EIN: 311132676
UEI: LMB5J7AP68K5
Audited by: PLANTE & MORAN, PLLC
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 December 12, 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 12, 2026 (82 days ago).
What is a management decision? →FAC accepted this audit on October 31, 2024 — management decision was due May 1, 2025.
FAC accepted this audit on March 27, 2024 — management decision was due September 27, 2024.
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 207/223(f)) Finding Resolution Status Resolved Information on Universe and Population Size The Corporation had 8 move outs during the fiscal year. Sample Size Information A sample size of 2 move outs were tested for the year ended July 31, 2023. Identification of Repeat Finding and Finding Reference Number N/A not a repeat finding. 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 one 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 One tenant did not receive their security deposit refund until 37 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 July 31, 2023 and has taken measures to change their process of issuing refunds to reduce the likelihood of late refunds. Response Indicator Agree Completion Date June 6, 2023 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 207/223(f)) Finding Resolution Status Resolved Information on Universe and Population Size The Corporation had 8 move outs during the fiscal year. Sample Size Information A sample size of 2 move outs were tested for the year ended July 31, 2023. Identification of Repeat Finding and Finding Reference Number N/A not a repeat finding. 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 one 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 One tenant did not receive their security deposit refund until 37 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 July 31, 2023 and has taken measures to change their process of issuing refunds to reduce the likelihood of late refunds. Response Indicator Agree Completion Date June 6, 2023 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.
The security deposit has been refunded and management is currently reviewing internal controls over security deposit refunds to ensure all deposits are returned timely.
FAC accepted this audit on December 18, 2022 — management decision was due June 18, 2023.
FAC accepted this audit on October 31, 2021 — management decision was due May 1, 2022.
FAC accepted this audit on September 21, 2020 — management decision was due March 21, 2021.
FAC accepted this audit on October 8, 2019 — management decision was due April 8, 2020.
FAC accepted this audit on October 8, 2018 — management decision was due April 8, 2019.
FAC accepted this audit on November 1, 2017 — management decision was due May 1, 2018.
FAC accepted this audit on October 23, 2016 — management decision was due April 23, 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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