncompliance Information: The project did not make all of the required deposits to the reserve for replacements (?RFR?) account during the year ended December 31, 2020. The Project was able to make 8 of the 12 required deposits in the monthly amount of $935 as agreed to with the HUD project asset manager. Condition: The RFR account is deficient $7,456 in deposits for the year ending December 31, 2020. The RFR account is also deficient $159,008 in deposits for the years ending December 31, 2019, 2018, 2017, 2016, 2015, 2014, 2013, and 2012. Criteria: HUD regulations and the HUD regulatory agreement require the Project to make 12 monthly deposits to the RFR account unless a waiver of deposits is approved by HUD. Cause: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Effect or Potential Effect: The project did not make all 12 of the required monthly deposits to the RFR account during the year ended December 31, 2020 and the RFR account is deficient in deposits as of December 31, 2020. Recommendation: The Project should make the required deposits as soon as operating cash is sufficient to do so. Reporting Views of Responsible Officials: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make all RFR deposits. Those charged with governance agree with the finding and have requested a waiver of the RFR deposits from HUD that would apply retroactively to the delinquent deposits for prior years. Management has improved the cash flow of the project and was able to start making monthly deposits to the RFR during 2020 and plans to keep up with the monthly deposits in the amount of $935 as agreed to with the HUD project asset manager.
1. Finding 2020-001 a. Comments on the Finding and Each Recommendation Those charged with governance agree with the finding and recommendation. b. Action Taken or Planned on the Finding Those charged with governance have requested a waiver of deposits to the reserve for replacements account from HUD that would apply retroactively to the outstanding deposits for prior years and also the 4 monthly deposits not made for the year ending December 31, 2020.
2019-001
FAC accepted this audit on May 3, 2020 — management decision was due November 3, 2020.
The RFR account is deficient $22,368 in deposits for the year ending December 31, 2019. The RFR account is also deficient $22,368, $22,368, $22,368, $22,368, $22,368, and $2,432 in deposits for the years ending December 31, 2018, 2017, 2016, 2015, 2014, 2013, and 2012, respectively. Criteria: HUD regulations and the HUD regulatory agreement require the Project to make monthly deposits to the RFR account unless a waiver of deposits is approved by HUD. Cause: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Effect or Potential Effect: The project did not make the required deposits to RFR account during the year ended December 31, 2019 and the RFR account is deficient $159,008 in deposits as of December 31, 2019. Recommendation: The Project should make the required deposits as soon as operating cash is sufficient to do so. Reporting Views of Responsible Officials: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Management will make the deposits as soon as the operating cash is available to do so. Those charged with governance agree with the finding and have requested a waiver of the RFR deposits from HUD that would apply retroactively to 2019, 2018, 2017, 2016, 2015, 2014, 2013 and 2012.
Show full finding ▾Hide full finding ▴Finding 2019-001; Section 202 Capital Advance Loan; CFDA No. 14.157 Questioned Costs: $159,008 Information on Universe and Population Size: N/A Sample Size Information: N/A Noncompliance Information: The project did not make the required deposits to the reserve for replacements (?RFR?) account during the year ended December 31, 2019. Condition: The RFR account is deficient $22,368 in deposits for the year ending December 31, 2019. The RFR account is also deficient $22,368, $22,368, $22,368, $22,368, $22,368, and $2,432 in deposits for the years ending December 31, 2018, 2017, 2016, 2015, 2014, 2013, and 2012, respectively. Criteria: HUD regulations and the HUD regulatory agreement require the Project to make monthly deposits to the RFR account unless a waiver of deposits is approved by HUD. Cause: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Effect or Potential Effect: The project did not make the required deposits to RFR account during the year ended December 31, 2019 and the RFR account is deficient $159,008 in deposits as of December 31, 2019. Recommendation: The Project should make the required deposits as soon as operating cash is sufficient to do so. Reporting Views of Responsible Officials: The Project is experiencing significant vacancies which have resulted in a shortfall of operating cash available to make the RFR deposits. Management will make the deposits as soon as the operating cash is available to do so. Those charged with governance agree with the finding and have requested a waiver of the RFR deposits from HUD that would apply retroactively to 2019, 2018, 2017, 2016, 2015, 2014, 2013 and 2012.
1. Finding 2019-001 a. Comments on the Finding and Each Recommendation Those charged with governance agree with the finding and recommendation. b. Action Taken or Planned on the Finding Those charged with governance have requested a waiver of deposits to the reserve for replacements account from HUD that would apply retroactively to the outstanding deposits for 2019, 2018, 2017, 2016, 2015, 2014, 2013 and 2012.
2018-001
FAC accepted this audit on April 28, 2019 — management decision was due October 28, 2019.
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2017-001
FAC accepted this audit on April 10, 2018 — management decision was due October 10, 2018.
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2016-001
FAC accepted this audit on April 20, 2017 — management decision was due October 20, 2017.
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2015-001
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