EIN: 386146351
UEI: JG2PR914YQJ6
Audited by: Maner Costerisan
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on February 2, 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 August 2, 2026 (39 days ago).
What is a management decision? →FAC accepted this audit on July 11, 2025 — management decision was due January 11, 2026.
The Project did not make the required residual receipt deposits in the amount $153,970 for the year ending June 30, 2023. Criteria: Project management is responsible for depositing funds into the residual receipts account when a surplus cash amount is calculated within 90 days after the close of the fiscal year. Effect: The surplus cash amount was not deposit therefore making the balance in the residual receipts account understated and not correctly showing amount subject to HUD recapture. Cause: Procedures to deposit surplus cash into the residual receipts account were not followed. Recommendation: The Project should deposit $153,970 into the residual receipts account. Additionally, procedures should be followed to ensure management identifies the need for required deposits. Auditor noncompliance code: B - Failure to make required residual receipts deposits.
Show full finding ▾Hide full finding ▴Finding Number 2024-001: Significant Deficiency in Internal Control over Major Federal Program Compliance: Special Tests and Provisions - Residual Receipts Requirements Federal Program: U.S. Department of Housing and Urban Development ALN 14.155 - Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects Condition: The Project did not make the required residual receipt deposits in the amount $153,970 for the year ending June 30, 2023. Criteria: Project management is responsible for depositing funds into the residual receipts account when a surplus cash amount is calculated within 90 days after the close of the fiscal year. Effect: The surplus cash amount was not deposit therefore making the balance in the residual receipts account understated and not correctly showing amount subject to HUD recapture. Cause: Procedures to deposit surplus cash into the residual receipts account were not followed. Recommendation: The Project should deposit $153,970 into the residual receipts account. Additionally, procedures should be followed to ensure management identifies the need for required deposits. Auditor noncompliance code: B - Failure to make required residual receipts deposits.
U.S. Department of Housing and Urban Development Capitol Grange Senior CItizen's Housing Corporation (Phase I) respecfully submits the following corrective action plan for the year ended June 30, 2024. Name and address of independent public accounting firm: Maner Costersan, P.C. 2425 E. Grand River Ave., Suite 1 Lansing, MI 48912 Audit period: July 1, 2023 - June 30, 2024 The finding from the June 30, 2024 schedule of findings and questioned costgs is discussed below. The finding is numbered consistent with the number assigned in the schedule. Finding Number 2024-001 - Significant Deficienc;y in Internal Control of Major Federal Program Compliance: Special Tests and Provisions - Residual Receipts Requirements Recommendation: The Project should deposit $153,970 into the residual receipts account. Additionally, procedures should be followed to ensure management identifies the need for required deposits. Action Taken: The Project has deposited the underfunded amount and will review annnual audits to identify the required residual reciept funding amounts.
FAC accepted this audit on October 31, 2023 — management decision was due May 1, 2024.
FAC accepted this audit on January 3, 2023 — management decision was due July 3, 2023.
FAC accepted this audit on September 30, 2021 — management decision was due March 30, 2022.
FAC accepted this audit on September 30, 2021 — management decision was due March 30, 2022.
FAC accepted this audit on October 24, 2019 — management decision was due April 24, 2020.
The project did not make the required residual receipt deposits in the amount $105,196 for the year ending June 30, 2019. Criteria: Partnership management is responsible for depositing funds into the residual receipts account when a surplus cash amount is calculated within 90 days after the close of the fiscal year. Effect: The surplus cash amount was not deposit therefore making the balance in the residual receipts account understated and not correctly showing amount subject to HUD recapture. Cause: Procedures to deposit surplus cash into the residual receipts account were not followed. Recommendation: The Corporation should deposit $105,196 into the residual receipts account. Additionally, procedures should be followed to ensure partnership management identifies the need for required deposits. Auditor noncompliance code: B - Failure to make required residual receipts deposits.
Show full finding ▾Hide full finding ▴Finding 2019-001 Considered a significant deficiency in internal control over Federal Award compliance and program noncompliance Condition: The project did not make the required residual receipt deposits in the amount $105,196 for the year ending June 30, 2019. Criteria: Partnership management is responsible for depositing funds into the residual receipts account when a surplus cash amount is calculated within 90 days after the close of the fiscal year. Effect: The surplus cash amount was not deposit therefore making the balance in the residual receipts account understated and not correctly showing amount subject to HUD recapture. Cause: Procedures to deposit surplus cash into the residual receipts account were not followed. Recommendation: The Corporation should deposit $105,196 into the residual receipts account. Additionally, procedures should be followed to ensure partnership management identifies the need for required deposits. Auditor noncompliance code: B - Failure to make required residual receipts deposits.
Action to be taken: The Corporation deposited the underfunded amount and will review annual audits to identify required residual receipt funding amounts.
FAC accepted this audit on October 4, 2018 — management decision was due April 4, 2019.
FAC accepted this audit on April 1, 2018 — management decision was due October 1, 2018.
FAC accepted this audit on April 1, 2018 — management decision was due October 1, 2018.
FAC accepted this audit on April 9, 2017 — management decision was due October 9, 2017.
FAC accepted this audit on April 10, 2017 — management decision was due October 10, 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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