EIN: 351492919
UEI: SPB2PK619UK1
Audited by: TIDWELL GROUP, LLC
Oversight agency: 10 [Department of Agriculture]
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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 May 7, 2023. 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 November 7, 2023 (1028 days ago).
What is a management decision? →The replacement reserve account is underfunded according to funding levels provided by USDA Rural Development. Amount of Questioned Cost: $36,547 Criteria: Compliance with USDA Rural Development regulations and the Loan Agreements require the reserve to be maintained at certain minimum amounts. Effect: Deferred maintenance could result from underfunding the reserve. Cause: Insufficient cash flow from operations. Recommendation: Increase monthly funding to the reserve as permitted by operating cash flow. Findings and Questioned Costs Prior Years None noted.
Show full finding ▾Hide full finding ▴Findings Financial Statements Audit None noted. Findings and Questioned Costs Major Award Programs Audit Finding 2022-1: Statement of Condition: The replacement reserve account is underfunded according to funding levels provided by USDA Rural Development. Amount of Questioned Cost: $36,547 Criteria: Compliance with USDA Rural Development regulations and the Loan Agreements require the reserve to be maintained at certain minimum amounts. Effect: Deferred maintenance could result from underfunding the reserve. Cause: Insufficient cash flow from operations. Recommendation: Increase monthly funding to the reserve as permitted by operating cash flow. Findings and Questioned Costs Prior Years None noted.
CORRECTIVE ACTION PLAN Milan Housing for the Elderly RD Project No: 15-69-291939067 December 31, 2022 Reporting Views of Responsible Officials We concur that the replacement reserve and the reserve for taxes and insurance are underfunded. Concur or Do Not Concur with this Finding: Concur Agree or Disagree with Auditor Recommendations: Agree Proposed Completion Date: December 31, 2023 Actions Taken or Planned on the Finding: The Project will increase funding as permitted by operating cash flows.
FAC accepted this audit on January 13, 2022 — management decision was due July 13, 2022.
The significant deficiency noted during our audit was the absence of secregation of duties and internal accounting control for the organizations accounting system. The treasurer is responsible for all aspects of the financial reporting process.This is because of the small size of the accounting function and the over all size of the entire organization.
Show full finding ▾Hide full finding ▴The significant deficiency noted during our audit was the absence of secregation of duties and internal accounting control for the organizations accounting system. The treasurer is responsible for all aspects of the financial reporting process.This is because of the small size of the accounting function and the over all size of the entire organization.
Milan Housing For The Elderly INC recognizes the significance of internal controls over financial reporting, and will, whenever possible, will use all personnel available (including Board Members) to help provide better seperation of duties. In the accounting function.
2019-001
FAC accepted this audit on January 6, 2021 — management decision was due July 6, 2021.
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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