EIN: 371805492
UEI: CFLPQKRYN2W3
Audited by: EIDE BAILLY LLP
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 January 18, 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 July 18, 2023 (1142 days ago).
What is a management decision? →FAC accepted this audit on April 6, 2022 — management decision was due October 6, 2022.
Our testing of the use of Project funds detected three instances where an employee?s timesheet was not approved and two instances where an employee?s timesheet was approved after payroll; however, we were unable to determine whether the review occurred within a reasonable amount of time after the payroll period. Cause: There was a lapse in oversight of the internal control process designed to ensure timesheets are properly approved and approved within a reasonable amount of time after the payroll period. Effect: Lack of compliance with designed internal controls over use of Project funds could adversely affect the Project?s compliance with HUD regulations. Questioned Costs: $0 Context/Sampling: A nonstatistical sample of 60 of the Project?s 1,028 disbursements ($102,161 of $537,057 total disbursements), including payroll and non-payroll, was selected for testing. Repeat Finding from Prior Year: No Recommendation: We recommend the Project review policies and procedures with applicable employees and remind them of the importance of established review and monitoring processes. Views of Responsible Officials: Management agrees with the finding and the recommendation.
Show full finding ▾Hide full finding ▴2021-001 U.S. Department of Housing and Urban Development Federal Financial Assistance Listing #14.155 Section 223(f) Mortgage Insurance for the Purchase of Refinancing of Existing Multifamily Housing Projects Special Tests and Provisions: Use of Project Funds Significant Deficiency in Internal Control over Compliance Criteria: 2 CRF 200.303(a) establishes that the auditee must establish and maintain effective internal control over the federal award that provides assurance that the entity is managing the federal award in compliance with federal statutes, regulations, and the terms and conditions of the federal award. Condition: Our testing of the use of Project funds detected three instances where an employee?s timesheet was not approved and two instances where an employee?s timesheet was approved after payroll; however, we were unable to determine whether the review occurred within a reasonable amount of time after the payroll period. Cause: There was a lapse in oversight of the internal control process designed to ensure timesheets are properly approved and approved within a reasonable amount of time after the payroll period. Effect: Lack of compliance with designed internal controls over use of Project funds could adversely affect the Project?s compliance with HUD regulations. Questioned Costs: $0 Context/Sampling: A nonstatistical sample of 60 of the Project?s 1,028 disbursements ($102,161 of $537,057 total disbursements), including payroll and non-payroll, was selected for testing. Repeat Finding from Prior Year: No Recommendation: We recommend the Project review policies and procedures with applicable employees and remind them of the importance of established review and monitoring processes. Views of Responsible Officials: Management agrees with the finding and the recommendation.
Finding 2021-001 Federal Agency Name: U.S. Department of Housing and Urban Development Program Name: Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects ? Section 223f Federal Financial Assistance Listing #14.155 Finding Summary: The Project?s internal control process requires approval of timesheets. During testing, there were three instances where an employee?s timesheet was not approved and two instances where an employee?s timesheet was approved after payroll; however, we were unable to determine whether the review occurred within a reasonable amount of time after the payroll period. Responsible Individuals: Lana Walter, Manager, Regional Affordable Housing and Matt Sieler, Supervisor Accounting Corrective Action Plan: We will review our procedures with applicable employees to ensure compliance with designed controls. Anticipated Correction Date: January 31, 2022
FAC accepted this audit on April 21, 2021 — management decision was due October 21, 2021.
Our testing of tenant files identified the following exceptions which affected four tenant files: ? One instance where the cost of living adjustment for 2020 was not included within the calculation of tenant income. ? Three instances where the checking account balance was calculated using the current balance rather than the six-month average balance. ? One instance where medical expenses were not properly verified by a third party. Cause: There was a lapse in the internal control process for calculating tenant rent and maintaining tenant files within compliance requirements. Effect: Lack of compliance with designed internal controls over eligibility could adversely affect the Project?s compliance with HUD regulations. Questioned Costs: $77 Context/Sampling: A nonstatistical sample of eight tenant files out of the Project?s 45 total tenants residing in the Project during the year, including move-in and move-out residents, was selected for testing. Repeat Finding from Prior Year: None Recommendation: We recommend the Project review policies and procedures with applicable employees and remind them of the importance of following regulations regarding the maintenance of tenant files and the calculation of tenant rent. Form 50059 should be updated, as needed. Views of Responsible Officials: Management agrees with the finding and recommendation.
Show full finding ▾Hide full finding ▴2020-002 U.S. Department of Housing and Urban Development Federal Financial Assistance Listing #14.155 Section 223(f) Mortgage Insurance for the Purchase of Refinancing of Existing Multifamily Housing Projects Eligibility Significant Deficiency in Internal Control over Compliance Criteria: The Project is required to maintain tenant files and calculate tenant assets and tenant income in accordance with HUD requirements. Condition: Our testing of tenant files identified the following exceptions which affected four tenant files: ? One instance where the cost of living adjustment for 2020 was not included within the calculation of tenant income. ? Three instances where the checking account balance was calculated using the current balance rather than the six-month average balance. ? One instance where medical expenses were not properly verified by a third party. Cause: There was a lapse in the internal control process for calculating tenant rent and maintaining tenant files within compliance requirements. Effect: Lack of compliance with designed internal controls over eligibility could adversely affect the Project?s compliance with HUD regulations. Questioned Costs: $77 Context/Sampling: A nonstatistical sample of eight tenant files out of the Project?s 45 total tenants residing in the Project during the year, including move-in and move-out residents, was selected for testing. Repeat Finding from Prior Year: None Recommendation: We recommend the Project review policies and procedures with applicable employees and remind them of the importance of following regulations regarding the maintenance of tenant files and the calculation of tenant rent. Form 50059 should be updated, as needed. Views of Responsible Officials: Management agrees with the finding and recommendation.
Finding 2020-002 Federal Agency Name: U.S. Department of Housing and Urban Development Program Name: Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects - Section 223f Federal Financial Assistance Listing #14.155 Finding Summary: The Project is required to maintain tenant files and calculate tenant assets and tenant income in accordance with HUD requirements. The auditors identified the following to four tenant files: ? One instance where the cost of living adjustment for 2020 was not included within the calculation of tenant income. ? Three instances where the checking account balance was calculated using the current balance rather than the six-month average balance. ? One instance where the medical expenses were not properly verified by a third party. Responsible Individuals: Lana Walter, Regional Property Manager Corrective Action Plan: We will review our current procedures with applicable employees to ensure compliance with designed control over tenant files. We will update the incorrect Form 50059, and if applicable, the corresponding assistance payments will be adjusted on the property's voucher. Anticipated Completion Date: June 30, 2021
FAC accepted this audit on April 22, 2020 — management decision was due October 22, 2020.
FAC accepted this audit on April 21, 2019 — management decision was due October 21, 2019.
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FAC accepted this audit on April 24, 2018 — management decision was due October 24, 2018.
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