EIN: 311009854
UEI: WEPUUFWH7KC8
Audited by: Dauby O'Connor & Zaleski, LLC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 7, 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 July 7, 2026 (57 days ago).
What is a management decision? →FAC accepted this audit on October 7, 2024 — management decision was due April 7, 2025.
FAC accepted this audit on April 3, 2024 — management decision was due October 3, 2024.
Assistance Listing (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, Assistance Listing 14.155 (073- 11337-REFI and 2007) Auditor non-compliance code: B-Failure to make required residual receipt deposit Finding resolution status: Cleared Universe population size: N/A Sample size information: N/A Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $6,157 Statement of condition 2023-001: The required deposit per the June 30, 2022 Computation of Surplus Cash, Distributions and Residual Receipts was not deposited to the residual receipts fund within 90 days after the fiscal year end. Criteria: Pursuant to Section 2(c) of the Regulatory Agreement surplus cash is required to be deposited into a separate residual receipts fund within 90 days after the fiscal year end. Effect: The Community is not in compliance with the terms of the Regulatory Agreement. Cause: Due to an oversight by the management agent, the surplus cash deposit was not made until June 6, 2023. Recommendation: Management should ensure that surplus cash is deposited to the residual receipts account within 90 days after the fiscal year end. Management's response: Agree. On June 6, 2023, the management agent transferred $6,157 from operating cash to the residual receipts account. No further action is required.
Show full finding ▾Hide full finding ▴Assistance Listing (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, Assistance Listing 14.155 (073- 11337-REFI and 2007) Auditor non-compliance code: B-Failure to make required residual receipt deposit Finding resolution status: Cleared Universe population size: N/A Sample size information: N/A Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $6,157 Statement of condition 2023-001: The required deposit per the June 30, 2022 Computation of Surplus Cash, Distributions and Residual Receipts was not deposited to the residual receipts fund within 90 days after the fiscal year end. Criteria: Pursuant to Section 2(c) of the Regulatory Agreement surplus cash is required to be deposited into a separate residual receipts fund within 90 days after the fiscal year end. Effect: The Community is not in compliance with the terms of the Regulatory Agreement. Cause: Due to an oversight by the management agent, the surplus cash deposit was not made until June 6, 2023. Recommendation: Management should ensure that surplus cash is deposited to the residual receipts account within 90 days after the fiscal year end. Management's response: Agree. On June 6, 2023, the management agent transferred $6,157 from operating cash to the residual receipts account. No further action is required.
Finding 2023-001: The required deposit per the June 30, 2022 Computation of Surplus Cash, Distributions and Residual Receipts was not deposited to the residual receipts fund within 90 days after the fiscal year end. Comments on the Finding and Each Recommendation: Management should ensure that surplus cash is deposited to the residual receipts account within 90 days after the fiscal year end. Action(s) taken or planned on the finding: On June 6, 2023, management transferred $6,157 from operating cash to the residual receipts account. No further action is required.
Assistance Listing (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, Assistance Listing 14.155 (073- 11337-REFI and 2007) Auditor non-compliance code: G - Unauthorized loans from project funds Finding resolution status: Cleared Universe population size: N/A Sample size information: N/A Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $12,960 Statement of condition 2023-002: During the year ended June 30, 2023, the Community paid for payroll expenditures on behalf of other communities managed by the Agent totaling $12,960. Criteria: Pursuant to Section 9(b) of the Regulatory Agreement, neither the Community nor its agents shall make any payments for services, supplies or materials unless such services are actually rendered for the community or such supplies or materials are delivered to the Community and are reasonably necessary for its operation. Effect: The Corporation is not in compliance with the Regulatory Agreement. The Community's operating account has been reduced by $12,960. Cause: The Community paid payroll expenditures on behalf of other communities managed by the Agent due to a payroll processing error. Recommendation: The other communities managed by the Agent should reimburse the Community in the amount of $12,960. Management's response: Agree. On September 6, 2023, the Agent has issued a credit to the Community of $12,960.
Show full finding ▾Hide full finding ▴Assistance Listing (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, Assistance Listing 14.155 (073- 11337-REFI and 2007) Auditor non-compliance code: G - Unauthorized loans from project funds Finding resolution status: Cleared Universe population size: N/A Sample size information: N/A Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $12,960 Statement of condition 2023-002: During the year ended June 30, 2023, the Community paid for payroll expenditures on behalf of other communities managed by the Agent totaling $12,960. Criteria: Pursuant to Section 9(b) of the Regulatory Agreement, neither the Community nor its agents shall make any payments for services, supplies or materials unless such services are actually rendered for the community or such supplies or materials are delivered to the Community and are reasonably necessary for its operation. Effect: The Corporation is not in compliance with the Regulatory Agreement. The Community's operating account has been reduced by $12,960. Cause: The Community paid payroll expenditures on behalf of other communities managed by the Agent due to a payroll processing error. Recommendation: The other communities managed by the Agent should reimburse the Community in the amount of $12,960. Management's response: Agree. On September 6, 2023, the Agent has issued a credit to the Community of $12,960.
Finding 2023-002: During the year ended June 30, 2023, the Community paid for payroll expenditures on behalf of other communities managed by the Agent totaling $12,960. Comments on the Finding and Each Recommendation: The other communities managed by the Agent should reimburse the Community in the amount of $12,960. Action(s) taken or planned on the finding: Agree. On September 6, 2023, the Agent has issued a credit to the Community of $12,960.
FAC accepted this audit on December 20, 2022 — management decision was due June 20, 2023.
FAC accepted this audit on September 28, 2021 — management decision was due March 28, 2022.
FAC accepted this audit on September 7, 2020 — management decision was due March 7, 2021.
FAC accepted this audit on October 1, 2019 — management decision was due April 1, 2020.
FAC accepted this audit on September 25, 2018 — management decision was due March 25, 2019.
FAC accepted this audit on September 28, 2017 — management decision was due March 28, 2018.
FAC accepted this audit on October 19, 2016 — management decision was due April 19, 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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