Eaton Knolls Housing Development Fund Company, Inc.

EIN: 311671682

UEI: NK3BSWB218X9

Data as of August 21, 2026

Eaton Knolls Housing Development Fund Company, Inc.10 audit years1 findings
10
Audit Years
1
Total Findings
0
Repeat Findings

FY 2025-12-31

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on April 29, 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 October 29, 2026 (68 days from today).

What is a management decision? →
2025-001
Eligibility

During the review of tenant files for the year ended December 31, 2025, 4 out of 6 sampled tenant files lacked timely annual recertifications. For these sampled files, the managing agent did not complete the annual Owner’s Certification of Compliance with HUD’s Tenant Eligibility and Rent Procedures by the required anniversary date. Cause: Staff turnover contributed to the delay in completion of the annual recertifications. Effect: Failure to complete annual recertifications timely may result in incorrect tenant rent, improper subsidy payments, and potential HUD enforcement actions, including repayment of overpaid assistance. Recommendation: Management should train staff regarding annual recertification rules and implement procedures to ensure timely completion of annual recertifications. Management’s Views and Corrective Action Plan: Management agrees with the finding and will implement procedures to train staff as well as procedures to ensure timely completion of annual recertifications.

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Full finding narrative

Federal Program: Supportive Housing For Persons with Disabilities (AL #14.181) Federal Award: Section 811 Capital Advances / Project Rental Assistance Payments Federal Agency: U.S. Department of Housing and Urban Development Criteria: In accordance with HUD Handbook 4350.3 Rev-1, Chapter 7, Owners of Project Rental Assistance Contract properties must perform annual recertifications of income and family composition and adjust tenant rent accordingly. Compliance with HUD occupancy requirements is mandatory for continued subsidy payments. Condition: During the review of tenant files for the year ended December 31, 2025, 4 out of 6 sampled tenant files lacked timely annual recertifications. For these sampled files, the managing agent did not complete the annual Owner’s Certification of Compliance with HUD’s Tenant Eligibility and Rent Procedures by the required anniversary date. Cause: Staff turnover contributed to the delay in completion of the annual recertifications. Effect: Failure to complete annual recertifications timely may result in incorrect tenant rent, improper subsidy payments, and potential HUD enforcement actions, including repayment of overpaid assistance. Recommendation: Management should train staff regarding annual recertification rules and implement procedures to ensure timely completion of annual recertifications. Management’s Views and Corrective Action Plan: Management agrees with the finding and will implement procedures to train staff as well as procedures to ensure timely completion of annual recertifications.

Corrective Action Plan

Corrective Action: The annual recertifications were not completed on time due to difficulty obtaining the required tenant information. Stanan will start the process earlier in the year and make a better attempt at collecting the documentation needed. Stanan's occupancy specialist and supervisor will more closely monitor the timing and progress of all tenant annual recertifications to avoid untimely filings in the future. Stanan will notify the management of Eaton Knolls if they cannot collect the information from the tenants in advance of the filing due date. Eaton Knolls management will go on site to collect this information if need be. Anticipated completion date: The implementation of training and procedures is expected to be completed in 2026.

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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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Eaton Knolls Housing Development Fund Company, Inc. - Single Audit | Single Audit Intelligence