EIN: 351784190
UEI: CWFLLNXXH4Y5
Data as of August 23, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on October 31, 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 May 1, 2024 (844 days ago).
What is a management decision? →Replacement reserve deposits in the amount of $17,700 were not deposited into the account as required by the Regulatory Agreement during the year ended June 30, 2023. Cause: The Company had cash flow shortfalls after paying other operating expenses. Effect: he Company was not in compliance with the Regulatory Agreement relative to the required replacement reserve deposits. Context: This is not a sampling of audit procedure. Amount of Questioned Costs: $0 Auditor’s Non-Compliance Code: N - Owners must make monthly deposits to the replacement reserve account in the amount prescribed by HUD. Reporting Views of Responsible Officials: he Company could not make the replacement reserve deposits due to cash shortfalls. Recommendation: Make the required delinquent deposit to the replacement reserve account, and ensure all future deposits are made as required by the Regulatory Agreement. Auditor’s Summary of Auditee’s Comments on the Findings and Recommendations: Auditee agreed with auditor’s findings. Response Indicator: Accepted Completion Date: Open Response: Management has been waiting to receive prior months delinquent PRAC voucher requests and has been unable to make the monthly replacement reserve deposits. Contact Person: Rod Ludwig
Show full finding ▾Hide full finding ▴Criteria: Pursuant to the Regulatory Agreement, monthly deposits to a reserve for replacement account must be made in the amount established by HUD. Statement of Condition: Replacement reserve deposits in the amount of $17,700 were not deposited into the account as required by the Regulatory Agreement during the year ended June 30, 2023. Cause: The Company had cash flow shortfalls after paying other operating expenses. Effect: he Company was not in compliance with the Regulatory Agreement relative to the required replacement reserve deposits. Context: This is not a sampling of audit procedure. Amount of Questioned Costs: $0 Auditor’s Non-Compliance Code: N - Owners must make monthly deposits to the replacement reserve account in the amount prescribed by HUD. Reporting Views of Responsible Officials: he Company could not make the replacement reserve deposits due to cash shortfalls. Recommendation: Make the required delinquent deposit to the replacement reserve account, and ensure all future deposits are made as required by the Regulatory Agreement. Auditor’s Summary of Auditee’s Comments on the Findings and Recommendations: Auditee agreed with auditor’s findings. Response Indicator: Accepted Completion Date: Open Response: Management has been waiting to receive prior months delinquent PRAC voucher requests and has been unable to make the monthly replacement reserve deposits. Contact Person: Rod Ludwig
Findings - Financial Statement Audit: None Findings - Federal Award Programs Audit: U.S. Department of Housing and Urban Development Finding 2023-001: Section 202 Capital Advance, CFDA 14.157 Recommendation: Make the required delinquent deposit to the replacement reserve account and ensure that all future deposits are made as required by the Regulatory Agreement. Action Taken: Management will make the required replacement reserve deposits as soon as possible and will ensure compliance in the future.
2022-001
FAC accepted this audit on December 8, 2022 — management decision was due June 8, 2023.
