EIN: 383142455
UEI: YEVHPUL56R36
Audited by: Yeo & Yeo, P.C.
Oversight agency: 14 [Department of Housing and Urban Development]
View federal awards & risk assessment →
Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 1, 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 October 1, 2026 (32 days from today).
What is a management decision? →FAC accepted this audit on April 16, 2025 — management decision was due October 16, 2025.
During our audit, we noted that the Organization had to recreate records and supporting documentation for federal transactions due to the departure of key staff members responsible for managing federal awards. Cause: The Organization lacked adequate procedures for record retention and succession planning for staff managing federal awards. When key personnel left, critical information and documentation were not readily available or properly transferred to new staff. Effect: this deficiency resulted in: 1. Significant time and resources spent recreating necessary documentation; 2. Increased risk of non-compliance with federal award requirements; 3. Potential for errors or misstatements in financial reporting related to federal awards; 4. Delays in the audit process. Recommendation: We recommend that the Organization: 1. Implement a comprehensive record retention policy specific to federal award management; 2. Develop and maintain detailed procedure manuals for federal award processes; 3. Establish a formal succession planning process for key positions, including cross-training of staff; 4. Consider implementing a document management system to centralize and secure critical records. Auditee Response: Management concurs with the finding and is committed to improving its record retention practices and succession planning for federal award management and has taken steps under its new leadership team to address these issues.
Show full finding ▾Hide full finding ▴Criteria: Proper internal controls and compliance with federal regulations require the maintenance of accurate and complete records to support federal award transactions. Additionally, effective succession planning is necessary to ensure continuity of operations and knowledge transfer. Condition: During our audit, we noted that the Organization had to recreate records and supporting documentation for federal transactions due to the departure of key staff members responsible for managing federal awards. Cause: The Organization lacked adequate procedures for record retention and succession planning for staff managing federal awards. When key personnel left, critical information and documentation were not readily available or properly transferred to new staff. Effect: this deficiency resulted in: 1. Significant time and resources spent recreating necessary documentation; 2. Increased risk of non-compliance with federal award requirements; 3. Potential for errors or misstatements in financial reporting related to federal awards; 4. Delays in the audit process. Recommendation: We recommend that the Organization: 1. Implement a comprehensive record retention policy specific to federal award management; 2. Develop and maintain detailed procedure manuals for federal award processes; 3. Establish a formal succession planning process for key positions, including cross-training of staff; 4. Consider implementing a document management system to centralize and secure critical records. Auditee Response: Management concurs with the finding and is committed to improving its record retention practices and succession planning for federal award management and has taken steps under its new leadership team to address these issues.
Management concurs with the finding and has initiated immediate steps to strengthen record retention and succession planning for federal award management. A key element of our response is the engagement of RDM Associates, our outsourced accounting provider, to ensure compliance with federal regulations and establish robust processes. To address this finding, the following actions are underway: By June 30, 2025, management, with the expertise of RDM Associates, will implement a comprehensive record retention policy tailored to federal award management. This policy will outline retention periods, storage protocols, and access requirements, ensuring all documentation is systematically organized and readily available. For fiscal year 2025, RDM Associates is assisting in the creation and retention of adequate reconciling schedules to support all grant draw requests, aligning our processes with federal compliance standards. RDM Associates is also supporting the development of detailed procedure manuals for federal award processes and the implementation of a document management system to centralize and secure critical records. These efforts will mitigate the risks associated with staff turnover and ensure continuity of operations. By June 30, 2025, management will formalize a succession planning process for key positions involved in federal award management, incorporating cross-training of staff under the guidance of RDM Associates to facilitate knowledge transfer and operational resilience. The transition to RDM Associates as our outsourced accounting provider addresses the root causes of this finding by bringing specialized expertise and structured processes to our federal award management. We are confident that these actions will result in sustainable improvements and full compliance with federal requirements. Anticipated completion date for these initiatives is June 30, 2025.
FAC accepted this audit on February 2, 2024 — management decision was due August 2, 2024.
FAC accepted this audit on November 3, 2019 — management decision was due May 3, 2020.
FAC accepted this audit on October 7, 2018 — management decision was due April 7, 2019.
FAC accepted this audit on October 18, 2017 — management decision was due April 18, 2018.
FAC accepted this audit on February 22, 2017 — management decision was due August 22, 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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