EIN: 561290050
UEI: M9AYS5VBP817
Data as of August 22, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 10, 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 September 10, 2026 (18 days from today).
What is a management decision? →During the year ended December 31, 2025, the Corporation had $126,209.01 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limit established for federal deposit insurance. If funds exceed the amount covered by federal deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Effect: Noncompliance with USDA RD requirements and risk of loss of the Corporation's funds. Cause: Management and the Board of Directors do not believe the funds are at risk of loss at this time. Context: A test to verify that bank account funds maintained in an intuition were covered by federal deposit insurance was performed. At December 31, 2024, bank account funds in excess of the federally insured limits were $126,209.01. Recommendation: The Board of Directors and management should obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Questioned Costs: $0 Views of Responsible Officials and Corrective Action Plan: Management and the Board of Directors agree with the above finding and review the financial stability of the banking institutions that hold the Corporation's funds on an ongoing basis and will continue to do so. Management and the Board of Directors do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. Management and the Board of Directors will transfer the funds at any point they believe the funds are truly at risk.
Show full finding ▾Hide full finding ▴Finding 2025-001: U.S. Department of Agriculture, Rural Development, Rural Rental Housing Loans, Assistance Listing #10.415 Statement of Condition: During the year ended December 31, 2025, the Corporation had $126,209.01 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limit established for federal deposit insurance. If funds exceed the amount covered by federal deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Effect: Noncompliance with USDA RD requirements and risk of loss of the Corporation's funds. Cause: Management and the Board of Directors do not believe the funds are at risk of loss at this time. Context: A test to verify that bank account funds maintained in an intuition were covered by federal deposit insurance was performed. At December 31, 2024, bank account funds in excess of the federally insured limits were $126,209.01. Recommendation: The Board of Directors and management should obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Questioned Costs: $0 Views of Responsible Officials and Corrective Action Plan: Management and the Board of Directors agree with the above finding and review the financial stability of the banking institutions that hold the Corporation's funds on an ongoing basis and will continue to do so. Management and the Board of Directors do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. Management and the Board of Directors will transfer the funds at any point they believe the funds are truly at risk.
PRINCEVILE DEVLOPMENT CORPORATION P.O. Box 1567 Dunn, North Carolina 28335 CORRECTIVE ACTION PLAN February 23, 2026 USDA, Rural Development 403 Government Circle, Suite 3 Greenville, North Carolina 27834 Princeville Development Corporation respectfully submits the following Corrective Action Plan for the year ended December 31, 2025. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Greensboro, North Carolina 27410 Audit period: Year ended December 31, 2025 The finding from the December 31, 2025 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings and Questioned Costs: Finding 2025-001: U.S. Department of Agriculture, Rural Development, Rural Rental Housing Loans, Assistance Listing #10.415 Recommendation: We recommend that management obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Action Taken: We will review the financial stability of the banking institutions which hold the Corporation's funds on an ongoing basis. We do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. We will transfer the funds at any point they believe the funds are truly at risk. If you have questions regarding this plan, please call Neil McLamb at 910-766-6283. Sincerely yours, Neil McLamb CFO, DTH Management Group, LTD
2024-001
FAC accepted this audit on March 24, 2025 — management decision was due September 24, 2025.
During the year ended December 31, 2024, the Corporation had $116,704.83 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limit established for federal deposit insurance. If funds exceed the amount covered by federal deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Effect: Noncompliance with USDA RD requirements and risk of loss of the Corporation's funds. Cause: Management and the Board of Directors do not believe the funds are at risk of loss at this time. Context: A test to verify that bank account funds maintained in an intuition were covered by federal deposit insurance was performed. At December 31, 2024, bank account funds in excess of the federally insured limits were $116,704.83. Recommendation: The Board of Directors and management should obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Questioned Costs: $0 Views of Responsible Officials and Corrective Action Plan: Management and the Board of Directors agree with the above finding and review the financial stability of the banking institutions that hold the Corporation's funds on an ongoing basis and will continue to do so. Management and the Board of Directors do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. Management and the Board of Directors will transfer the funds at any point they believe the funds are truly at risk.
Show full finding ▾Hide full finding ▴Finding 2024-001: U.S. Department of Agriculture, Rural Development, Rural Rental Housing Loans, Assistance Listing #10.415 Statement of Condition: During the year ended December 31, 2024, the Corporation had $116,704.83 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limit established for federal deposit insurance. If funds exceed the amount covered by federal deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Effect: Noncompliance with USDA RD requirements and risk of loss of the Corporation's funds. Cause: Management and the Board of Directors do not believe the funds are at risk of loss at this time. Context: A test to verify that bank account funds maintained in an intuition were covered by federal deposit insurance was performed. At December 31, 2024, bank account funds in excess of the federally insured limits were $116,704.83. Recommendation: The Board of Directors and management should obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Questioned Costs: $0 Views of Responsible Officials and Corrective Action Plan: Management and the Board of Directors agree with the above finding and review the financial stability of the banking institutions that hold the Corporation's funds on an ongoing basis and will continue to do so. Management and the Board of Directors do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. Management and the Board of Directors will transfer the funds at any point they believe the funds are truly at risk.
