EIN: 390868849
UEI: SFYVNW1W3KR5
Data as of August 26, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 6, 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 September 6, 2023 (1085 days ago).
What is a management decision? →The Organization is required to have a reserve account and set aside $9,817 each month until they have accumulated sum of $1,177,968. It was noted during review of the reserve account that the required monthly deposits were not made and as September 30, 2022 and the reserve account was underfunded by $28,157. Criteria: The OMB Compliance Supplement indicates a compliance requirement that the organization maintain the reserve account in accordance with the loan resolution. Cause: Management oversight. Effect: The Organization is not in compliance with federal regulations surrounding the Community Facilities Loans and Grants. Recommendation: We recommend management and those charged with governance continue to monitor the debt reserve account.
Show full finding ▾Hide full finding ▴Finding 2022.002 Reserve Account Condition: The Organization is required to have a reserve account and set aside $9,817 each month until they have accumulated sum of $1,177,968. It was noted during review of the reserve account that the required monthly deposits were not made and as September 30, 2022 and the reserve account was underfunded by $28,157. Criteria: The OMB Compliance Supplement indicates a compliance requirement that the organization maintain the reserve account in accordance with the loan resolution. Cause: Management oversight. Effect: The Organization is not in compliance with federal regulations surrounding the Community Facilities Loans and Grants. Recommendation: We recommend management and those charged with governance continue to monitor the debt reserve account.
Management had identified the issue internally and made a deposit in November 2022 to fund the account to the required level. Management is also continuing to deposit the required funds into the debt reserve.
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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