EIN: 521290127
UEI: Y2NXN8RK4E94
Audited by: CohnReznick LLP
Oversight agency: 84 [Department of Education]
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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 August 11, 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 February 11, 2027 (164 days from today).
What is a management decision? →FAC accepted this audit on May 28, 2025 — management decision was due November 28, 2025.
FAC accepted this audit on June 2, 2025 — management decision was due December 2, 2025.
FAC accepted this audit on May 13, 2024 — management decision was due November 13, 2024.
We were unable to determine if internal controls were in place during 2023 to ensure FFATA reporting was performed, and subawards entered into by Reinvestment Fund, Inc. over $30,000 were not reported. Cause The Organization’s federal grant compliance controls did not address the general administrative controls over ensuring FFATA reporting is performed as required. Effect or Potential Effect: FFATA reporting was not performed timely and accurately. Questioned Costs: None Context: Reinvestment Fund, Inc. had 98 subawards that met the FFATA requirements which were not reported. The federal award identification numbers (FAIN) for the awards is pending from the USDA and is required to complete the FFATA reporting. Identification as a Repeat Finding: No Recommendation: We recommend that Reinvestment Fund, Inc. implement policies and procedures to review FFATA reporting and maintain documentation of internal controls as well as provide training to staff on FFATA reporting requirements. Views of Responsible Officials: The Organization acknowledges that we should have been filing information for all of our grantees over $30,000 on the FFATA Sub-award Reporting System website. We have a remediation plan in place to ensure that all past grantees over $30,000 are registered on the website, and we have included FFATA registration as a step in the creation of all future HFFI grantees.
Show full finding ▾Hide full finding ▴Criteria: Under the requirements of the Federal Funding Accountability and Transparency Act (Pub. L. No. 109-282), as amended by Section 6202 of Pub. L. No. 110-252, hereafter referred as the “FFATA” that are codified in 2 CFR Part 170, recipients (i.e., direct recipients) of grants or cooperative agreements are required to report first-tier subawards of $30,000 or more to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS). The subawards are required to be reported no later than the last day of the month following the month in which the subaward obligation was made or modified. Condition: We were unable to determine if internal controls were in place during 2023 to ensure FFATA reporting was performed, and subawards entered into by Reinvestment Fund, Inc. over $30,000 were not reported. Cause The Organization’s federal grant compliance controls did not address the general administrative controls over ensuring FFATA reporting is performed as required. Effect or Potential Effect: FFATA reporting was not performed timely and accurately. Questioned Costs: None Context: Reinvestment Fund, Inc. had 98 subawards that met the FFATA requirements which were not reported. The federal award identification numbers (FAIN) for the awards is pending from the USDA and is required to complete the FFATA reporting. Identification as a Repeat Finding: No Recommendation: We recommend that Reinvestment Fund, Inc. implement policies and procedures to review FFATA reporting and maintain documentation of internal controls as well as provide training to staff on FFATA reporting requirements. Views of Responsible Officials: The Organization acknowledges that we should have been filing information for all of our grantees over $30,000 on the FFATA Sub-award Reporting System website. We have a remediation plan in place to ensure that all past grantees over $30,000 are registered on the website, and we have included FFATA registration as a step in the creation of all future HFFI grantees.
Planned Corrective Action: We have a remediation plan in place to ensure that all past grantees over $30,000 are registered on the website. We are currently waiting to receive the correct FAIN numbers from the United States Department of Agriculture (USDA) for all our awards so we can file the reports correctly. Once this information is received from the USDA we are ready to submit the required reporting. We have begun reporting for the few FAIN numbers we have that seem to be correct. We have also included FFATA registration as a step in our grants compliance process for the creation of all future HFFI grantees to prevent this finding from re-occurring. Completion date: May 2, 2024 Name of Contact Person: Sara Vernon Sterman, Chief Program Officer
FAC accepted this audit on July 8, 2024 — management decision was due January 8, 2025.
