EIN: 421534169
UEI: CPVWZ9KDDCJ4
Data as of August 23, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 10, 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 October 10, 2023 (1049 days ago).
What is a management decision? →Surplus cash generated at the end of fiscal year December 31, 2021 in the amount of $4,812 was not remitted to the residual receipts account within the required timeframe. The replacement reserve account requires a monthly deposit of $500 to be made. At the end of fiscal year December 31, 2022, no deposits were made. Criteria: Owners are required to remit any surplus cash generated at the end of the fiscal year to the residual receipt account within the required timeframe and to make required monthly deposits into the replacement reserve account. Cause: Due to turnover within the company, the requirement to remit the surplus cash to the residual receipts account and make the required monthly replacement reserve deposits were overlooked. Effect: The surplus cash remittance to the residual receipts account and required reserve deposits were not made in accordance with HUD guidelines. Recommendation: Policies and procedures should be reviewed to ensure timely remittance of surplus cash into the residual receipts account within the required timeframes and monthly required replacement reserve deposits are made. Views of Responsible Officials and Planned Corrective Actions: Kenwood Properties, Inc. agrees with the finding and review policies and procedures to ensure timely remittance and required deposits are made.
Show full finding ▾Hide full finding ▴Information on the Federal Program: Department of Housing and Urban Development, AL 14.181 Supportive Housing for Persons with Diabilities Questioned Costs: None How the questioned costs were computed: N/A Condition: Surplus cash generated at the end of fiscal year December 31, 2021 in the amount of $4,812 was not remitted to the residual receipts account within the required timeframe. The replacement reserve account requires a monthly deposit of $500 to be made. At the end of fiscal year December 31, 2022, no deposits were made. Criteria: Owners are required to remit any surplus cash generated at the end of the fiscal year to the residual receipt account within the required timeframe and to make required monthly deposits into the replacement reserve account. Cause: Due to turnover within the company, the requirement to remit the surplus cash to the residual receipts account and make the required monthly replacement reserve deposits were overlooked. Effect: The surplus cash remittance to the residual receipts account and required reserve deposits were not made in accordance with HUD guidelines. Recommendation: Policies and procedures should be reviewed to ensure timely remittance of surplus cash into the residual receipts account within the required timeframes and monthly required replacement reserve deposits are made. Views of Responsible Officials and Planned Corrective Actions: Kenwood Properties, Inc. agrees with the finding and review policies and procedures to ensure timely remittance and required deposits are made.
Finding 2022-001- Surplus Cash Submission and Replacement Reserve Required Deposit Corrective Action Plan A transfer of $6,000 from the operating account to the replacement reserve will be completed which was overlooked last fiscal year. Person(s) Responsible: Kerri Lentz will have Donna Lynch make this transfer. Timing for Implementation: Will have complete by April 1, 2023.
FAC accepted this audit on February 20, 2018 — management decision was due August 20, 2018.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴GSA_MIGRATION
GSA_MIGRATION
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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