EIN: 341985427
UEI: P6LNWC5HVK49
Audited by: MADDOX & ASSOCIATES, APC
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 December 1, 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 June 1, 2026 (93 days ago).
What is a management decision? →FAC accepted this audit on November 18, 2024 — management decision was due May 18, 2025.
FAC accepted this audit on January 2, 2024 — management decision was due July 2, 2024.
FAC accepted this audit on November 8, 2022 — management decision was due May 8, 2023.
FAC accepted this audit on September 21, 2021 — management decision was due March 21, 2022.
The project did not remit excess Residual Receipts to HUD. Cause: Residual Receipts account balance was not monitored. Effect or Potential Effect: Residual Receipts account is in excess of the required balance. Auditor Non-Compliance Code: Z Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The excess funds were accrued to submit to HUD. Context: The project did not remit excess Residual Receipts to HUD. Recommendation: Management should monitor the Residual Receipts account balance and remit excess deposits to HUD. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The excess funds were accrued to submit to HUD. Response Indicator: Agree Completion Date: August 27, 2021 Response: Management agrees with the finding. The excess funds were accrued to submit to HUD.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2021-001 Type of Finding: FA Finding Resolution Status: In Process Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: HUD Memorandum dated October 14, 2016, ?Continuing Remission of Excess PRAC Residual Receipts?, continues the requirement that ?Any balance greater than $250 per unit in a Residual Receipts account must be remitted to HUD?s Accounting Center upon ?termination? of the PRAC?. Statement of Condition: The project did not remit excess Residual Receipts to HUD. Cause: Residual Receipts account balance was not monitored. Effect or Potential Effect: Residual Receipts account is in excess of the required balance. Auditor Non-Compliance Code: Z Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The excess funds were accrued to submit to HUD. Context: The project did not remit excess Residual Receipts to HUD. Recommendation: Management should monitor the Residual Receipts account balance and remit excess deposits to HUD. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The excess funds were accrued to submit to HUD. Response Indicator: Agree Completion Date: August 27, 2021 Response: Management agrees with the finding. The excess funds were accrued to submit to HUD.
Finding Reference Number: 2021-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The excess funds were accrued to submit to HUD. Completion Date: August 27, 2021
FAC accepted this audit on September 23, 2020 — management decision was due March 23, 2021.
Surplus cash was not deposited into the Residual Receipts account within 90 days. Cause: Procedures in place to ensure that the deposit is made were not followed. Effect or Potential Effect: The deposit was not made timely. Auditor Non-Compliance Code: B Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The residual receipts account deficiency was funded on June 30, 2020 in the amount of $14,039. Management will ensure that the residual receipts account is properly funded in the future. Context: Surplus cash was not deposited into the Residual Receipts account within 90 days. Recommendation: Management should review its surplus cash calculation at or near year end to determine whether the project is in a surplus cash position. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The residual receipts account deficiency was funded on June 30, 2020 in the amount of $14,039. Management will ensure that the residual receipts account is properly funded in the future. Response Indicator: Agree Completion Date: June 30, 2020 Response: Management agrees with the finding. The residual receipts account deficiency was funded on June 30, 2020 in the amount of $14,039. Management will ensure that the residual receipts account is properly funded in the future.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2020-001 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The regulatory agreement requires the project to deposit ?surplus cash? into a Residual Receipts account with 90 days after the end of the fiscal year. Statement of Condition: Surplus cash was not deposited into the Residual Receipts account within 90 days. Cause: Procedures in place to ensure that the deposit is made were not followed. Effect or Potential Effect: The deposit was not made timely. Auditor Non-Compliance Code: B Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The residual receipts account deficiency was funded on June 30, 2020 in the amount of $14,039. Management will ensure that the residual receipts account is properly funded in the future. Context: Surplus cash was not deposited into the Residual Receipts account within 90 days. Recommendation: Management should review its surplus cash calculation at or near year end to determine whether the project is in a surplus cash position. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The residual receipts account deficiency was funded on June 30, 2020 in the amount of $14,039. Management will ensure that the residual receipts account is properly funded in the future. Response Indicator: Agree Completion Date: June 30, 2020 Response: Management agrees with the finding. The residual receipts account deficiency was funded on June 30, 2020 in the amount of $14,039. Management will ensure that the residual receipts account is properly funded in the future.
