EIN: 311070790
UEI: JW9CQUJD6XJ5
Audited by: PLANTE & MORAN, PLLC
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 December 15, 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 June 15, 2026 (84 days ago).
What is a management decision? →FAC accepted this audit on December 12, 2024 — management decision was due June 12, 2025.
FAC accepted this audit on May 2, 2024 — management decision was due November 2, 2024.
FAC accepted this audit on December 21, 2022 — management decision was due June 21, 2023.
Finding Type - Immaterial noncompliance with major program requirements Title and CFDA Number of Federal Program - 14.155 Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects (Section 223(f)) Finding Resolution Status - Resolved Information on Universe and Population Size -The corporation had 5 move outs during the fiscal year. Sample Size Information -A sample size of 2 move outs were tested for the year ended August 31, 2022. Identification of Repeat Finding and Finding Reference Number - N/A Criteria - HUD requires the Corporation to refund the security deposit to tenants within 30 days of the move out. Statement of Condition - The Corporation failed to refund the security deposit to a tenant within 30 days of their move out date. Cause - The Corporation failed to monitor the deposit refund requirements for the security deposits as specified by the regulatory agreement. Effect or Potential Effect - The tenant did not receive their security deposit refund until 46 days after their move out. Auditor Noncompliance Code - M - Security Deposits Recommendation -All security deposit refunds should be made within 30 days of the tenant move-out. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations -Management acknowledged the errors that occurred during the year ended August 31, 2022 and has taken measures to change their process of issuing refunds to reduce the likelihood of late refunds. Response Indicator - Agree Completion Date - December 14, 2021 Response - The security deposit has been refunded and management is currently reviewing internal controls over security deposit refunds to ensure all deposits are refunded timely.
Show full finding ▾Hide full finding ▴Finding Type - Immaterial noncompliance with major program requirements Title and CFDA Number of Federal Program - 14.155 Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects (Section 223(f)) Finding Resolution Status - Resolved Information on Universe and Population Size -The corporation had 5 move outs during the fiscal year. Sample Size Information -A sample size of 2 move outs were tested for the year ended August 31, 2022. Identification of Repeat Finding and Finding Reference Number - N/A Criteria - HUD requires the Corporation to refund the security deposit to tenants within 30 days of the move out. Statement of Condition - The Corporation failed to refund the security deposit to a tenant within 30 days of their move out date. Cause - The Corporation failed to monitor the deposit refund requirements for the security deposits as specified by the regulatory agreement. Effect or Potential Effect - The tenant did not receive their security deposit refund until 46 days after their move out. Auditor Noncompliance Code - M - Security Deposits Recommendation -All security deposit refunds should be made within 30 days of the tenant move-out. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations -Management acknowledged the errors that occurred during the year ended August 31, 2022 and has taken measures to change their process of issuing refunds to reduce the likelihood of late refunds. Response Indicator - Agree Completion Date - December 14, 2021 Response - The security deposit has been refunded and management is currently reviewing internal controls over security deposit refunds to ensure all deposits are refunded timely.
Finding Number: 2022-001 Condition: HUD requires the Corporation to refund the security deposit to tenants within 30 days of the move out. The Corporation failed to monitor the deposit refund requirements for the security deposits as specified by the regulatory agreement and failed to return security deposits withing 30 days. Planned Corrective Action: Management acknowledged the errors that occurred during the year ended August 31, 2022 and has taken measures to change their process of issuing refunds to reduce the likelihood of late refunds. Contact person responsible for corrective action: Jill Kolb, Vice President ? Housing Accounting Completion Date: December 14, 2021
FAC accepted this audit on November 23, 2021 — management decision was due May 23, 2022.
FAC accepted this audit on October 26, 2020 — management decision was due April 26, 2021.
FAC accepted this audit on November 3, 2019 — management decision was due May 3, 2020.
FAC accepted this audit on November 14, 2018 — management decision was due May 14, 2019.
FAC accepted this audit on December 5, 2017 — management decision was due June 5, 2018.
FAC accepted this audit on November 27, 2016 — management decision was due May 27, 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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