EIN: 261565763
UEI: NKZ4P157JK93
Audited by: Aprio, LLP
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 June 2, 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 December 2, 2026 (87 days from today).
What is a management decision? →HUD replacement reserve loans were not repaid in a timely manner, and monthly replacement reserve deposits were not funded consistently. Cause: Management did not have adequate procedures in place to ensure the timely repayment of HUD replacement reserve loans and the consistent funding of replacement reserve deposits. Effect or Potential Effect: Noncompliance with HUD loan terms and replacement reserve deposit requirements. Auditor Non-Compliance Code: N - Reserve for replacement deposits Questioned Costs: $34,195 Reportable Views of Responsible Officials: Management agrees with the finding, and the loans will be repaid as soon as funds are available and management will ensure timely funding of the replacement reserve going forward. Context: n/a Recommendation: We recommend that management should review and strengthen policies and procedures related to the repayment of HUD loans and the timely funding of replacement reserve deposits. Auditors’ Summary of the Auditee’s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Status Indicator: Unresolved Completion Date: 12/31/2025 Response: Policies and procedures will be reviewed to ensure that HUD loans are repaid in accordance with the required payment terms and that replacement reserve deposits are funded consistently.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2025-02 Title and Number of Federal Program: Section 202 Capital Advance and PRAC, 14.157 Type of Finding: Federal Award Finding Finding Resolution Status: In Process Information on Universe Population Size: n/a Sample Size Information: n/a Identification of Repeat Finding and Finding Reference Number: n/a Criteria: The Corporation is responsible for establishing and maintaining policies and procedures to ensure the timely funding of replacement reserves and repayment of HUD replacement reserve loans, in accordance with HUD requirements. Statement of Condition: HUD replacement reserve loans were not repaid in a timely manner, and monthly replacement reserve deposits were not funded consistently. Cause: Management did not have adequate procedures in place to ensure the timely repayment of HUD replacement reserve loans and the consistent funding of replacement reserve deposits. Effect or Potential Effect: Noncompliance with HUD loan terms and replacement reserve deposit requirements. Auditor Non-Compliance Code: N - Reserve for replacement deposits Questioned Costs: $34,195 Reportable Views of Responsible Officials: Management agrees with the finding, and the loans will be repaid as soon as funds are available and management will ensure timely funding of the replacement reserve going forward. Context: n/a Recommendation: We recommend that management should review and strengthen policies and procedures related to the repayment of HUD loans and the timely funding of replacement reserve deposits. Auditors’ Summary of the Auditee’s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Status Indicator: Unresolved Completion Date: 12/31/2025 Response: Policies and procedures will be reviewed to ensure that HUD loans are repaid in accordance with the required payment terms and that replacement reserve deposits are funded consistently.
2. 2025-02 i. Comments on Finding: During the year ended December 31, 2025, HUD replacement reserve loans were not repaid in a timely manner, and monthly replacement reserve deposits were not funded consistently. ii. Actions Taken or Planned: In January 2026, the client received the retroactive subsidy from HUD in the amount of $114,299, which was deposited into the operating account, and subsequently made the October 2025 deposit on January 21, 2026. Responsible Person: Denise Crowder Anticipated Completion Date: 12/31/2026 Steps to Implement: Management will review and strengthen policies and procedures related to the repayment of HUD loans and the timely funding of replacement reserve deposits.
FAC accepted this audit on September 29, 2025 — management decision was due March 29, 2026.
FAC accepted this audit on July 11, 2024 — management decision was due January 11, 2025.
Management fees were overpaid during the year ended December 31, 2023. Cause: Controls were not in place to ensure management fees were calculated and paid in accordance with the agreement. Effect or Potential Effect: The project is not in compliance with HUD requirements. Auditor Non-Compliance Code: J - Unauthorized management fees Questioned Costs: $13,483 Reportable Views of Responsible Officials: Management is in agreement with the finding and will ensure amounts are repaid and controls put into place to prevent future errors. Context: n/a Recommendation: We recommend that management implement policies and procedures necessary to ensure that management fees are paid in accordance with executed agreements and amounts approved by HUD. Auditors’ Summary of the Auditee’s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2024 Response: Policies and procedures will be reviewed to ensure that management fees are paid in accordance with executed agreements as required by HUD.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2023-01 Title and Number of Federal Program: Section 202 Capital Advance and PRAC, 14.157 Type of Finding: Federal Award Finding Finding Resolution Status: In Process Information on Universe Population Size: n/a Sample Size Information: n/a Identification of Repeat Finding and Finding Reference Number: n/a Criteria: Amounts paid to management company exceed amounts dictated in agreement and approved by HUD. Statement of Condition: Management fees were overpaid during the year ended December 31, 2023. Cause: Controls were not in place to ensure management fees were calculated and paid in accordance with the agreement. Effect or Potential Effect: The project is not in compliance with HUD requirements. Auditor Non-Compliance Code: J - Unauthorized management fees Questioned Costs: $13,483 Reportable Views of Responsible Officials: Management is in agreement with the finding and will ensure amounts are repaid and controls put into place to prevent future errors. Context: n/a Recommendation: We recommend that management implement policies and procedures necessary to ensure that management fees are paid in accordance with executed agreements and amounts approved by HUD. Auditors’ Summary of the Auditee’s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2024 Response: Policies and procedures will be reviewed to ensure that management fees are paid in accordance with executed agreements as required by HUD.
