EIN: 311480074
UEI: ZN2ZY6VMLHS3
Audited by: WHARTON CPA, LLC
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 September 24, 2023. 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 March 24, 2024 (893 days ago).
What is a management decision? →Surplus cash was calculated at $9,619 at December 31, 2021. Criteria: Surplus cash is required to be deposited into the residual receipts account at the end of each fiscal year in which it is calculated. Cause: The cause is undeterminable. Effect: The property is not in compliance with HUD rules and regulations as it relates to surplus cash. Recommendation: I recommend management make all required deposits of surplus cash to the residual receipts account in compliance with HUD rules and regulations.
Show full finding ▾Hide full finding ▴2022-1 Surplus Cash Not Deposited to Residual Receipts Condition: Surplus cash was calculated at $9,619 at December 31, 2021. Criteria: Surplus cash is required to be deposited into the residual receipts account at the end of each fiscal year in which it is calculated. Cause: The cause is undeterminable. Effect: The property is not in compliance with HUD rules and regulations as it relates to surplus cash. Recommendation: I recommend management make all required deposits of surplus cash to the residual receipts account in compliance with HUD rules and regulations.
2022-1 Surplus Cash Not Deposited to Residual Receipts Condition: Surplus cash was calculated at $9,619 at December 31, 2021. Criteria: Surplus cash is required to be deposited into the residual receipts account at the end of each fiscal year in which it was calculated. Cause: The cause is undeterminable. Effect: The property is not in compliance with HUD rules and regulations as it relates to surplus cash. Recommendation: I recommend management make all required deposits of surplus cash to the residual receipts account in compliance with HUD rules and regulations. Management Response: It is our understanding that the Board of Directors will be requesting a meeting with HUD to discuss the dissolution of this item. Upon meeting with HUD it will be discharged.
The Project did not prepare a HUD 9250 to remit excess residual receipts nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Effect: Residual receipts balance is $30,133 as of December 31, 2022. The allowable balance is $7,250 ($250 X 29 units), resulting in excess residual receipts of $22,883. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD.
Show full finding ▾Hide full finding ▴2022-2 Excess Residual Receipts Condition: The Project did not prepare a HUD 9250 to remit excess residual receipts nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Effect: Residual receipts balance is $30,133 as of December 31, 2022. The allowable balance is $7,250 ($250 X 29 units), resulting in excess residual receipts of $22,883. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD.
2022-2 Excess Residual Receipts Condition: The Project did not prepare a HUD 9250 to remit excess residual receipts nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Effect: Residual receipts balance is $30,133 as of December 31, 2022. The allowable balance is $7,250 ($250 X 29 units), resulting in excess residual receipts of $22,883. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD. Management Response: The property needs to money for improvements at the property. There will be an increase in the costs of future expenses due to inflations. It is not prudent for management to return funds for a property of this age. They do have Replacement Reserve funds but those funds may not be adequate enough to cover what will be needed. We have witnessed substantial increases in Insurance. Additionally, in order to maintain staff we would be looking at increases in Health Insurance, Compensation, and Fringe Benefits. Surplus cash is based on historical costs, it does not take into consideration what may happen in the future.
2021-002
FAC accepted this audit on April 29, 2022 — management decision was due October 29, 2022.
Payroll reconciliations are not performed during the year when personnel is shared among properties. Criteria: A sufficient audit trail tracks accounting data to its source for verification. Cause: There is no documentation for allocating shared personnel among the properties. Effect: Payroll differences by property were reconciled during the audit. Recommendation: I recommend management utilize the allocation spreadsheet developed by the auditors to properly track the allocation of shared employees throughout the year.
Show full finding ▾Hide full finding ▴2021-1 Payroll Allocation Condition: Payroll reconciliations are not performed during the year when personnel is shared among properties. Criteria: A sufficient audit trail tracks accounting data to its source for verification. Cause: There is no documentation for allocating shared personnel among the properties. Effect: Payroll differences by property were reconciled during the audit. Recommendation: I recommend management utilize the allocation spreadsheet developed by the auditors to properly track the allocation of shared employees throughout the year.
Management will utilize the allocation spreadsheet developed by the auditors to properly track payroll allocation on a monthly basis.
The Project did not prepare a HUD 9250 to remit excess residual receipts nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Effect: Residual receipts balance is $30,133 as of December 31, 2021. The allowable balance is $7,250 ($250 X 29 units), resulting in excess residual receipts of $22,883. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD.
Show full finding ▾Hide full finding ▴2021-2 Excess Residual Receipts Condition: The Project did not prepare a HUD 9250 to remit excess residual receipts nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Effect: Residual receipts balance is $30,133 as of December 31, 2021. The allowable balance is $7,250 ($250 X 29 units), resulting in excess residual receipts of $22,883. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD.
Management is aware of the funds. Management has identified things to do to improve the property which will in turn improve the quality of life for the residents, because this is their home. Management is in the process of securing bids to send to HUD for approval.
FAC accepted this audit on April 29, 2021 — management decision was due October 29, 2021.
FAC accepted this audit on September 15, 2020 — management decision was due March 15, 2021.
FAC accepted this audit on March 25, 2019 — management decision was due September 25, 2019.
GSA_MIGRATION
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2017-001
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2017-002
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2017-004
FAC accepted this audit on May 29, 2018 — management decision was due November 29, 2018.
GSA_MIGRATION
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Show full finding ▾Hide full finding ▴FAC accepted this audit on April 30, 2017 — management decision was due October 30, 2017.
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