We were unable to determine if internal controls were in place during 2023 to ensure FFATA reporting was performed, and subawards entered into by Reinvestment Fund, Inc. over $30,000 were not reported. Cause The Organization’s federal grant compliance controls did not address the general administrative controls over ensuring FFATA reporting is performed as required. Effect or Potential Effect: FFATA reporting was not performed timely and accurately. Questioned Costs: None Context: Reinvestment Fund, Inc. had 98 subawards that met the FFATA requirements which were not reported. The federal award identification numbers (FAIN) for the awards is pending from the USDA and is required to complete the FFATA reporting. Identification as a Repeat Finding: No Recommendation: We recommend that Reinvestment Fund, Inc. implement policies and procedures to review FFATA reporting and maintain documentation of internal controls as well as provide training to staff on FFATA reporting requirements. Views of Responsible Officials: The Organization acknowledges that we should have been filing information for all of our grantees over $30,000 on the FFATA Sub-award Reporting System website. We have a remediation plan in place to ensure that all past grantees over $30,000 are registered on the website, and we have included FFATA registration as a step in the creation of all future HFFI grantees.
Show full finding ▾Hide full finding ▴Criteria: Under the requirements of the Federal Funding Accountability and Transparency Act (Pub. L. No. 109-282), as amended by Section 6202 of Pub. L. No. 110-252, hereafter referred as the “FFATA” that are codified in 2 CFR Part 170, recipients (i.e., direct recipients) of grants or cooperative agreements are required to report first-tier subawards of $30,000 or more to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS). The subawards are required to be reported no later than the last day of the month following the month in which the subaward obligation was made or modified. Condition: We were unable to determine if internal controls were in place during 2023 to ensure FFATA reporting was performed, and subawards entered into by Reinvestment Fund, Inc. over $30,000 were not reported. Cause The Organization’s federal grant compliance controls did not address the general administrative controls over ensuring FFATA reporting is performed as required. Effect or Potential Effect: FFATA reporting was not performed timely and accurately. Questioned Costs: None Context: Reinvestment Fund, Inc. had 98 subawards that met the FFATA requirements which were not reported. The federal award identification numbers (FAIN) for the awards is pending from the USDA and is required to complete the FFATA reporting. Identification as a Repeat Finding: No Recommendation: We recommend that Reinvestment Fund, Inc. implement policies and procedures to review FFATA reporting and maintain documentation of internal controls as well as provide training to staff on FFATA reporting requirements. Views of Responsible Officials: The Organization acknowledges that we should have been filing information for all of our grantees over $30,000 on the FFATA Sub-award Reporting System website. We have a remediation plan in place to ensure that all past grantees over $30,000 are registered on the website, and we have included FFATA registration as a step in the creation of all future HFFI grantees.
Planned Corrective Action: We have a remediation plan in place to ensure that all past grantees over $30,000 are registered on the website. We are currently waiting to receive the correct FAIN numbers from the United States Department of Agriculture (USDA) for all our awards so we can file the reports correctly. Once this information is received from the USDA we are ready to submit the required reporting. We have begun reporting for the few FAIN numbers we have that seem to be correct. We have also included FFATA registration as a step in our grants compliance process for the creation of all future HFFI grantees to prevent this finding from re-occurring. Completion date: May 2, 2024 Name of Contact Person: Sara Vernon Sterman, Chief Program Officer
FAC accepted this audit on May 29, 2023 — management decision was due November 29, 2023.
FAC accepted this audit on May 12, 2022 — management decision was due November 12, 2022.
FAC accepted this audit on July 25, 2021 — management decision was due January 25, 2022.
FAC accepted this audit on September 17, 2020 — management decision was due March 17, 2021.
FAC accepted this audit on September 23, 2019 — management decision was due March 23, 2020.
FAC accepted this audit on September 13, 2018 — management decision was due March 13, 2019.
FAC accepted this audit on June 26, 2017 — management decision was due December 26, 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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