EIN: 464096530
UEI: TRJFD52KDXJ1
Audited by: Maddox & Associates, APC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 7, 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 July 7, 2026 (55 days ago).
What is a management decision? →THE SECURITY DEPOSIT ACCOUNT IS NOT FULLY FUNDED.
Show full finding ▾Hide full finding ▴THE SECURITY DEPOSIT ACCOUNT IS NOT FULLY FUNDED.
MANAGEMENT AGREES WITH THE FINDING. THE SECURITY DEPOSIT DEFICIENCY WILL BE FUNDED IN THE AMOUNT OF $9,992. MANAGEMENT WILL ENSURE THAT THE SECURITY DEPOSITS ARE PROPERLY FUNDED IN THE FUTURE.
2024-001
REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $2,336.
Show full finding ▾Hide full finding ▴REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $2,336.
MANAGEMENT AGREES WITH THE FINDING. THE REPLACEMENT RESERVE DEFICIENCY WILL BE FUNDED IN THE AMOUNT OF $2,336. MANAGEMENT WILL ENSURE THAT THE REPLACEMENT RESERVE DEPOSITS ARE MADE ON A TIMELY BASIS IN THE FUTURE.
FAILURE TO MAKE MORTGAGE PAYMENTS.
Show full finding ▾Hide full finding ▴FAILURE TO MAKE MORTGAGE PAYMENTS.
MANAGEMENT AGREES WITH THE FINDING. THE DELINQUENT MORTGAGE PAYMENT WILL BE PAID IN THE AMOUNT OF $8,562. MANAGEMENT WILL ENSURE THAT THE MORTGAGE PAYMENTS ARE MADE ON A TIMELY BASIS IN THE FUTURE.
FAC accepted this audit on April 21, 2025 — management decision was due October 21, 2025.
THE SECURITY DEPOSIT ACCOUNT IS NOT FULLY FUNDED.
Show full finding ▾Hide full finding ▴THE SECURITY DEPOSIT ACCOUNT IS NOT FULLY FUNDED.
MANAGEMENT AGREES WITH THE FINDING. THE SECURITY DEPOSIT DEFICIENCY WILL BE FUNDED IN THE AMOUNT OF $8,328. MANAGEMENT WILL ENSURE THAT THE SECURITY DEPOSITS ARE PROPERLY FUNDED IN THE FUTURE.
2023-001
THE PROJECT MADE UNAUTHORIZED PAYMENTS OF OWNER ADVANCES IN THE AMOUNT OF $3,000.
Show full finding ▾Hide full finding ▴THE PROJECT MADE UNAUTHORIZED PAYMENTS OF OWNER ADVANCES IN THE AMOUNT OF $3,000.
MANAGEMENT AGREES WITH THE FINDING. MANAGEMENT WILL ENSURE THAT HUD'S APPROVAL IS OBTAINED IN THE FUTURE.
FAC accepted this audit on May 21, 2024 — management decision was due November 21, 2024.
The regulatory agreement requires that the balance in the security deposit account cannot be less than the security deposit obligation.
Show full finding ▾Hide full finding ▴The regulatory agreement requires that the balance in the security deposit account cannot be less than the security deposit obligation.
Management agrees with the finding. The security deposit deficiency will be funded in the amount of $8,067. Management will ensure that the security deposits are properly funded in the future.
FAC accepted this audit on January 5, 2023 — management decision was due July 5, 2023.
FAC accepted this audit on January 16, 2022 — management decision was due July 16, 2022.
Required monthly deposits to the replacement reserve are deficient in the amount of $699. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency was funded on September 27, 2021, in the amount of $699. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $699. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency was funded on September 27, 2021, in the amount of $699. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: September 27, 2021
Show full finding ▾Hide full finding ▴Finding Reference Number: 2021-001 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: Prior year finding reference: 2020-001 Criteria: The regulatory agreement (as amended) requires monthly deposits of $2,075. Statement of Condition: Required monthly deposits to the replacement reserve are deficient in the amount of $699. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency was funded on September 27, 2021, in the amount of $699. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $699. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency was funded on September 27, 2021, in the amount of $699. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: September 27, 2021
Finding Reference Number: 2021-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The replacement reserve deficiency was funded on September 27, 2021, in the amount of $933. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Completion Date: September 27, 2021
2020-001
FAC accepted this audit on January 5, 2021 — management decision was due July 5, 2021.
