EIN: 311290231
UEI: NQNZCM8N3UM1
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 May 11, 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 November 11, 2026 (66 days from today).
What is a management decision? →FAC accepted this audit on September 30, 2025 — management decision was due March 30, 2026.
FAC accepted this audit on May 7, 2024 — management decision was due November 7, 2024.
Finding Type: - Immaterial noncompliance with major program requirements - Significant deficiency in internal control over compliance Title and Assistance Listing Number of Federal Program - 14.155 - U.S. Department of Housing and Urban Development - Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Projects (Section 207/223(f)) Finding Resolution Status - In process Information on Universe and Population Size -All security deposit refunds made during 2023 Sample Size Information -A sample size of two security deposit refunds was determined based on the HUD audit guide. 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 the tenant's move-out date. The security deposit was refunded to the tenant on the 44th day subsequent to move-out. Cause - The Corporation’s internal controls over compliance failed to detect the security deposit that was not refunded within 30 days. Effect or Potential Effect - Additional security deposit refunds may not meet HUD's requirements. Auditor Noncompliance Code - M - Security Deposits Reporting Views of Responsible Officials - Management acknowledges noncompliance in the current fiscal year and has taken measures to improve internal controls over compliance. Context - During testing of move-outs, one instance of security deposit noncompliance was noted. Recommendation - Management should make the necessary changes to internal controls over compliance so that security deposit refunds are made within 30 days of a tenant's move-out date. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations - Management acknowledged the error that occurred during the year ended December 31, 2023 and corrected the issue by refunding the security deposit. In addition, they have taken measures to improve internal controls over compliance. Response Indicator - Agree Completion Date - December 31, 2024 Response - Management acknowledges noncompliance in the current fiscal year and has taken measures to improve internal controls over compliance. Management will monitor security deposit refunds in order to ensure refunds meet the Regulatory Agreement requirements.
Show full finding ▾Hide full finding ▴Finding Type: - Immaterial noncompliance with major program requirements - Significant deficiency in internal control over compliance Title and Assistance Listing Number of Federal Program - 14.155 - U.S. Department of Housing and Urban Development - Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Projects (Section 207/223(f)) Finding Resolution Status - In process Information on Universe and Population Size -All security deposit refunds made during 2023 Sample Size Information -A sample size of two security deposit refunds was determined based on the HUD audit guide. 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 the tenant's move-out date. The security deposit was refunded to the tenant on the 44th day subsequent to move-out. Cause - The Corporation’s internal controls over compliance failed to detect the security deposit that was not refunded within 30 days. Effect or Potential Effect - Additional security deposit refunds may not meet HUD's requirements. Auditor Noncompliance Code - M - Security Deposits Reporting Views of Responsible Officials - Management acknowledges noncompliance in the current fiscal year and has taken measures to improve internal controls over compliance. Context - During testing of move-outs, one instance of security deposit noncompliance was noted. Recommendation - Management should make the necessary changes to internal controls over compliance so that security deposit refunds are made within 30 days of a tenant's move-out date. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations - Management acknowledged the error that occurred during the year ended December 31, 2023 and corrected the issue by refunding the security deposit. In addition, they have taken measures to improve internal controls over compliance. Response Indicator - Agree Completion Date - December 31, 2024 Response - Management acknowledges noncompliance in the current fiscal year and has taken measures to improve internal controls over compliance. Management will monitor security deposit refunds in order to ensure refunds meet the Regulatory Agreement requirements.
The security deposit was refunded to the tenant on the 44th day subsequent to their move-out. Management has taken measures to improve internal controls over compliance related to tenant security deposit refunds.
FAC accepted this audit on April 17, 2023 — management decision was due October 17, 2023.
FAC accepted this audit on April 5, 2022 — management decision was due October 5, 2022.
FAC accepted this audit on March 29, 2021 — management decision was due September 29, 2021.
FAC accepted this audit on August 9, 2020 — management decision was due February 9, 2021.
FAC accepted this audit on March 31, 2019 — management decision was due October 1, 2019.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on March 20, 2018 — management decision was due September 20, 2018.
FAC accepted this audit on April 5, 2017 — management decision was due October 5, 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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