Amounts paid to management company exceed amounts dictated in agreement and approved by HUD. Management fees were overpaid during the year ended December 31, 2023. Controls were not in place to ensure managemennt fees were calculated and paid in accordance with the agreement. The effect is that the project is not in compliance with HUD requirements. Policies and procedures will be reviewed to ensure management fees are paid in accordance with executed agreements as required by HUD.
FAC accepted this audit on June 12, 2023 — management decision was due December 12, 2023.
At December 31, 2022, the tenant security deposit liability exceeded the amount of tenant security deposits on hand. Cause: Controls were not in place to ensure the tenant security deposits are equal to or exceed tenant security deposit obligations. Effect or Potential Effect: The project is not in compliance with HUD requirements. Auditor Non-Compliance Code: M - Security deposits Questioned Costs: $6,279 Reportable Views of Responsible Officials: Management is in agreement with the finding and will fund the tenant security deposit cash account. Context: n/a Recommendation: We recommend that management implement policies and procedures necessary to ensure that the tenant security deposit cash is equal to or exceeds the tenant security deposit obligation. Auditors? Summary of the Auditee?s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2023 Response: Management will transfer funds to the tenant security deposit account equal to or greater than the tenant security deposit obligation. Policies and procedures will be reviewed to ensure the cash balance always equals or exceeds the obligation.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2022-01 Title and CFDA Number of Federal Program: Section 202 Capital Advance and PRAC, 14.157 Type of Finding: Federal Award Finding Finding Resolution Status: In Process Information on Universe Population Size: n/a Sample Size Information: n/a Identification of Repeat Finding and Finding Reference Number: n/a Criteria: Amounts collected for tenant security deposits should be kept in a separate interest bearing account, to the extent required by state or local law, and in an amount which shall at all times equal or exceed the aggregate of all outstanding obligations under said account. Statement of Condition: At December 31, 2022, the tenant security deposit liability exceeded the amount of tenant security deposits on hand. Cause: Controls were not in place to ensure the tenant security deposits are equal to or exceed tenant security deposit obligations. Effect or Potential Effect: The project is not in compliance with HUD requirements. Auditor Non-Compliance Code: M - Security deposits Questioned Costs: $6,279 Reportable Views of Responsible Officials: Management is in agreement with the finding and will fund the tenant security deposit cash account. Context: n/a Recommendation: We recommend that management implement policies and procedures necessary to ensure that the tenant security deposit cash is equal to or exceeds the tenant security deposit obligation. Auditors? Summary of the Auditee?s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2023 Response: Management will transfer funds to the tenant security deposit account equal to or greater than the tenant security deposit obligation. Policies and procedures will be reviewed to ensure the cash balance always equals or exceeds the obligation.
PROVIDENCE MANOR DEVELOPMENT CORPORATION, INC. FHA PROJECT NO. 061-EE159-WAH CORRECTIVE ACTION PLAN FOR THE YEAR ENDED DECEMBER 31, 2022 Name of Auditee: Providence Manor Development Corporation HUD Auditee Identification Number: 061-EE159-WAH Federal Award Program: 14.157 Supportive Housing for the Elderly Name of Audit Firm: Aprio, LLP Period covered by the audit: January 1, 2022 to December 31, 2022 Corrective Action Plan Prepared By Name: Denise Crowder Position: Vice President Asset Management, Housing Resource Center, Inc. Telephone number: 404-816-9770 A. Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations Finding 2022-001 a. At December 31, 2022, the tenant security deposit liability exceeded the amount of tenant security deposits on hand. Amounts collected for tenant security deposits should be kept in a separate interest bearing account, to the extent required by state or local law, and in an amount which shall at all times equal or exceed the aggregate of all outstanding obligations under said account. The project is not in compliance with HUD requirements. Recommendation: We recommend that management implement policies and procedures necessary to ensure that the tenant security deposit cash is equal to or exceeds the tenant security deposit obligation. b. Action(s) Taken or Planned on the Finding: Management will transfer funds to the tenant security deposit account equal to or greater than the tenant security deposit obligation. Policies and procedures will be reviewed to ensure the cash balance always equals or exceeds the obligation.
FAC accepted this audit on July 8, 2022 — management decision was due January 8, 2023.
FAC accepted this audit on September 27, 2021 — management decision was due March 27, 2022.
FAC accepted this audit on April 13, 2021 — management decision was due October 13, 2021.
FAC accepted this audit on April 14, 2021 — management decision was due October 14, 2021.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on April 15, 2021 — management decision was due October 15, 2021.
FAC accepted this audit on April 16, 2021 — management decision was due October 16, 2021.
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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