EIN: 522028130
UEI: TRW6KEV39MG9
Audited by: CohnReznick LLP
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 September 4, 2024. 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 March 4, 2025 (548 days ago).
What is a management decision? →FAC accepted this audit on November 20, 2023 — management decision was due May 20, 2024.
FAC accepted this audit on October 24, 2022 — management decision was due April 24, 2023.
FAC accepted this audit on October 27, 2021 — management decision was due April 27, 2022.
Statement of Condition During the year ended June 30, 2021, the project did not make the required project rental assistance reimbursement deposit to the replacement reserve in the amount of $63,588. Criteria - Special tests and provisions The HUD replacement reserve withdrawal approval letter required that the project reimburse the replacement reserve for the funds withdrawn upon receipt of the project rental assistance funds on September 25, 2020. Effect Failure to make required reimbursement deposit resulted in an underfunding of the replacement reserve and a violation of the project rental assistance contract. Cause The project did not make the required deposit once project rental assistance funds were received. Recommendation Management should transfer funds of $63,588 from the operating account once funding becomes available. Auditor Noncompliance Code: N - Reserve for replacements deposits Finding Resolution Status: Resolved Views of Responsible Officials and Planned Corrective Actions The $63,588 was deposited to the replacement reserve on August 19, 2021. The failure to return the funds to the replacement reserve was an oversight that Management considers an isolated incident as timely reimbursement for HAP borrowings on other properties were made during the fiscal year. Management has implemented a tracking schedule to ensure reimbursement is not overlooked in the future.
Show full finding ▾Hide full finding ▴Statement of Condition During the year ended June 30, 2021, the project did not make the required project rental assistance reimbursement deposit to the replacement reserve in the amount of $63,588. Criteria - Special tests and provisions The HUD replacement reserve withdrawal approval letter required that the project reimburse the replacement reserve for the funds withdrawn upon receipt of the project rental assistance funds on September 25, 2020. Effect Failure to make required reimbursement deposit resulted in an underfunding of the replacement reserve and a violation of the project rental assistance contract. Cause The project did not make the required deposit once project rental assistance funds were received. Recommendation Management should transfer funds of $63,588 from the operating account once funding becomes available. Auditor Noncompliance Code: N - Reserve for replacements deposits Finding Resolution Status: Resolved Views of Responsible Officials and Planned Corrective Actions The $63,588 was deposited to the replacement reserve on August 19, 2021. The failure to return the funds to the replacement reserve was an oversight that Management considers an isolated incident as timely reimbursement for HAP borrowings on other properties were made during the fiscal year. Management has implemented a tracking schedule to ensure reimbursement is not overlooked in the future.
Comments on the Finding and Each Recommendation Management agrees that the funds borrowed in August 2020 for the July 2020 and August 2020 HAP payments were not reimbursed to the replacement reserve after the HAP payments were received in September 2020 and that $63,588 need to be deposited to the replacement reserve. Action(s) Taken or Planned on the Finding The $63,588 was deposited to the replacement reserve on August 19, 2021. The failure to return the funds to the replacement reserve was an oversight that Management considers and isolated incident as timely reimbursement for HAP borrowings on other properties were made during the fiscal year. Management has implemented a tracking schedule to ensure reimbursement is not overlooked in the future.
Statement of Condition During the year ended June 30, 2021, the project paid expenses in the amount of $1,900 on behalf of an affiliate from project cash without HUD approval. The amount due to the project as of June 30, 2021 is $1,900. Criteria - Activities allowed or unallowed and allowable costs/cost principles Loans are not permitted to be made from project cash without prior authorization from HUD. Questioned Costs $1,900 Effect The payment of $1,900 was an unauthorized loan and therefore considered to be a questioned cost. Cause Procedures were not in place to ensure that cash disbursements of project funds were limited to project operating costs. Recommendation Management should immediately reimburse the amount due to the project and establish procedures to ensure payments of this nature are not made in the future. Auditor Noncompliance Code: G - Unauthorized loans from project assets Finding Resolution Status: Resolved Views of Responsible Officials and Planned Corrective Actions The $1,900 was received from the affiliated project and deposited on August 6, 2021. The invoice that was errantly processed and paid was billed to the wrong project name by the vendor. The invoice was processed and approved to the incorrect entity. Accounts payable procedures dictate that the property personnel and management personnel processing and approving invoices have an awareness of what costs have been incurred for the project. Site personnel are to verify that invoices are billed to the correct project, that the work is complete and that this invoice is for the right amount. Management personnel are to review the invoice and only approve if correct. The site and management personnel will be more diligent to ensure the procedures are followed.
Show full finding ▾Hide full finding ▴Statement of Condition During the year ended June 30, 2021, the project paid expenses in the amount of $1,900 on behalf of an affiliate from project cash without HUD approval. The amount due to the project as of June 30, 2021 is $1,900. Criteria - Activities allowed or unallowed and allowable costs/cost principles Loans are not permitted to be made from project cash without prior authorization from HUD. Questioned Costs $1,900 Effect The payment of $1,900 was an unauthorized loan and therefore considered to be a questioned cost. Cause Procedures were not in place to ensure that cash disbursements of project funds were limited to project operating costs. Recommendation Management should immediately reimburse the amount due to the project and establish procedures to ensure payments of this nature are not made in the future. Auditor Noncompliance Code: G - Unauthorized loans from project assets Finding Resolution Status: Resolved Views of Responsible Officials and Planned Corrective Actions The $1,900 was received from the affiliated project and deposited on August 6, 2021. The invoice that was errantly processed and paid was billed to the wrong project name by the vendor. The invoice was processed and approved to the incorrect entity. Accounts payable procedures dictate that the property personnel and management personnel processing and approving invoices have an awareness of what costs have been incurred for the project. Site personnel are to verify that invoices are billed to the correct project, that the work is complete and that this invoice is for the right amount. Management personnel are to review the invoice and only approve if correct. The site and management personnel will be more diligent to ensure the procedures are followed.
Comments on the Finding and Each Recommendation Management agrees that an invoice for an affiliated project was errantly processed and paid. Management agrees that reimbursement needs to be received from the affiliated entity and that procedures for processing invoices need to be strictly followed. Action(s) Taken or Planned on the Finding The $1,900 was received from the affiliated project and deposited on August 6, 2021. The invoice that was errantly processed and paid was billed to the wrong project name by the vendor. The invoice was processed and approved to the incorrect entity. Accounts payable procedure dictates that the property personnel and management personnel processing and approving invoices have an awareness of what costs have been incurred for the project. Site personnel are to verify that invoices are billed to the correct project, that the work is complete and that this invoice is for the right amount. Management personnel are to review the invoice and only approve if correct. The site and management personnel will be more diligent to ensure the procedure is followed.
FAC accepted this audit on October 25, 2020 — management decision was due April 25, 2021.
FAC accepted this audit on October 22, 2019 — management decision was due April 22, 2020.
FAC accepted this audit on October 18, 2018 — management decision was due April 18, 2019.
FAC accepted this audit on October 10, 2017 — management decision was due April 10, 2018.
FAC accepted this audit on February 1, 2017 — management decision was due August 1, 2017.
GSA_MIGRATION
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GSA_MIGRATION
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