EIN: 470528366
UEI: D1EMUNF38TL1
Audited by: Core CPAs
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 February 25, 2025. 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 25, 2025 (374 days ago).
What is a management decision? →FAC accepted this audit on February 14, 2024 — management decision was due August 14, 2024.
FAC accepted this audit on February 15, 2023 — management decision was due August 15, 2023.
FAC accepted this audit on February 2, 2022 — management decision was due August 2, 2022.
The Authority and its depository did not properly collateralize the Authority?s deposits in accordance with PIH Notice 96-33. Context: The Authority and its depository were not fully aware of the limited options available to collateralize the Authority?s deposits. Effect: The Authority was in a pooled collateral program in which unallowed securities were part of the pool. Cause: The Authority and its depository were not fully aware of the limitations to the single bank pooled collateral program to collateralize the Authority?s deposits. Recommendation: The Executive Director should familiarize herself with the regulations of appropriate collateralization of deposits and work with their depository to ensure compliance with PIH Notice 96-33. Auditee Response/Corrective Action Plan: See page 38. III. FEDERAL AWARDS FINDINGS FINDING 2021-001: Material Noncompliance with Regulations ? Failure to Maintain Appropriate Collateralized Deposits Federal Program: ALN 14.871 ? Section 8 Housing Choice Vouchers Pass-Through Entity: U.S. Department of Housing and Urban Development Award Number: N/A Compliance Requirements: Special Tests and Provisions Type of Finding: Material Noncompliance Criteria: See Part II, Finding 2021-001 Condition and Context: See Part II, Finding 2021-001 Questioned Costs: N/A Cause: See Part II, Finding 2021-001 Effect or Potential Effect: See Part II, Finding 2021-001 Recommendation: See Part II, Finding 2021-001 Repeat Finding: N/A Responsible Official?s Response and Corrective Action Plan: See Page 38, Finding 2021-001 Implementation Date: See Page 38, Finding 2021-001 Person Responsible For Corrective Action: Executive Director
Show full finding ▾Hide full finding ▴II. FINANCIAL STATEMENT FINDINGS FINDING 2021-001: Material Noncompliance with Regulations ? Failure to Maintain Appropriate Collateralized Deposits Criteria: In accordance with PIH Notice 96-33: The Annual Contributions Contract (ACC) requires the Authority to deposit and invest all program funds for projects under an ACC in accordance with the terms of a General Depository Agreement. The General Depository Agreement must be in a form approved by HUD and is executed between the HA and the depository. In addition, the ACC requires the HA to invest General Fund (program) monies only in HUD approved investments. The Authority shall require their depositories and fully (100%) secure all deposits regardless of type (i.e. regular, savings, etc.) that are in excess of the $100,000 insured amount. This may be accomplished by the pledging or setting aside collateral of identifiable U.S. Government securities as prescribed by HUD. The HA has 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 wire contract) and will be maintained for the full term of the deposit. Such securities shall be owned by the depository and the manner of collateralization shall provide the HA with a continuing perfected security interest for the full term of the deposit in the collateral in accordance with applicable laws and Federal regulations. Such collateral shall, at all times, have a market value at least equal to the amount of the deposits so secured. Condition: The Authority and its depository did not properly collateralize the Authority?s deposits in accordance with PIH Notice 96-33. Context: The Authority and its depository were not fully aware of the limited options available to collateralize the Authority?s deposits. Effect: The Authority was in a pooled collateral program in which unallowed securities were part of the pool. Cause: The Authority and its depository were not fully aware of the limitations to the single bank pooled collateral program to collateralize the Authority?s deposits. Recommendation: The Executive Director should familiarize herself with the regulations of appropriate collateralization of deposits and work with their depository to ensure compliance with PIH Notice 96-33. Auditee Response/Corrective Action Plan: See page 38. III. FEDERAL AWARDS FINDINGS FINDING 2021-001: Material Noncompliance with Regulations ? Failure to Maintain Appropriate Collateralized Deposits Federal Program: ALN 14.871 ? Section 8 Housing Choice Vouchers Pass-Through Entity: U.S. Department of Housing and Urban Development Award Number: N/A Compliance Requirements: Special Tests and Provisions Type of Finding: Material Noncompliance Criteria: See Part II, Finding 2021-001 Condition and Context: See Part II, Finding 2021-001 Questioned Costs: N/A Cause: See Part II, Finding 2021-001 Effect or Potential Effect: See Part II, Finding 2021-001 Recommendation: See Part II, Finding 2021-001 Repeat Finding: N/A Responsible Official?s Response and Corrective Action Plan: See Page 38, Finding 2021-001 Implementation Date: See Page 38, Finding 2021-001 Person Responsible For Corrective Action: Executive Director
Corrective Action Plan Contact Person: Bonnie McPhillips 2554 40th Avenue Columbus, NE 68601 (402) 564-1131 Finding 2021-001 On Friday, January 14th,2022 which was the day after our on-site audit with Lutz, we were informed by the auditor that Columbus Housing Authority was not in compliance with the requirements of HUD approved investments per PIH 93-33 by joining the Single Bank Pooled Collateral Program back in January 2021. The Executive Director immediately took action on Tuesday, January 18th, 2022, and removed our participation in the Single Bank Pooled Collateral program with our local bank, Columbus Bank & Trust. On January 18th, 2022, Columbus Bank and Trust immediately pledged $500,000 FHLB Bond to get us in compliance. The Columbus Housing Authority Board of Commissioners addressed this at their very next board meeting, which was January 24th, 2022, and passed a motion ratifying the action taken by the Executive Director.
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