EIN: 262413958
UEI: UK3HLKB7GJJ5
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 April 16, 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 October 16, 2026 (36 days from today).
What is a management decision? →FAC accepted this audit on April 14, 2025 — management decision was due October 14, 2025.
FAC accepted this audit on May 21, 2024 — management decision was due November 21, 2024.
HUD APPROVAL WAS NOT GRANTED FOR DISBURSEMENTS FROM THE RESIDUAL RECEIPTS ACCOUNT.
Show full finding ▾Hide full finding ▴HUD APPROVAL WAS NOT GRANTED FOR DISBURSEMENTS FROM THE RESIDUAL RECEIPTS ACCOUNT.
MANAGEMENT AGREES WITH THE FINDING. MANAGEMENT HAS SUBMITTED THE FORMS FOR HUD'S RETROACTIVE APPROVAL.
FAC accepted this audit on June 11, 2023 — management decision was due December 11, 2023.
Required balance in the replacement reserve is deficient in the amount of $45,897. Cause: Procedures in place to ensure that loan repayments 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 $45,897. Management will ensure that the replacement reserve loan repayments are made on a timely basis in the future. Context: Required deposits to the replacement reserve are deficient in the amount of $45,897. Recommendation: Management should repay replacement reserve loans when subsidy is received for which the loan was made. 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 $45,897. Management will ensure that the replacement reserve loan repayments are made on a timely basis in the future. Response Indicator: Agree Completion Date: March 3, 2023 Response: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $45,897. Management will ensure that the replacement reserve loan repayments are made on a timely basis in the future.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2022-001 Type of Finding: FA Finding Resolution Status: Unresolved 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: Approved releases from replacement reserve were loans to be repaid upon receipt of subsidy from HUD. Statement of Condition: Required balance in the replacement reserve is deficient in the amount of $45,897. Cause: Procedures in place to ensure that loan repayments 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 $45,897. Management will ensure that the replacement reserve loan repayments are made on a timely basis in the future. Context: Required deposits to the replacement reserve are deficient in the amount of $45,897. Recommendation: Management should repay replacement reserve loans when subsidy is received for which the loan was made. 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 $45,897. Management will ensure that the replacement reserve loan repayments are made on a timely basis in the future. Response Indicator: Agree Completion Date: March 3, 2023 Response: Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $45,897. Management will ensure that the replacement reserve loan repayments are made on a timely basis in the future.
Finding Reference Number: 2022-001 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 $45,897. Management will ensure that the replacement reserve loan repayments are made on a timely basis in the future. Completion Date: March 3, 2023
The security deposit account is not fully funded. Cause: Procedures in place to ensure that tenant security deposits are fully funded were not followed. Effect or Potential Effect: The security deposits account does not have sufficient funds to make refunds to all tenants. Auditor Non-Compliance Code: M 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 security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future. Context: The security deposit account is not fully funded. Recommendation: Management should compare the reconciled cash account to the security deposit listing to ensure that there is enough cash to refund all tenant deposits. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future. Response Indicator: Agree Completion Date: March 3, 2023 Response: Management agrees with the finding. The security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2022-002 Type of Finding: FA Finding Resolution Status: Unresolved 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 that the balance in the security deposit account cannot be less than the security deposit obligation. Statement of Condition: The security deposit account is not fully funded. Cause: Procedures in place to ensure that tenant security deposits are fully funded were not followed. Effect or Potential Effect: The security deposits account does not have sufficient funds to make refunds to all tenants. Auditor Non-Compliance Code: M 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 security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future. Context: The security deposit account is not fully funded. Recommendation: Management should compare the reconciled cash account to the security deposit listing to ensure that there is enough cash to refund all tenant deposits. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future. Response Indicator: Agree Completion Date: March 3, 2023 Response: Management agrees with the finding. The security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future.
Finding Reference Number: 2022-002 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 security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future. Completion Date: March 3, 2023
FAC accepted this audit on April 28, 2022 — management decision was due October 28, 2022.
FAC accepted this audit on March 29, 2021 — management decision was due September 29, 2021.
FAC accepted this audit on April 1, 2020 — management decision was due October 1, 2020.
Required monthly deposits to the replacement reserve are deficient in the amount of $2,300. 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 was funded on March 17, 2020 in the amount of $2,300. 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 $2,300. 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 was funded on March 17, 2020 in the amount of $2,300. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: March 6, 2020 Response: Management agrees with the finding. The replacement reserve deficiency was funded on March 17, 2020 in the amount of $2,300. 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: 2019-001 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 $2,300. Statement of Condition: Required monthly deposits to the replacement reserve are deficient in the amount of $2,300. 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 was funded on March 17, 2020 in the amount of $2,300. 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 $2,300. 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 was funded on March 17, 2020 in the amount of $2,300. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: March 6, 2020 Response: Management agrees with the finding. The replacement reserve deficiency was funded on March 17, 2020 in the amount of $2,300. Management will ensure that the replacement reserve deposits are made on a timely basis 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 replacement reserve deficiency was funded on March 17, 2020 in the amount of $2,300. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Completion Date: March 6, 2020
FAC accepted this audit on March 20, 2019 — management decision was due September 20, 2019.
FAC accepted this audit on March 28, 2018 — management decision was due September 28, 2018.
FAC accepted this audit on April 16, 2017 — management decision was due October 16, 2017.
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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