Replacement reserve deposits in the amount of $7,080 as of June 30, 2022 was not deposited into the account as required by the Regulatory Agreement. Cause: The Company had cash flow shortfalls after paying other operating expenses. Effect: The Company was not in compliance with the Regulatory Agreement relative to the required replacement reserve deposits. Context: This was not a sampling audit procedure. Amount of Questioned Costs: $-0- Recommendation: Make the required delinquent deposit to the replacement reserve account, and ensure all future deposits are made as required by the Regulatory Agreement. Auditor?s Non-Compliance Code: N - Owners must make monthly deposits to the replacement reserve account in the amount prescribed by HUD. Reporting Views of Responsible Officials: The Company could not make the replacement reserve deposits due to cash shortfalls. Auditor?s Summary of Auditee?s Comments on the Findings and Recommendations: Auditee agreed with auditor?s findings. Response Indicator: Accepted Completion Date: Open Response: Management has been waiting to receive prior months delinquent PRAC voucher requests and has been unable to make the monthly replacement reserve deposits. Contact Person: Rod Ludwig
Show full finding ▾Hide full finding ▴Section 202 Capital Advance, CFDA 14.157 Finding# 2022-001 Criteria: Pursuant to the Regulatory Agreement, monthly deposits to the replacement reserve account must be made in the amount established by HUD. Statement of Condition: Replacement reserve deposits in the amount of $7,080 as of June 30, 2022 was not deposited into the account as required by the Regulatory Agreement. Cause: The Company had cash flow shortfalls after paying other operating expenses. Effect: The Company was not in compliance with the Regulatory Agreement relative to the required replacement reserve deposits. Context: This was not a sampling audit procedure. Amount of Questioned Costs: $-0- Recommendation: Make the required delinquent deposit to the replacement reserve account, and ensure all future deposits are made as required by the Regulatory Agreement. Auditor?s Non-Compliance Code: N - Owners must make monthly deposits to the replacement reserve account in the amount prescribed by HUD. Reporting Views of Responsible Officials: The Company could not make the replacement reserve deposits due to cash shortfalls. Auditor?s Summary of Auditee?s Comments on the Findings and Recommendations: Auditee agreed with auditor?s findings. Response Indicator: Accepted Completion Date: Open Response: Management has been waiting to receive prior months delinquent PRAC voucher requests and has been unable to make the monthly replacement reserve deposits. Contact Person: Rod Ludwig
CORRECTIVE ACTION PLAN October 11, 2022 U.S. Department of Housing and Urban Development Multifamily Midwest Region Chicago Regional Center 77 West Jackson Boulevard Chicago, IL 60604 Kenwood Place II, Inc. respectfully submits the following corrective action plan for the year ended June 30, 2022. Name and address of independent public accounting firm: Somerset CPAs, P.C. 3925 River Crossing Pkwv, Suite 100, Indianapolis, IN 46240 Audit period: Year ended June 30, 2022 The findings from the June 30, 2022 schedule of findings and questioned costs are discussed below. The findings are numbered consistently with the number assigned in the schedule. Section A of the schedule, Summary of Audit Results, does not include findings and is not addressed. Findings - Financial Statement Audit: None Findings - Federal Award Programs Audit: U.S. Department of Housing and Urban Development Finding 2022-001: Section 202 Capital Advance, CFDA 14.157 Recommendation: Make the required delinquent deposit to the replacement reserve account and ensure that all future deposits are made as required by the Regulatory Agreement. Action Taken: Management will make the required replacement reserve deposits as soon as possible and will ensure compliance in the future. Findings - Federal Award Programs Audit: U.S. Department of Housing and Urban Development Finding 2022-001: Section 202 Capital Advance, CFDA 14.157 Recommendation: Repay the unapproved replacement reserve withdrawal upon receipt of outstanding PRAC voucher requests, and ensure all future withdrawals are approved by HUD prior to withdrawing the funds, as required by the Regulatory Agreement. Action Taken: Management will repay the unapproved replacement reserve withdrawal upon receipt of outstanding PRAC voucher requests and will ensure compliance in the future. If the U.S. Department of Housing and Urban Development has questions regarding this plan, please call Rod Ludwig at 574-968-9267. Sincerely yours, Rod Ludwig Bradley Company (Management Agent) Senior Managing Director
