EIN: 364516316
UEI: MTKMJXP4K2E7
Audited by: Agresta, Storms, & O'Leary
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 June 16, 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 December 16, 2026 (105 days from today).
What is a management decision? →FAC accepted this audit on April 3, 2025 — management decision was due October 3, 2025.
FAC accepted this audit on April 3, 2024 — management decision was due October 3, 2024.
FAC accepted this audit on May 4, 2023 — management decision was due November 4, 2023.
The project received a failing score of 53c on its REAC Physical Inspection. Criteria: HUD housing must be decent, safe, sanitary, and in good repairs per the Regulatory Agreement. Questioned Costs: Not applicable Effect: The Project risks losing HUD assistance if conditions do not meet inspection standards. Cause: Ongoing rehabilitation and repairs at the project do not yet meet HUD?s inspection standards based on most current inspection. Recommendation: Management should continue to correct all remaining deficiencies noted in the inspection. Management Response: Management agrees with finding and corrected significant health and safety issues in required time frame.
Show full finding ▾Hide full finding ▴Finding 2022-001 Statement of Condition: The project received a failing score of 53c on its REAC Physical Inspection. Criteria: HUD housing must be decent, safe, sanitary, and in good repairs per the Regulatory Agreement. Questioned Costs: Not applicable Effect: The Project risks losing HUD assistance if conditions do not meet inspection standards. Cause: Ongoing rehabilitation and repairs at the project do not yet meet HUD?s inspection standards based on most current inspection. Recommendation: Management should continue to correct all remaining deficiencies noted in the inspection. Management Response: Management agrees with finding and corrected significant health and safety issues in required time frame.
CORRECTIVE ACTION PLAN Auditee: Memorial Park Estates, Inc. HUD Project Number: 073-EE096 Audit Firm: Agresta, Storms & O?Leary, PC Audit Period Ended December 31, 2022 Corrective Action Plan Prepared by: Name: Mitch Walters Position: President, Justus Property Management, Inc. Telephone Number: 317-834-4756 A. Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations Finding No. 2022-001 A. Comments on the Finding and Each Recommendation: Management agrees with the finding. Management also agrees with the recommendation of ensuring all findings noted in the REAC inspection should be corrected in a timely manner. B. Action Taken or Planned on the Finding: Management corrected significant health and safety issues in the required time frame. Mitch Walters, President of Justus Property Management, Inc. will monitor physical project needs to ensure decent, safe, and sanitary living conditions. Respectfully submitted, Mitch Walters President Justus Property Management, Inc.
2021-002
FAC accepted this audit on May 12, 2022 — management decision was due November 12, 2022.
The Corporation failed to make all 12 monthly deposits into the replacement reserve account. The account is underfunded by $5,000 at December 31, 2021. Criteria: The Corporation is required to make monthly deposits to the replacement reserve account in accordance with the regulatory agreement. Questioned Costs: None noted Effect: The Corporation is not in compliance with the regulatory agreement. Cause: The Corporation failed to make some of the required monthly deposits to the replacement reserve account due to cash flow issues. Recommendation: The Corporation should deposit the required funds into the replacement reserve account when funds are available. Management Response: Management agrees with finding and subsequent to year end, fully funded the reserve account.
Show full finding ▾Hide full finding ▴Finding 2021-001 Statement of Condition: The Corporation failed to make all 12 monthly deposits into the replacement reserve account. The account is underfunded by $5,000 at December 31, 2021. Criteria: The Corporation is required to make monthly deposits to the replacement reserve account in accordance with the regulatory agreement. Questioned Costs: None noted Effect: The Corporation is not in compliance with the regulatory agreement. Cause: The Corporation failed to make some of the required monthly deposits to the replacement reserve account due to cash flow issues. Recommendation: The Corporation should deposit the required funds into the replacement reserve account when funds are available. Management Response: Management agrees with finding and subsequent to year end, fully funded the reserve account.
