WESTLAND ADAMS MANAGEMENT CORPORATION

EIN: 550730693

UEI: QB93ZTULJL75

Data as of August 25, 2026

WESTLAND ADAMS MANAGEMENT CORPORATION10 audit years2 findings
10
Audit Years
2
Total Findings
0
Repeat Findings

FY 2020-06-30

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on March 30, 2021. 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 September 30, 2021 (1791 days ago).

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2020-001
Special Tests & Provisions

1. SUMMARY OF AUDIT RESULTS (d)(1)(i) Type of Financial Statement Opinion Unmodified (d)(1)(ii) Were there any material weaknesses in internal control reported at the financial statement level (GAGAS)? No (d)(1)(ii) Were there any significant deficiencies in internal control reported at the financial statement level (GAGAS)? No (d)(1)(iii) Was there any reported material noncompliance at the financial statement level (GAGAS)? No (d)(1)(iv) Were there any material weaknesses in internal control reported for major federal programs? No (d)(1)(iv) Were there any significant deficiencies in internal control reported for major federal programs? Yes (d)(1)(v) Type of Major Programs? Compliance Opinion Unmodified (d)(1)(vi) Are there any reportable findings under 2 CFR ? 200.516(a)? No (d)(1)(vii) Major Programs (list): US Department of Housing and Urban Development: CFDA #14.181: Section 811 Capital Advance (d)(1)(viii) Dollar Threshold: Type A\B Programs Type A: > $ 750,000 Type B: all others (d)(1)(ix) Low Risk Auditee under 2 CFR ? 200.520? Yes 3. FINDINGS FOR FEDERAL AWARDS Finding Number 2020-001 CFDA Title and Number CFDA #14.181 Section 811 Capital Advance Loan Federal Award Year 2020 Federal Agency Department of Housing and Urban Development Compliance Requirement Residual Receipts Deposit Pass-Through Entity N/A Repeat Finding from Prior Audit No Noncompliance/Significant Deficiency Criteria: Special Tests and Provisions Residual Receipts Account Compliance Requirements: Any funds in the project funds account (including earned interest) at the end of the fiscal year shall be deposited in a federally insured account within 90 days following the end of the fiscal year. Withdrawals from this account may be made only for project purposes and with the approval of HUD (24 CFD section 891.400(e)). Context: The Project did not make a deposit to the Residual Receipts account within 90 days of the end of the fiscal year. Cause: The Project lacked proper internal controls to ensure the Residual Receipts deposit was completed within the required timeframe. Effect: The Project did not complete the Residual Receipts deposit of $10,345 until December 22, 2020. The deposit date is after the required due date of September 30, 2020. Recommendation: We recommend the Project establish a process of calculating surplus cash and making a timely deposit into the Residual Receipts account at the end of each fiscal year. Management?s Response: See Corrective Action Plan.

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Full finding narrative

1. SUMMARY OF AUDIT RESULTS (d)(1)(i) Type of Financial Statement Opinion Unmodified (d)(1)(ii) Were there any material weaknesses in internal control reported at the financial statement level (GAGAS)? No (d)(1)(ii) Were there any significant deficiencies in internal control reported at the financial statement level (GAGAS)? No (d)(1)(iii) Was there any reported material noncompliance at the financial statement level (GAGAS)? No (d)(1)(iv) Were there any material weaknesses in internal control reported for major federal programs? No (d)(1)(iv) Were there any significant deficiencies in internal control reported for major federal programs? Yes (d)(1)(v) Type of Major Programs? Compliance Opinion Unmodified (d)(1)(vi) Are there any reportable findings under 2 CFR ? 200.516(a)? No (d)(1)(vii) Major Programs (list): US Department of Housing and Urban Development: CFDA #14.181: Section 811 Capital Advance (d)(1)(viii) Dollar Threshold: Type A\B Programs Type A: > $ 750,000 Type B: all others (d)(1)(ix) Low Risk Auditee under 2 CFR ? 200.520? Yes 3. FINDINGS FOR FEDERAL AWARDS Finding Number 2020-001 CFDA Title and Number CFDA #14.181 Section 811 Capital Advance Loan Federal Award Year 2020 Federal Agency Department of Housing and Urban Development Compliance Requirement Residual Receipts Deposit Pass-Through Entity N/A Repeat Finding from Prior Audit No Noncompliance/Significant Deficiency Criteria: Special Tests and Provisions Residual Receipts Account Compliance Requirements: Any funds in the project funds account (including earned interest) at the end of the fiscal year shall be deposited in a federally insured account within 90 days following the end of the fiscal year. Withdrawals from this account may be made only for project purposes and with the approval of HUD (24 CFD section 891.400(e)). Context: The Project did not make a deposit to the Residual Receipts account within 90 days of the end of the fiscal year. Cause: The Project lacked proper internal controls to ensure the Residual Receipts deposit was completed within the required timeframe. Effect: The Project did not complete the Residual Receipts deposit of $10,345 until December 22, 2020. The deposit date is after the required due date of September 30, 2020. Recommendation: We recommend the Project establish a process of calculating surplus cash and making a timely deposit into the Residual Receipts account at the end of each fiscal year. Management?s Response: See Corrective Action Plan.

Corrective Action Plan

Finding Number Planned Corrective Action Anticipated Completion Date Responsible Contact Person 2020-001 The Project will establish a process of calculating surplus cash and make a timely deposit into the Residual Receipts account within 90 days of the end of the fiscal year. June 30, 2021 Sara Life, CFO

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FY 2016-06-30

FAC accepted this audit on January 18, 2017 — management decision was due July 18, 2017.

2016-001
Special Tests & Provisions

GSA_MIGRATION

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GSA_MIGRATION

Corrective Action Plan

GSA_MIGRATION

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