PRESBYTERIAN VILLAGE OF HOLLY PHASE II

EIN: 383277536

UEI: MHSQDJE6M5D5

Data as of August 25, 2026

PRESBYTERIAN VILLAGE OF HOLLY PHASE II10 audit years1 findings
10
Audit Years
1
Total Findings
0
Repeat Findings

FY 2025-06-30

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on December 30, 2025. 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 June 30, 2026 (57 days ago).

What is a management decision? →
2025-001
Special Tests & Provisions

Finding Type - Immaterial noncompliance with major program requirements - Significant deficiency in internal control over compliance Title and Assistance Listing Number of Federal Program - 14.157 Supportive Housing for the Elderly - Project Rental Assistance Contract and Capital Advance Finding Resolution Status - None Information on Universe and Population Size - Required deposits of surplus cash into the residual receipts reserve Sample Size Information - The entire population of one deposit was tested. Identification of Repeat Finding and Finding Reference Number - N/A Criteria - The Organization should deposit surplus cash within the time frame specified in the FRAG Guide. Statement of Condition - The Organization deposited prior year surplus cash five days after the deadline stated in the Real Estate Assessment Center’s Summary of Financial Reporting and Auditing Guidance for HUD (FRAG Guide) under Section 2.8. Cause - The Organization failed to monitor the cash requirements of the residual receipts account specified by the FRAG Guide. Effect or Potential Effect - The residual receipts account was not funded in accordance with the FRAG Guide. Auditor Noncompliance Code - B - Failure to make required residual receipt deposits Recommendation - Surplus cash deposit amounts should be deposited within the specified time frame required by the FRAG Guide. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations - Management should deposit surplus cash within the time frame required by the FRAG Guide. Response Indicator - None Completion Date - October 7, 2024 Response - Management acknowledges noncompliance in the current fiscal year and has taken measures to improve internal controls over compliance. Management deposited the surplus cash amount of $8,731 into residual receipts on October 7, 2024.

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Full finding narrative

Finding Type - Immaterial noncompliance with major program requirements - Significant deficiency in internal control over compliance Title and Assistance Listing Number of Federal Program - 14.157 Supportive Housing for the Elderly - Project Rental Assistance Contract and Capital Advance Finding Resolution Status - None Information on Universe and Population Size - Required deposits of surplus cash into the residual receipts reserve Sample Size Information - The entire population of one deposit was tested. Identification of Repeat Finding and Finding Reference Number - N/A Criteria - The Organization should deposit surplus cash within the time frame specified in the FRAG Guide. Statement of Condition - The Organization deposited prior year surplus cash five days after the deadline stated in the Real Estate Assessment Center’s Summary of Financial Reporting and Auditing Guidance for HUD (FRAG Guide) under Section 2.8. Cause - The Organization failed to monitor the cash requirements of the residual receipts account specified by the FRAG Guide. Effect or Potential Effect - The residual receipts account was not funded in accordance with the FRAG Guide. Auditor Noncompliance Code - B - Failure to make required residual receipt deposits Recommendation - Surplus cash deposit amounts should be deposited within the specified time frame required by the FRAG Guide. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations - Management should deposit surplus cash within the time frame required by the FRAG Guide. Response Indicator - None Completion Date - October 7, 2024 Response - Management acknowledges noncompliance in the current fiscal year and has taken measures to improve internal controls over compliance. Management deposited the surplus cash amount of $8,731 into residual receipts on October 7, 2024.

Corrective Action Plan

Finding Number: 2025-001 Condition: The Organization deposited prior year surplus cash seven days after the deadline stated in the Real Estate Assessment Center’s Summary of Financial Reporting and Auditing Guidance for HUD (FRAG Guide) under Section 2.8. Planned Corrective Action: Management has acknowledged noncompliance in the current fiscal year and has taken measures to improve internal controls over compliance. Management deposited the surplus cash amount of $8,731 into residual receipts on October 7, 2024. Contact person responsible for corrective action: Tyler Luce Anticipated Completion Date: October 7, 2024

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