EIN: 300417471
UEI: JK8KKNNJD4U4
Data as of August 22, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on August 25, 2025. 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 February 25, 2026 (178 days ago).
What is a management decision? →The fiscal year December 31, 2023 residual receipts deposit was not made into the residual receipts account. Criteria: Following the expiration of the fiscal year, a deposit shall be made in an amount equal to the annual computation of surplus cash within 60 days following the end of the fiscal year (24 CFR section 891.600(e)). Therefore, the fiscal year end December 31, 2023 deposit should be made by February 29, 2024. Cause/Effect: Management did not deposit the residual receipts within the 60 day due date. As a result, MDBM – Epsilon Senior Housing Corporation is not in compliance with the Regulatory Agreement. Questioned Cost: Undetermined Recommendation: Every effort should be made to comply with the residual receipts requirement to make deposits into the account within 60 days following the end of the fiscal year or request waivers by the due date. Views of Responsible Officials and Planned Corrective Actions: Every effort will be made to establish and implement controls to assure that deposits are made within the 60 day allotted period.
Show full finding ▾Hide full finding ▴Compliance Requirement: Special Tests and Provisions – Residual Receipts Funds Condition: The fiscal year December 31, 2023 residual receipts deposit was not made into the residual receipts account. Criteria: Following the expiration of the fiscal year, a deposit shall be made in an amount equal to the annual computation of surplus cash within 60 days following the end of the fiscal year (24 CFR section 891.600(e)). Therefore, the fiscal year end December 31, 2023 deposit should be made by February 29, 2024. Cause/Effect: Management did not deposit the residual receipts within the 60 day due date. As a result, MDBM – Epsilon Senior Housing Corporation is not in compliance with the Regulatory Agreement. Questioned Cost: Undetermined Recommendation: Every effort should be made to comply with the residual receipts requirement to make deposits into the account within 60 days following the end of the fiscal year or request waivers by the due date. Views of Responsible Officials and Planned Corrective Actions: Every effort will be made to establish and implement controls to assure that deposits are made within the 60 day allotted period.
CORRECTIVE ACTION PLAN YEAR ENDED DECEMBER 31, 2024 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT MBDM – Epsilon Senior Housing Corporation respectfully submits the following corrective action plan for the year ended December 31, 2024. Name and address of independent public accounting firm: Boisvenu & Company, P.C., 30600 Telegraph Road, Suite 1300, Bingham Farms, Michigan 48025 Audit period: January 1, 2024 through December 31, 2024 The finding from the December 31, 2024 schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. 2024-001 Compliance Requirement: Special Tests and Provisions – Residual Receipts Funds Supportive Housing for the Elderly (Section 202), Assistance Listing 14.157 Recommendation: Every effort should be made to comply with the residual receipts requirement to make deposits into the account within 60 days following the end of the fiscal year or request waivers by the due date. Planned Corrective Actions: Every effort will be made to deposit the required amount within the allotted 60 day period. If the U.S. Department of Housing and Urban Development has questions regarding this plan, please call Sridevi Nistala at (248) 626-6100. Sincerely, MBDM – Epsilon Senior Housing Corporation Elizabeth Goleski, CEO
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