PRINCEVILLE DEVELOPMENT CORPORATION P.O. Box 1567 Dunn, North Carolina 28335 CORRECTIVE ACTION PLAN March 3, 2025 USDA, Rural Development 403 Government Circle, Suite 3 Greenville, North Carolina 27834 Princeville Development Corporation respectfully submits the following Corrective Action Plan for the year ended December 31, 2024. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Greensboro, North Carolina 27410 Audit period: Year ended December 31, 2024 The finding from the December 31, 2024 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings and Questioned Costs: Finding 2024-001: U.S. Department of Agriculture, Rural Development, Rural Rental Housing Loans, Assistance Listing #10.415 Recommendation: We recommend that management obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Action Taken: We will review the financial stability of the banking institutions which hold the Corporation's funds on an ongoing basis. We do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. We will transfer the funds at any point they believe the funds are truly at risk. If you have questions regarding this plan, please call Neil McLamb at 910-766-6283. Sincerely yours, Neil McLamb CFO, DTH Management Group, LTD
2023-001
FAC accepted this audit on April 24, 2024 — management decision was due October 24, 2024.
During the year ended December 31, 2023, the Corporation had $91,631.61 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limit established for Federal deposit insurance. If funds exceed the amount covered by Federal Deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Effect: Noncompliance with USDA RD requirements and risk of loss of the Corporation's funds. Cause: Management and Owners do not believe the funds are at risk of loss at this time. Context: A test to verify that bank account funds maintained in an intuition were covered by Federal Deposit insurance was performed. At December 31, 2023, bank account funds in excess of the federally insured limits were $91,631.61. Recommendation: Ownership and management should obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Questioned Costs: $0 Views of Responsible Officials and Corrective Action Plan: Management and Ownership agree with the above finding and review the financial stability of the banking institutions which hold the Corporation's funds on an ongoing basis and will continue to do so. Management and the Owners do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. Management and the Owners will transfer the funds at any point they believe the funds are truly at risk.
Show full finding ▾Hide full finding ▴Finding 2023-001: U.S. Department of Agriculture, Rural Development, Rural Rental Housing Loans, Assistance Listing #10.415 Statement of Condition: During the year ended December 31, 2023, the Corporation had $91,631.61 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limit established for Federal deposit insurance. If funds exceed the amount covered by Federal Deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Effect: Noncompliance with USDA RD requirements and risk of loss of the Corporation's funds. Cause: Management and Owners do not believe the funds are at risk of loss at this time. Context: A test to verify that bank account funds maintained in an intuition were covered by Federal Deposit insurance was performed. At December 31, 2023, bank account funds in excess of the federally insured limits were $91,631.61. Recommendation: Ownership and management should obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Questioned Costs: $0 Views of Responsible Officials and Corrective Action Plan: Management and Ownership agree with the above finding and review the financial stability of the banking institutions which hold the Corporation's funds on an ongoing basis and will continue to do so. Management and the Owners do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. Management and the Owners will transfer the funds at any point they believe the funds are truly at risk.
PRINCEVILLE DEVELOPMENT CORPORATION P.O. Box 1567 Dunn, North Carolina 28335 CORRECTIVE ACTION PLAN February 23, 2024 USDA, Rural Development 403 Government Circle, Suite 3 Greenville, North Carolina 27834 Princeville Development Corporation, respectfully submits the following Corrective Action Plan for the year ended December 31, 2023. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Greensboro, North Carolina 27410 Audit period: Year ended December 31, 2023 The finding from the December 31, 2023 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings and Questioned Costs: Finding 2023-001: U.S. Department of Agriculture, Rural Development, Rural Rental Housing Loans, Assistance Listing #10.415 Recommendation: We recommend that management obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Action Taken: We will review the financial stability of the banking institutions which hold the Corporation's funds on an ongoing basis. We do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. We will transfer the funds at any point they believe the funds are truly at risk. If you have questions regarding this plan, please call Neil McLamb at 910-766-6283. Sincerely yours, Neil McLamb CFO, DTH Management Group, LTD
2022-001
FAC accepted this audit on April 24, 2023 — management decision was due October 24, 2023.
During the year ended December 31, 2022, the Corporation had $71,322.74 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limit established for Federal deposit insurance. If funds exceed the amount covered by Federal Deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Effect: Noncompliance with USDA RD requirements and risk of loss of the Corporation's funds. Cause: Management and Owners do not believe the funds are at risk of loss at this time. Context: A test to verify that bank account funds maintained in an intuition were covered by Federal Deposit insurance was performed. At December 31, 2022, bank account funds in excess of the federally insured limits were $71,322.74. Recommendation: Ownership and management should obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Questioned Costs: $0 Views of Responsible Officials and Corrective Action Plan: Management and Ownership agree with the above finding and review the financial stability of the banking institutions which hold the Corporation's funds on an ongoing basis and will continue to do so. Management and the Owners do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. Management and the Owners will transfer the funds at any point they believe the funds are truly at risk.