Finding Reference Number: 2020-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The residual receipts account deficiency was funded on June 30, 2020 in the amount of $14,039. Management will ensure that the residual receipts account is properly funded in the future. Completion Date: June 30, 2020
FAC accepted this audit on September 26, 2019 — management decision was due March 26, 2020.
Required monthly deposits to the replacement reserve are deficient in the amount of $584. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency was funded on July 1, 2019 in the amount of $584. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $584. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency was funded on July 1, 2019 in the amount of $584. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: July 1, 2019 Response: Management agrees with the finding. The replacement reserve deficiency was funded on July 1, 2019 in the amount of $584. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2019-001 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The regulatory agreement (as amended) requires monthly deposits of $584. Statement of Condition: Required monthly deposits to the replacement reserve are deficient in the amount of $584. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency was funded on July 1, 2019 in the amount of $584. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $584. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency was funded on July 1, 2019 in the amount of $584. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: July 1, 2019 Response: Management agrees with the finding. The replacement reserve deficiency was funded on July 1, 2019 in the amount of $584. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Finding Reference Number: 2019-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The replacement reserve deficiency was funded on July 1, 2019 in the amount of $584. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Completion Date: July 1, 2019
The project overpaid expenses to the management agent in the amount of $1,064. Cause: The managing agent did not take the proper steps in calculating reimbursable expenses on a monthly basis to ensure that the correct amounts were charged. Effect or Potential Effect: The property has a receivable from the managing agent in the amount of $1,064. Auditor Non-Compliance Code: G Questioned Costs: $1,064 Reporting Views of Responsible Officials: Management agrees with the finding. The management agent issued a credit and implemented a new system to ensure there are no future overpayments. Context: The project overpaid expenses to the management agent in the amount of 1,064. Recommendation: The managing agent should reimburse the project for the overpaid expenses. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The management agent issued a credit and implemented a new system to ensure there are no future overpayments. Response Indicator: Agree Completion Date: August 22, 2019 Response: Management agrees with the finding. The management agent issued a credit and implemented a new system to ensure there are no future overpayments.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2019-002 Type of Finding: FA Finding Resolution Status: In Process Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: Project funds may be used only for expenses that are reasonable and necessary to the operation of the project as provided for in the Regulatory Agreement between HUD and the project owner. Statement of Condition: The project overpaid expenses to the management agent in the amount of $1,064. Cause: The managing agent did not take the proper steps in calculating reimbursable expenses on a monthly basis to ensure that the correct amounts were charged. Effect or Potential Effect: The property has a receivable from the managing agent in the amount of $1,064. Auditor Non-Compliance Code: G Questioned Costs: $1,064 Reporting Views of Responsible Officials: Management agrees with the finding. The management agent issued a credit and implemented a new system to ensure there are no future overpayments. Context: The project overpaid expenses to the management agent in the amount of 1,064. Recommendation: The managing agent should reimburse the project for the overpaid expenses. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The management agent issued a credit and implemented a new system to ensure there are no future overpayments. Response Indicator: Agree Completion Date: August 22, 2019 Response: Management agrees with the finding. The management agent issued a credit and implemented a new system to ensure there are no future overpayments.
Finding Reference Number: 2019-002 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The management agent issued a credit and implemented a new system to ensure there are no future overpayments. Completion Date: August 22, 2019
FAC accepted this audit on December 2, 2018 — management decision was due June 2, 2019.
FAC accepted this audit on September 21, 2017 — management decision was due March 21, 2018.
FAC accepted this audit on October 4, 2016 — management decision was due April 4, 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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