EIN: 311693980
UEI: JF7LW4NLN1L8
Audited by: Whittlesey PC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 29, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 22, 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 October 22, 2025 (311 days ago).
What is a management decision? →FAC accepted this audit on July 7, 2022 — management decision was due January 7, 2023.
FAC accepted this audit on April 12, 2021 — management decision was due October 12, 2021.
FAC accepted this audit on April 8, 2020 — management decision was due October 8, 2020.
The Project did not comply with the requirements as two disbursements totaling $66,088 were made out of the residual receipts reserve without prior approval from HUD.Cause:The noncompliance was a result of lack of internal control over disbursements made from the residual receipts reserve.Effect:Lack of prior approval from HUD to withdraw funds could result in resources being used for unauthorized purposes.Questioned Cost:$66,088Context:There were two disbursements made from the residual receipts reserve account, in each case there was no prior approval from HUD.Repeat Finding:NoRecommendation:We recommend management establish appropriate controls to prevent disbursements made from the residual receipts reserve without HUD approval.View of Responsible Officials:Management agrees with this finding. Please refer to the corrective action plan.
Show full finding ▾Hide full finding ▴FINDING NO. 2019-001Significant DeficiencyGrantor:United States Department of Housing and Urban DevelopmentFederal Program Name and CFDA Number:Supportive Housing for Persons with Disabilities (Section 811) CFDA # 14.181Criteria:The Project is required to obtain HUD approval for all disbursements made from the residual receipts reserve.Condition:The Project did not comply with the requirements as two disbursements totaling $66,088 were made out of the residual receipts reserve without prior approval from HUD.Cause:The noncompliance was a result of lack of internal control over disbursements made from the residual receipts reserve.Effect:Lack of prior approval from HUD to withdraw funds could result in resources being used for unauthorized purposes.Questioned Cost:$66,088Context:There were two disbursements made from the residual receipts reserve account, in each case there was no prior approval from HUD.Repeat Finding:NoRecommendation:We recommend management establish appropriate controls to prevent disbursements made from the residual receipts reserve without HUD approval.View of Responsible Officials:Management agrees with this finding. Please refer to the corrective action plan.
FINDING No. 2019-001Significant DeficiencyResponsible Officials Response: We concur.Views of Responsible Officials and Corrective Action:The Project had numerous correspondences and conversations with HUD during and prior to the year ended December 31, 2019 regarding the calculation of residual receipts and the presentation of the amount owed to New Opportunities, Inc. for management fees and other operating expenses. Based on updated presentation, a misunderstanding that funds could be disbursed from residual receipts reserve without prior approval was determined. Two disbursements totaling $66,088 were done without HUD written approval. The Project will work with HUD on the approval process and obtain written approval on future disbursement from the residual receipts reserve.Name of Responsible Person: Mark E. Kovitch, CFOProjected Implementation Date: December 31, 2020
FAC accepted this audit on March 27, 2019 — management decision was due September 27, 2019.
FAC accepted this audit on March 30, 2018 — management decision was due September 30, 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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