EIN: 421084712
UEI: C7HZFPMAGJD3
Audited by: Niewedde & Wiens, CPA's
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on June 22, 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 December 22, 2026 (110 days from today).
What is a management decision? →FAC accepted this audit on July 7, 2025 — management decision was due January 7, 2026.
FAC accepted this audit on July 22, 2024 — management decision was due January 22, 2025.
FAC accepted this audit on July 30, 2023 — management decision was due January 30, 2024.
FAC accepted this audit on June 5, 2022 — management decision was due December 5, 2022.
The Authority did have the required depository agreements but was not monitoring for the collateral pledged by the bank for the deposits that exceeded the FDIC insurance. As a result, the bank had not collateralized the deposits with specific securities. Cause: The Authority did not have procedures in place to monitor that its deposits were continuously insured or collateralized. Effect or Potential Effect: The Authority was in noncompliance with HUD?s requirement to have proper depository agreements. Recommendation: The Authority should contact its financial institutions and review the depository agreement and follow the terms which includes proper collateralization. The Authority should monitor to ensure the securities pledged are adequate to cover the Authority?s deposits at the bank. View of the Responsible Officials of the Auditee: The auditee?s management agrees with the finding.
Show full finding ▾Hide full finding ▴Finding 2021-002: Deposit Collateralization Material Weakness/Noncompliance Housing Choice Voucher Program ? 14.871 Criteria: The Authority is required to enter into depository agreements with its financial institutions in the form required by HUD. The agreements serve as safeguards for federal funds and provide third-party rights to HUD. That agreement states: Any portion of HA Funds not insured by a Federal insurance organization shall be fully (100%) and continuously collateralized with specific and identifiable U.S. Government or Authority securities prescribed by HUD in a notice. Collateralization is required on a daily basis at the end of the business day. Such securities shall be pledged and set aside in accordance with applicable law or Federal regulations. The HA shall have possession of the securities (or the HA will take possession of the securities) or an independent custodian (or an independent third party) holds the securities on behalf of the HA as a bailee (evidenced by safe keeping receipt and a written bailment for hire contract) and will be maintained for the full term of deposit. Condition: The Authority did have the required depository agreements but was not monitoring for the collateral pledged by the bank for the deposits that exceeded the FDIC insurance. As a result, the bank had not collateralized the deposits with specific securities. Cause: The Authority did not have procedures in place to monitor that its deposits were continuously insured or collateralized. Effect or Potential Effect: The Authority was in noncompliance with HUD?s requirement to have proper depository agreements. Recommendation: The Authority should contact its financial institutions and review the depository agreement and follow the terms which includes proper collateralization. The Authority should monitor to ensure the securities pledged are adequate to cover the Authority?s deposits at the bank. View of the Responsible Officials of the Auditee: The auditee?s management agrees with the finding.
Finding 2021-002: We agree with the finding. We were unable to locate proper depository agreements and safeguard paperwork to support each depository agreement. We have updated HUD Form 51999 for each account and financial institution and are working with the financial institutions to get the proper paperwork for safeguarding the funds. We will have the safeguard paperwork portion completed by July 1, 2022.
FAC accepted this audit on July 5, 2021 — management decision was due January 5, 2022.
FAC accepted this audit on May 14, 2020 — management decision was due November 14, 2020.
FAC accepted this audit on July 4, 2019 — management decision was due January 4, 2020.
FAC accepted this audit on July 15, 2018 — management decision was due January 15, 2019.
GSA_MIGRATION
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GSA_MIGRATION
FAC accepted this audit on June 7, 2017 — management decision was due December 7, 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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