EIN: 516000327
UEI: WM3NN4KPKUQ1
Audited by: SB & COMPANY, LLC
Oversight agency: 14 [Department of Housing and Urban Development]
View federal awards & risk assessment →
Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on July 29, 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 January 29, 2027 (149 days from today).
What is a management decision? →FAC accepted this audit on January 8, 2025 — management decision was due July 8, 2025.
FAC accepted this audit on January 10, 2024 — management decision was due July 10, 2024.
The Authority did not record a transaction in the amount of $2.4 million during the year ended March 31, 2022 to record a loan receivable and revenue associated with a funding transaction. As a result, total assets and revenue were understated in fiscal year 2022, and the beginning net position as of April 1, 2022 needed to be restated in the fiscal year 2023 financial statements to record the transaction. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: There was inadequate interdepartmental communication within the Authority. Information regarding this transaction was not properly communicated throughout all necessary departments of the Authority. Effect: Total assets and revenue were understated in fiscal year 2022, and the beginning net position as of April 1, 2022 needed to be restated in the fiscal year 2023 financial statements to record the transaction. Questioned Costs: None. Recommendation: We recommend that this issue of lack of communication be investigated and that a solution be implemented as soon as possible. We recommend a regularly scheduled meeting of all department directors to discuss and review the recent and upcoming events in their respective areas to allow for a better flow of information between each department. Management’s Response and Corrective Action Plan Management agrees with the finding. See Schedule of Corrective Action Plan.
Show full finding ▾Hide full finding ▴Finding 2023-001 Programs: All Material Weakness over Financial Reporting Repeat Finding: No Condition: The Authority did not record a transaction in the amount of $2.4 million during the year ended March 31, 2022 to record a loan receivable and revenue associated with a funding transaction. As a result, total assets and revenue were understated in fiscal year 2022, and the beginning net position as of April 1, 2022 needed to be restated in the fiscal year 2023 financial statements to record the transaction. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: There was inadequate interdepartmental communication within the Authority. Information regarding this transaction was not properly communicated throughout all necessary departments of the Authority. Effect: Total assets and revenue were understated in fiscal year 2022, and the beginning net position as of April 1, 2022 needed to be restated in the fiscal year 2023 financial statements to record the transaction. Questioned Costs: None. Recommendation: We recommend that this issue of lack of communication be investigated and that a solution be implemented as soon as possible. We recommend a regularly scheduled meeting of all department directors to discuss and review the recent and upcoming events in their respective areas to allow for a better flow of information between each department. Management’s Response and Corrective Action Plan Management agrees with the finding. See Schedule of Corrective Action Plan.
Responsible Official’s Response and Corrective Action Plan Management has added a more experience accountant and hired a BDO Field Accountant firm to expedite processes within the Organization. Management is creating new policies and procedures and tightening internal control to address issues related to timeliness of reporting. New procedures were implemented within the fiscal year 2023. Planned Implementation Date of Corrective Action Date: 04/01/2022 Person Responsible for Corrective Action Rosemarie Bizune Title: Director of Finance
FAC accepted this audit on December 28, 2022 — management decision was due June 28, 2023.
FAC accepted this audit on June 27, 2022 — management decision was due December 27, 2022.
FAC accepted this audit on December 29, 2020 — management decision was due June 29, 2021.
FAC accepted this audit on November 19, 2019 — management decision was due May 19, 2020.
FAC accepted this audit on December 21, 2018 — management decision was due June 21, 2019.
FAC accepted this audit on December 10, 2017 — management decision was due June 10, 2018.
FAC accepted this audit on December 29, 2016 — management decision was due June 29, 2017.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴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.
Browse other Single Audit organizations in Delaware →
Track your findings and corrective action plans across audit cycles.
Start tracking findings →Monitor subrecipient audit findings and filing records.
Start monitoring →© 2026 Single Audit Intelligence. All data is public domain.
