EIN: 331203116
UEI: GSA_MIGRATION
Single Audit filed under EIN: 391904367
331203117, 391518076, 391844829, 392015525, 392030436, 392035771, 392036326, 392043528, 900884253 · unlinked EINs have no separate FAC filing
Audited by: DAUBY O'CONNOR & ZALESKI, LLC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on October 24, 2021. 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 April 24, 2022 (1590 days ago).
What is a management decision? →FAC accepted this audit on November 24, 2020 — management decision was due May 24, 2021.
Finding reference number: #2020-001 CFDA title and number (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA 14.155 (075-11168, year 2013) Auditor non-compliance code: N - Reserve for Replacement deposits Finding resolution status: Resolved Universe population size: 12 months of deposits to the reserve for replacements. Sample size information: 12 months of deposits to the reserve for replacements. Noncompliance information: See statement of condition #2020-001 for noncompliance information. Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $730 Statement of Condition #2020-001 (CFDA 14.155): At September 30, 2020, deposits to the reserve for replacements account totaling $730 had not been made. Criteria: Pursuant to item 10(b) of the Regulatory Agreement (form HUD-92466), the Company shall make monthly deposits into a separate reserve for replacements account. These required monthly deposits were $3,483 for October and November of 2019 and were increased to $3,556 effective December of 2019 through September of 2020. Effect or potential effect: The Company is not in compliance with the terms of the Regulatory Agreement. The reserve for replacements account is underfunded by $730 at September 30, 2020. Cause: Management received a deposit increase to the reserve for replacements account that was effective beginning December 1, 2019. Management did not notify the lender of the deposit increase and failed to catch up the reserve prior to year-end.Recommendation: Management should transfer $730 from the operating account to the reserve for replacements account to fund the reserve for replacements account. Completion date: November 16, 2020 Reporting view of responsible officials: Management concurs with the finding and recommendation and transferred $730 on November 16, 2020 to the reserve for replacements account.
Show full finding ▾Hide full finding ▴Finding reference number: #2020-001 CFDA title and number (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA 14.155 (075-11168, year 2013) Auditor non-compliance code: N - Reserve for Replacement deposits Finding resolution status: Resolved Universe population size: 12 months of deposits to the reserve for replacements. Sample size information: 12 months of deposits to the reserve for replacements. Noncompliance information: See statement of condition #2020-001 for noncompliance information. Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $730 Statement of Condition #2020-001 (CFDA 14.155): At September 30, 2020, deposits to the reserve for replacements account totaling $730 had not been made. Criteria: Pursuant to item 10(b) of the Regulatory Agreement (form HUD-92466), the Company shall make monthly deposits into a separate reserve for replacements account. These required monthly deposits were $3,483 for October and November of 2019 and were increased to $3,556 effective December of 2019 through September of 2020. Effect or potential effect: The Company is not in compliance with the terms of the Regulatory Agreement. The reserve for replacements account is underfunded by $730 at September 30, 2020. Cause: Management received a deposit increase to the reserve for replacements account that was effective beginning December 1, 2019. Management did not notify the lender of the deposit increase and failed to catch up the reserve prior to year-end.Recommendation: Management should transfer $730 from the operating account to the reserve for replacements account to fund the reserve for replacements account. Completion date: November 16, 2020 Reporting view of responsible officials: Management concurs with the finding and recommendation and transferred $730 on November 16, 2020 to the reserve for replacements account.
Name of auditee: Fernwood Court Apartments, LLC HUD auditee identification number: 075-11168 Name of audit firm: Dauby O'Connor & Zaleski, LLC Period covered by the audit: Year ended September 30, 2020 CAP prepared by Name: Susan Kissinger Position: President, TEAM Management Telephone number: 414-273-8326 Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations Finding #2020-001 Comment on the finding and each recommendation: At September 30, 2020, deposits to the reserve for replacements account totaling $730 had not been made. Management should transfer $730 from the operating account to the reserve for replacements account to fund the reserve for replacements account. Action(s) taken or planned on the finding: Management concurs with the finding and recommendation and transferred $730 on November 16, 2020 to the reserve for replacements account.
FAC accepted this audit on November 19, 2019 — management decision was due May 19, 2020.
FAC accepted this audit on December 13, 2018 — management decision was due June 13, 2019.
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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