Required monthly deposits to the replacement reserve are deficient in the amount of $234. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency will be funded on in the amount of $234. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $234. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency will be funded on in the amount of $234. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: November 23, 2020 Response: Management agrees with the finding. The replacement reserve deficiency will be funded on in the amount of $234. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2020-001 Type of Finding: FA Finding Resolution Status: In Process Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The regulatory agreement (as amended) requires monthly deposits of $2,032. Statement of Condition: Required monthly deposits to the replacement reserve are deficient in the amount of $234. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency will be funded on in the amount of $234. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $234. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency will be funded on in the amount of $234. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: November 23, 2020 Response: Management agrees with the finding. The replacement reserve deficiency will be funded on in the amount of $234. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.
Finding Reference Number: 2020-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The replacement reserve deficiency will be funded on in the amount of $234. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Completion Date: November 23, 2020
Surplus cash was not deposited into the Residual Receipts account. Cause: Procedures in place to ensure that the deposit is made were not followed. Effect or Potential Effect: The Residual Receipts account is deficient. Auditor Non-Compliance Code: B Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. Management has received approval from HUD to submit $20,368 of the prior year surplus cash directly toward the 202-subordinate loan. Context: Surplus cash was not deposited into the Residual Receipts account. Recommendation: Management should review its surplus cash calculation at or near year end to determine whether the project is in a surplus cash position. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. Management has received approval from HUD to submit $20,368 of the prior year surplus cash directly toward the 202-subordinate loan. Response Indicator: Agree Completion Date: November 23, 2020 Response: Management agrees with the finding. Management has received approval from HUD to submit $20,368 of the prior year surplus cash directly toward the 202-subordinate loan.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2020-002 Type of Finding: FA Finding Resolution Status: In Process Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The regulatory agreement requires the project to deposit ?surplus cash? into a Residual Receipts account with 90 days after the end of the fiscal year. Statement of Condition: Surplus cash was not deposited into the Residual Receipts account. Cause: Procedures in place to ensure that the deposit is made were not followed. Effect or Potential Effect: The Residual Receipts account is deficient. Auditor Non-Compliance Code: B Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. Management has received approval from HUD to submit $20,368 of the prior year surplus cash directly toward the 202-subordinate loan. Context: Surplus cash was not deposited into the Residual Receipts account. Recommendation: Management should review its surplus cash calculation at or near year end to determine whether the project is in a surplus cash position. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. Management has received approval from HUD to submit $20,368 of the prior year surplus cash directly toward the 202-subordinate loan. Response Indicator: Agree Completion Date: November 23, 2020 Response: Management agrees with the finding. Management has received approval from HUD to submit $20,368 of the prior year surplus cash directly toward the 202-subordinate loan.
Finding Reference Number: 2020-002 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. Management has received approval from HUD to submit $20,368 of the prior year surplus cash directly toward the 202-subordinate loan. Completion Date: November 23, 2020
Financial statements were not filed with HUD by the 90-day deadline. Cause: The owner was not able to complete its accounting process for the period until after the HUD financial statement filing deadline. Effect or Potential Effect: Financial statements were not filed with HUD. Auditor Non-Compliance Code: Z Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The financial statements were submitted to HUD. Context: Financial statements were not filed with HUD by the 90-day deadline. Recommendation: The owner should complete its accounting process on a timely basis. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The financial statements were submitted to HUD. Response Indicator: Agree Completion Date: November 23, 2020 Response: Management agrees with the finding. The financial statements were submitted to HUD March 27, 2020.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2020-003 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: Prior year finding reference: 2019-002 Criteria: The Regulatory Agreement and Project Rental Assistance Contract require audited financial statements be submitted to HUD within 60 days of the project?s fiscal year end. Uniform Financial Reporting Standards (UFRS) changed the deadline to 90 days. Statement of Condition: Financial statements were not filed with HUD by the 90-day deadline. Cause: The owner was not able to complete its accounting process for the period until after the HUD financial statement filing deadline. Effect or Potential Effect: Financial statements were not filed with HUD. Auditor Non-Compliance Code: Z Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The financial statements were submitted to HUD. Context: Financial statements were not filed with HUD by the 90-day deadline. Recommendation: The owner should complete its accounting process on a timely basis. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The financial statements were submitted to HUD. Response Indicator: Agree Completion Date: November 23, 2020 Response: Management agrees with the finding. The financial statements were submitted to HUD March 27, 2020.
Finding Reference Number: 2020-003 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The financial statements were submitted to HUD March 27, 2020. Completion Date: November 23, 2020
2019-002
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