BALSAM TERRACE VOLUNTEERS OF AMERICA ELDERLY HOUSING, INC (BALSAM TERRACE)

EIN: 300137738

UEI: LTECA9TTRZ98

Data as of August 24, 2026

BALSAM TERRACE VOLUNTEERS OF AMERICA ELDERLY HOUSING, INC (BALSAM TERRACE)10 audit years5 findings
10
Audit Years
5
Total Findings
0
Repeat Findings

FY 2024-06-30

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on October 10, 2024. 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 April 10, 2025 (501 days ago).

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2024-001
Activities Allowed or Unallowed
QUESTIONED COSTS

HUD approval was not granted for disbursements from restricted accounts.

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HUD approval was not granted for disbursements from restricted accounts.

Corrective Action Plan

Management agrees with the finding. Management will reimburse the replacement reserve account for the duplicate release.

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FY 2021-06-30

FAC accepted this audit on October 27, 2021 — management decision was due April 27, 2022.

2021-001
Cash Management

The project did not remit excess Residual Receipts to HUD. Cause: Residual Receipts account balance was not monitored. Effect or Potential Effect: Residual Receipts account is in excess of the required balance. Auditor Non-Compliance Code: Z 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 excess funds were accrued to submit to HUD. Context: The project did not remit excess Residual Receipts to HUD. Recommendation: Management should monitor the Residual Receipts account balance and remit excess deposits to HUD. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The excess funds were accrued to submit to HUD. Response Indicator: Agree Completion Date: August 17, 2021 Response: Management agrees with the finding. The excess funds were accrued to submit to HUD.

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Full finding narrative

Finding Reference Number: 2021-001 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: HUD Memorandum dated October 14, 2016, ?Continuing Remission of Excess PRAC Residual Receipts?, continues the requirement that ?Any balance greater than $250 per unit in a Residual Receipts account must be remitted to HUD?s Accounting Center upon ?termination? of the PRAC?. Statement of Condition: The project did not remit excess Residual Receipts to HUD. Cause: Residual Receipts account balance was not monitored. Effect or Potential Effect: Residual Receipts account is in excess of the required balance. Auditor Non-Compliance Code: Z 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 excess funds were accrued to submit to HUD. Context: The project did not remit excess Residual Receipts to HUD. Recommendation: Management should monitor the Residual Receipts account balance and remit excess deposits to HUD. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The excess funds were accrued to submit to HUD. Response Indicator: Agree Completion Date: August 17, 2021 Response: Management agrees with the finding. The excess funds were accrued to submit to HUD.

Corrective Action Plan

Finding Reference Number: 2021-001 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 excess funds were accrued to submit to HUD. Completion Date: August 17, 2021

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FY 2019-06-30

FAC accepted this audit on October 15, 2019 — management decision was due April 15, 2020.

2019-001
Activities Allowed or Unallowed
QUESTIONED COSTS

Project funds were used to pay expenses of another project. Cause: The project accidentally paid the wrong invoice. Effect or Potential Effect: There is a receivable due from another project. Auditor Non-Compliance Code: G Questioned Costs: $1,061 Reporting Views of Responsible Officials: Management agrees with the finding. Context: Project funds were used to pay expenses of another project. Recommendation: The project should be reimbursed. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The funds were reimbursed on September 5, 2019 in the amount of $1,061. Response Indicator: Agree Completion Date: September 5, 2019 Response: Management agrees with the finding. The funds were reimbursed on September 5, 2019 in the amount of $1,061.

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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: Project funds may be used only for expenses that are reasonable and necessary to the operation of the project as provided for in the Regulatory Agreement between HUD and the project owner. Statement of Condition: Project funds were used to pay expenses of another project. Cause: The project accidentally paid the wrong invoice. Effect or Potential Effect: There is a receivable due from another project. Auditor Non-Compliance Code: G Questioned Costs: $1,061 Reporting Views of Responsible Officials: Management agrees with the finding. Context: Project funds were used to pay expenses of another project. Recommendation: The project should be reimbursed. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The funds were reimbursed on September 5, 2019 in the amount of $1,061. Response Indicator: Agree Completion Date: September 5, 2019 Response: Management agrees with the finding. The funds were reimbursed on September 5, 2019 in the amount of $1,061.

Corrective Action Plan

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 funds were reimbursed on September 5, 2019 in the amount of $1,061. Completion Date: September 5, 2019

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FY 2018-06-30

FAC accepted this audit on November 5, 2018 — management decision was due May 5, 2019.

2018-001
Reporting / Special Tests & Provisions

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

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FY 2017-06-30

FAC accepted this audit on December 4, 2017 — management decision was due June 4, 2018.

2017-001
Cash Management

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

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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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