Unauthorized withdrawals in the amount of $11,006 were taken from the replacement reserve account during the year. Cause: The Company had cash flow shortfalls after paying other operating expenses due to delays in receiving monthly PRAC voucher requests. Effect: The Company was not in compliance with the Regulatory Agreement relative to the required HUD approval of replacement reserve withdrawals. Context: This was not a sampling audit procedure. Amount of Questioned Costs: $-0- Recommendation: Repay the unapproved replacement reserve withdrawal upon receipt of outstanding PRAC voucher requests, and ensure all future withdrawals are approved by HUD prior to withdrawing the funds, as required by the Regulatory Agreement. Auditor?s Non-Compliance Code: A - Owners must ensure all withdrawals from the replacement reserve account are approved by HUD. Reporting Views of Responsible Officials: The Company had cash flow shortfalls after paying other operating expenses due to delays in receiving monthly PRAC voucher requests. Auditor?s Summary of Auditee?s Comments on the Findings and Recommendations: Auditee agreed with auditor?s findings. Response Indicator: Accepted Completion Date: Open Response: Management has been waiting to receive prior months delinquent PRAC voucher requests and needed funds for operating expenses. Contact Person: Rod Ludwig
Show full finding ▾Hide full finding ▴Section 202 Capital Advance, CFDA 14.157 Finding# 2022-002 Criteria: Pursuant to the Regulatory Agreement, withdrawals from the replacement reserve account must be approved by HUD. Statement of Condition: Unauthorized withdrawals in the amount of $11,006 were taken from the replacement reserve account during the year. Cause: The Company had cash flow shortfalls after paying other operating expenses due to delays in receiving monthly PRAC voucher requests. Effect: The Company was not in compliance with the Regulatory Agreement relative to the required HUD approval of replacement reserve withdrawals. Context: This was not a sampling audit procedure. Amount of Questioned Costs: $-0- Recommendation: Repay the unapproved replacement reserve withdrawal upon receipt of outstanding PRAC voucher requests, and ensure all future withdrawals are approved by HUD prior to withdrawing the funds, as required by the Regulatory Agreement. Auditor?s Non-Compliance Code: A - Owners must ensure all withdrawals from the replacement reserve account are approved by HUD. Reporting Views of Responsible Officials: The Company had cash flow shortfalls after paying other operating expenses due to delays in receiving monthly PRAC voucher requests. Auditor?s Summary of Auditee?s Comments on the Findings and Recommendations: Auditee agreed with auditor?s findings. Response Indicator: Accepted Completion Date: Open Response: Management has been waiting to receive prior months delinquent PRAC voucher requests and needed funds for operating expenses. Contact Person: Rod Ludwig
CORRECTIVE ACTION PLAN October 11, 2022 U.S. Department of Housing and Urban Development Multifamily Midwest Region Chicago Regional Center 77 West Jackson Boulevard Chicago, IL 60604 Kenwood Place II, Inc. respectfully submits the following corrective action plan for the year ended June 30, 2022. Name and address of independent public accounting firm: Somerset CPAs, P.C. 3925 River Crossing Pkwv, Suite 100, Indianapolis, IN 46240 Audit period: Year ended June 30, 2022 The findings from the June 30, 2022 schedule of findings and questioned costs are discussed below. The findings are numbered consistently with the number assigned in the schedule. Section A of the schedule, Summary of Audit Results, does not include findings and is not addressed. Findings - Financial Statement Audit: None Findings - Federal Award Programs Audit: U.S. Department of Housing and Urban Development Finding 2022-001: Section 202 Capital Advance, CFDA 14.157 Recommendation: Make the required delinquent deposit to the replacement reserve account and ensure that all future deposits are made as required by the Regulatory Agreement. Action Taken: Management will make the required replacement reserve deposits as soon as possible and will ensure compliance in the future. Findings - Federal Award Programs Audit: U.S. Department of Housing and Urban Development Finding 2022-001: Section 202 Capital Advance, CFDA 14.157 Recommendation: Repay the unapproved replacement reserve withdrawal upon receipt of outstanding PRAC voucher requests, and ensure all future withdrawals are approved by HUD prior to withdrawing the funds, as required by the Regulatory Agreement. Action Taken: Management will repay the unapproved replacement reserve withdrawal upon receipt of outstanding PRAC voucher requests and will ensure compliance in the future. If the U.S. Department of Housing and Urban Development has questions regarding this plan, please call Rod Ludwig at 574-968-9267. Sincerely yours, Rod Ludwig Bradley Company (Management Agent) Senior Managing Director
FAC accepted this audit on May 5, 2019 — management decision was due November 5, 2019.
GSA_MIGRATION
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GSA_MIGRATION
2017-001
GSA_MIGRATION
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GSA_MIGRATION
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GSA_MIGRATION
FAC accepted this audit on January 15, 2018 — management decision was due July 15, 2018.
GSA_MIGRATION
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GSA_MIGRATION
2016-001
FAC accepted this audit on September 20, 2016 — management decision was due March 20, 2017.
GSA_MIGRATION
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2015-001
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