EIN: 521302828
UEI: ZCELXJEJLBP8
Audited by: Brown Edwards & Company, LLP
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 December 30, 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 June 30, 2026 (62 days ago).
What is a management decision? →Security deposits are required to be refunded within 30 days of tenant’s move-out date in the appropriate amount. For one item out of two tested, we noted that a tenant moved out and did not receive their security deposit refund timely. The tenant moved out December 31, 2024, and the refund was not issued until February 17, 2025.
Show full finding ▾Hide full finding ▴Security deposits are required to be refunded within 30 days of tenant’s move-out date in the appropriate amount. For one item out of two tested, we noted that a tenant moved out and did not receive their security deposit refund timely. The tenant moved out December 31, 2024, and the refund was not issued until February 17, 2025.
Management will take steps to remind the on-site property manager of the requirement and to ensure refunds are completed within a 30 day period.
2024-001
FAC accepted this audit on September 17, 2024 — management decision was due March 17, 2025.
Section 223(f) HUD Insured Mortgage – CFDA 14.155 (Special Tests and Provisions)Conditions and Criteria: Security deposits are required to be refunded within 30 days of tenant’s move-out date in the appropriate amount. For two items out of two tested, we noted that a tenant moved out and did not receive their security deposit refund timely. One tenant moved out December 19, 2023 and the refund was not issued until March 20, 2024. The second tenant moved out May 30, 2024, and their refund has not been issued as of the date of the audit report.Effect: The tenants did not receive their security deposit refund within 30 days of move-out.Cause: This occurred due to oversight at the property level.Auditors Recommendation: We recommend that security deposit refunds are given out timely and returned within 30 days of move-out.Management’s Response: Management has implemented steps to ensure that future security deposit refunds are made within the 30-day requirement.
Show full finding ▾Hide full finding ▴Section 223(f) HUD Insured Mortgage – CFDA 14.155 (Special Tests and Provisions)Conditions and Criteria: Security deposits are required to be refunded within 30 days of tenant’s move-out date in the appropriate amount. For two items out of two tested, we noted that a tenant moved out and did not receive their security deposit refund timely. One tenant moved out December 19, 2023 and the refund was not issued until March 20, 2024. The second tenant moved out May 30, 2024, and their refund has not been issued as of the date of the audit report.Effect: The tenants did not receive their security deposit refund within 30 days of move-out.Cause: This occurred due to oversight at the property level.Auditors Recommendation: We recommend that security deposit refunds are given out timely and returned within 30 days of move-out.Management’s Response: Management has implemented steps to ensure that future security deposit refunds are made within the 30-day requirement.
Management will take steps to remind the on-site property manager of the requirement and to ensure refunds are completed within the 30-day period.
2023-001
FAC accepted this audit on October 27, 2023 — management decision was due April 27, 2024.
Conditions and Criteria: Security deposits are required to be refunded within 30 days of tenant’s move-out date in the appropriate amount. For one item out of two tested, we noted that a tenant moved out April 1, 2023 and the refund was not issued until September 15, 2023. Effect: The tenant did not receive their security deposit refund within 30 days of move-out. Cause: This occurred due to oversight at the property level. Auditors Recommendation: While the refund was given, we do however, recommend that security deposit refunds be returned within 30 days of move-out. Management’s Response: Management has implemented steps to ensure that future security deposit refunds are made within the 30-day requirement.
Show full finding ▾Hide full finding ▴Conditions and Criteria: Security deposits are required to be refunded within 30 days of tenant’s move-out date in the appropriate amount. For one item out of two tested, we noted that a tenant moved out April 1, 2023 and the refund was not issued until September 15, 2023. Effect: The tenant did not receive their security deposit refund within 30 days of move-out. Cause: This occurred due to oversight at the property level. Auditors Recommendation: While the refund was given, we do however, recommend that security deposit refunds be returned within 30 days of move-out. Management’s Response: Management has implemented steps to ensure that future security deposit refunds are made within the 30-day requirement.
Management has implemented steps to ensure that future security deposit refunds are made within the 30-day requirement.
FAC accepted this audit on November 2, 2022 — management decision was due May 2, 2023.
FAC accepted this audit on September 29, 2021 — management decision was due March 29, 2022.
FAC accepted this audit on October 21, 2020 — management decision was due April 21, 2021.
Section 223(f) HUD Insured Mortgage ? CFDA 14.155 (Special Tests and Provisions) Conditions and Criteria: The Corporation is required to make monthly deposits to the Replacement Reserve in an amount determined by HUD. We noted that the required monthly deposit increased from $4,343 to $4,436 effective August 1, 2019. While the property made monthly deposits, we noted the old payment was made in error for the audit period. Effect: As of June 30, 2020, the Replacement Reserve was underfunded by $1,023. Cause: This occurred due to an error on the billing statement received from the mortgagor. Auditor?s Recommendation: We recommend that the required monthly deposits to the Replacement Reserve be made timely and accurately. Management?s Response: The additional funds were remitted to the replacement reserve.
Show full finding ▾Hide full finding ▴Section 223(f) HUD Insured Mortgage ? CFDA 14.155 (Special Tests and Provisions) Conditions and Criteria: The Corporation is required to make monthly deposits to the Replacement Reserve in an amount determined by HUD. We noted that the required monthly deposit increased from $4,343 to $4,436 effective August 1, 2019. While the property made monthly deposits, we noted the old payment was made in error for the audit period. Effect: As of June 30, 2020, the Replacement Reserve was underfunded by $1,023. Cause: This occurred due to an error on the billing statement received from the mortgagor. Auditor?s Recommendation: We recommend that the required monthly deposits to the Replacement Reserve be made timely and accurately. Management?s Response: The additional funds were remitted to the replacement reserve.
I.C. Corporation, T/A Seton Manor respectfully submits the following corrective action plan for the year ended June 30, 2020 The finding from the June 30, 2020 schedule of findings and questioned costs is discussed below. Identifying Number: Section 223(f) HUD Insured Mortgage - CFDA 14.155 (Special Tests and Provisions) Finding: 2020-001 The Corporation is required to make monthly deposits to the Replacement Reserve in an amount determined by HUD. We noted that the required monthly deposit increased from $4,343 to $4,436 effective August 1, 2019. While the property made monthly deposits, we noted the old payment was made in error for the audit period. As of June 30, 2020, the Replacement Reserve was underfunded by $1,023. Corrective Action Taken or Planned: The issue has been resolved subsequent to year end.
FAC accepted this audit on October 8, 2018 — management decision was due April 8, 2019.
GSA_MIGRATION
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GSA_MIGRATION
FAC accepted this audit on September 20, 2017 — management decision was due March 20, 2018.
FAC accepted this audit on October 10, 2016 — management decision was due April 10, 2017.
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