Corrective Action Plan Prepared by: Name: Mitch Walters Position: President, Justus Property Management, Inc. Telephone Number: 317-834-4756 A. Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations Finding No. 2021-001 A. Comments on the Finding and Each Recommendation: Management agrees with the finding. Management also agrees with the recommendation of depositing the required funds into the reserve account when funds are available. B. Action Taken or Planned on the Finding: Management deposited the required funds into the replacement reserve in 2022. Mitch Walters, President of Justus Property Management, Inc.. will monitor reserve activity to ensure monthly deposits to the reserve are being completed.
2020-001
The project received a failing score of 58c on its REAC Physical Inspection. Criteria: HUD housing must be decent, safe, sanitary, and in good repairs per the Regulatory Agreement. Questioned Costs: Not applicable Effect: The Project risks losing HUD assistance if conditions do not meet inspection standards. Cause: Lack of available cash flow. Recommendation: Management should continue to correct all remaining deficiencies noted in the inspection. Management Response: Management agrees with finding and corrected significant health and safety issues in required time frame.
Show full finding ▾Hide full finding ▴Statement of Condition: The project received a failing score of 58c on its REAC Physical Inspection. Criteria: HUD housing must be decent, safe, sanitary, and in good repairs per the Regulatory Agreement. Questioned Costs: Not applicable Effect: The Project risks losing HUD assistance if conditions do not meet inspection standards. Cause: Lack of available cash flow. Recommendation: Management should continue to correct all remaining deficiencies noted in the inspection. Management Response: Management agrees with finding and corrected significant health and safety issues in required time frame.
Corrective Action Plan Prepared by: Name: Mitch Walters Position: President, Justus Property Management, Inc. Telephone Number: 317-834-4756 A. Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations Finding No 2021-002 C. Comments on the Finding and Each Recommendation: Management agrees with the finding. Management also agrees with the recommendation of ensuring all findings noted in the REAC inspection should be corrected. D. Action Taken or Planned on the Finding: Management corrected significant health and safety issues in the required time frame. Mitch Walters, President of Justus Property Management, Inc. will monitor physical project needs to ensure decent, safe, and sanitary living conditions.
FAC accepted this audit on June 18, 2021 — management decision was due December 18, 2021.
The Corporation failed to make all 12 monthly deposits into the replacement reserve account. Criteria: The Corporation is required to make monthly deposits to the replacement reserve account in accordance with the regulatory agreement. Questioned Costs: $2,500 Effect: The Corporation is not in compliance with the regulatory agreement. Cause: The Corporation failed to make some of the required monthly deposits to the replacement reserve account due to cash flow issues. Recommendation: The Corporation should deposit the required funds into the replacement reserve account when funds are available. Management Response: Subsequent to year-end, Corporation deposited the funds.
Show full finding ▾Hide full finding ▴Finding No. 2020-001 Statement of Condition: The Corporation failed to make all 12 monthly deposits into the replacement reserve account. Criteria: The Corporation is required to make monthly deposits to the replacement reserve account in accordance with the regulatory agreement. Questioned Costs: $2,500 Effect: The Corporation is not in compliance with the regulatory agreement. Cause: The Corporation failed to make some of the required monthly deposits to the replacement reserve account due to cash flow issues. Recommendation: The Corporation should deposit the required funds into the replacement reserve account when funds are available. Management Response: Subsequent to year-end, Corporation deposited the funds.
Department of Housing and Urban Development CFDA 14.157 Supportive Housing for the Elderly ? Section 202 Finding No. 2020-001 ? Federal Award Finding Statement of Condition: The Corporation failed to make all 12 monthly deposits into the replacement reserve account. Responsible Individual: Steve Walters Management Views: Management agrees with the finding and the recommendation. Corrective Action: Subsequent to year-end, the Corporation deposited the funds. Anticipated Completion Date: December 31, 2021
FAC accepted this audit on May 10, 2020 — management decision was due November 10, 2020.
FAC accepted this audit on July 30, 2019 — management decision was due January 30, 2020.
GSA_MIGRATION
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GSA_MIGRATION
GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on May 28, 2018 — management decision was due November 28, 2018.
FAC accepted this audit on August 31, 2017 — management decision was due March 3, 2018.
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