EIN: 341460231
UEI: TDEJE8CW1JM9
Audited by: PLANTE & MORAN, PLLC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 24, 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 24, 2026 (52 days from today).
What is a management decision? →FAC accepted this audit on September 29, 2025 — management decision was due March 29, 2026.
FAC accepted this audit on April 24, 2024 — management decision was due October 24, 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 progress 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 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 34th 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.Department of Housing and Urban Development - Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Projects (Section 207/223(f))
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 progress 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 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 34th 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.Department of Housing and Urban Development - Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Projects (Section 207/223(f))
The security deposit was refunded to the tenant on the 34th 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 2, 2023 — management decision was due October 2, 2023.
FAC accepted this audit on March 31, 2022 — management decision was due October 1, 2022.
FAC accepted this audit on March 30, 2021 — management decision was due September 30, 2021.
FAC accepted this audit on March 29, 2020 — management decision was due September 29, 2020.
FAC accepted this audit on March 31, 2019 — management decision was due October 1, 2019.
FAC accepted this audit on March 21, 2018 — management decision was due September 21, 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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