EIN: 362170152
UEI: GSA_MIGRATION
Single Audit filed under EIN: 351443425
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Audited by: RSM US LLP
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on May 27, 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 November 27, 2021 (1742 days ago).
What is a management decision? →Mortgage payments are due on the first day of every month; however the Corporation has a fifteen day grace period available to make a payment and avoid the assessment of late fees. The October payments were made by the Corporation on October 23rd, 2019. As a result a late fee was assessed. Cause: Mortgage payments are made through electronic fund transfers that are manually initiated by management. The October payments were not initiated by management timely due to an inadvertent oversight. The payment was not initiated until October 23rd, 2019. Effect: The payments made by the Corporation were deemed to be late and a late fee was assessed and paid by the Corporation. Questioned Costs: None Context: The payment was submitted 8 days after the grace period. Recommendation: We recommend that Corporation implements a formal process in which payments are initiated, approved and processed on a timely basis. We recommend that management considers the implementation of a scheduled payment process with the bank that eliminates the need for a manual request to initiate the payment. Views of Responsible Official: Management has implemented a process where mortgage payments are automatically initiated by the bank based on a mutually agreed schedule. This process eliminates the need for a manual request to initiate the payment.
Show full finding ▾Hide full finding ▴Section III. Findings and Questioned Costs For Federal Awards Identification of federal program: Finding 2020-01: CFDA 14.128 Section 242 ? Mortgage Insurance for Hospitals Criteria or specific requirement: The Regulatory Agreement for Multifamily Projects requires the Corporation to make mortgage payments in full and on time. Condition: Mortgage payments are due on the first day of every month; however the Corporation has a fifteen day grace period available to make a payment and avoid the assessment of late fees. The October payments were made by the Corporation on October 23rd, 2019. As a result a late fee was assessed. Cause: Mortgage payments are made through electronic fund transfers that are manually initiated by management. The October payments were not initiated by management timely due to an inadvertent oversight. The payment was not initiated until October 23rd, 2019. Effect: The payments made by the Corporation were deemed to be late and a late fee was assessed and paid by the Corporation. Questioned Costs: None Context: The payment was submitted 8 days after the grace period. Recommendation: We recommend that Corporation implements a formal process in which payments are initiated, approved and processed on a timely basis. We recommend that management considers the implementation of a scheduled payment process with the bank that eliminates the need for a manual request to initiate the payment. Views of Responsible Official: Management has implemented a process where mortgage payments are automatically initiated by the bank based on a mutually agreed schedule. This process eliminates the need for a manual request to initiate the payment.
Finding 2020-001: Finding: The Prudential HUD Mortgage loan payments are due on the first day of every month; however, Mercy Hospital and Medical Center has a fifteen day grace period available to make the payment and avoid the assessment of late fees. The October 2019 payments were made by Mercy Hospital and Medical Center on October 23, 2019. As a result a late fee was assessed. Corrective Actions Taken or Planned: Effective November 25, 2019, the Mercy Hospital and Medical Center worked with its bank to automate the mortgage payments and they are now automatically initiated by the bank based on a mutually agreed schedule that ensures the payments are made based on the mortgage agreements. See corrective action plan for signatures and information of responsible official.
FAC accepted this audit on March 15, 2020 — management decision was due September 15, 2020.
FAC accepted this audit on March 2, 2019 — management decision was due September 2, 2019.
FAC accepted this audit on March 27, 2018 — management decision was due September 27, 2018.
FAC accepted this audit on March 6, 2017 — management decision was due September 6, 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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