Show full finding ▾Hide full finding ▴Finding 2022-001: U.S. Department of Agriculture, Rural Development, Rural Rental Housing Loans, Assistance Listing #10.415 Statement of Condition: During the year ended December 31, 2022, the Corporation had $71,322.74 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limit established for Federal deposit insurance. If funds exceed the amount covered by Federal Deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Effect: Noncompliance with USDA RD requirements and risk of loss of the Corporation's funds. Cause: Management and Owners do not believe the funds are at risk of loss at this time. Context: A test to verify that bank account funds maintained in an intuition were covered by Federal Deposit insurance was performed. At December 31, 2022, bank account funds in excess of the federally insured limits were $71,322.74. Recommendation: Ownership and management should obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Questioned Costs: $0 Views of Responsible Officials and Corrective Action Plan: Management and Ownership agree with the above finding and review the financial stability of the banking institutions which hold the Corporation's funds on an ongoing basis and will continue to do so. Management and the Owners do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. Management and the Owners will transfer the funds at any point they believe the funds are truly at risk.
PRINCEVILLE DEVELOPMENT CORPORATION P.O. Box 1567 Dunn, North Carolina 28335 CORRECTIVE ACTION PLAN February 27, 2023 USDA, Rural Development 403 Government Circle, Suite 3 Greenville, North Carolina 27834 Princeville Development Corporation, respectfully submits the following Corrective Action Plan for the year ended December 31, 2022. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Greensboro, North Carolina 27410 Audit period: Year ended December 31, 2022 The finding from the December 31, 2022 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings and Questioned Costs: Finding 2022-001: U.S. Department of Agriculture, Rural Development, Rural Rental Housing Loans, Assistance Listing #10.415 Recommendation: We recommend that management obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Action Taken: We will review the financial stability of the banking institutions which hold the Partnerships' funds on an ongoing basis. We do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. We will transfer the funds at any point they believe the funds are truly at risk. If you have questions regarding this plan, please call Neil McLamb at 910-766-6283. Sincerely yours, Neil McLamb CFO, DTH Management Group, LTD
2021-001
FAC accepted this audit on May 17, 2022 — management decision was due November 17, 2022.
During the year ended December 31, 2021, the Corporation had $23,177.39 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limit established for Federal deposit insurance. If funds exceed the amount covered by Federal Deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Cause of Condition: Management and Owners do not believe the funds are at risk of loss at this time. Effect of Condition: Noncompliance with USDA RD requirements and risk of loss of the Corporation's funds. Recommendation: Ownership and management should obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Questioned Costs: $0 Information based on Universe and Population Size: The finding noted above was not a result of sampling. Sample Size Information: The finding noted above was not a result of sampling. Noncompliance Information: The finding noted above was not a result of sampling. Reporting Views of Responsible Officials: Management and Ownership agree with the above finding and review the financial stability of the banking institutions which hold the Corporation's funds on an ongoing basis and will continue to do so. Management and the Owners do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. Management and the Owners will transfer the funds at any point they believe the funds are truly at risk.
Show full finding ▾Hide full finding ▴Finding 2021-001 Statement of Condition: During the year ended December 31, 2021, the Corporation had $23,177.39 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limit established for Federal deposit insurance. If funds exceed the amount covered by Federal Deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Cause of Condition: Management and Owners do not believe the funds are at risk of loss at this time. Effect of Condition: Noncompliance with USDA RD requirements and risk of loss of the Corporation's funds. Recommendation: Ownership and management should obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Questioned Costs: $0 Information based on Universe and Population Size: The finding noted above was not a result of sampling. Sample Size Information: The finding noted above was not a result of sampling. Noncompliance Information: The finding noted above was not a result of sampling. Reporting Views of Responsible Officials: Management and Ownership agree with the above finding and review the financial stability of the banking institutions which hold the Corporation's funds on an ongoing basis and will continue to do so. Management and the Owners do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. Management and the Owners will transfer the funds at any point they believe the funds are truly at risk.
PRINCEVILLE DEVELOPMENT CORPORATION P.O. Box 1567 Dunn, North Carolina 28335 CORRECTIVE ACTION PLAN February 25, 2022 USDA, Rural Development 403 Government Circle, Suite 3 Greenville, North Carolina 27834 Princeville Development Corporation, respectfully submits the following Corrective Action Plan for the year ended December 31, 2021. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Greensboro, North Carolina 27410 Audit period: Year ended December 31, 2021 The finding from the December 31, 2021 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings and Questioned Costs: Finding 2021-001: Recommendation: We recommend that management obtain a collateral agreement or transfer funds to another federally insured banking institution in an amount sufficient to ensure all funds are federally insured. Action Taken: We will review the financial stability of the banking institutions which hold the Partnerships' funds on an ongoing basis. We do not feel at this time that the funds are truly at risk based on current market conditions and the reviews they continually do on the financial stability of the banking institutions holding these funds. We will transfer the funds at any point they believe the funds are truly at risk. If you have questions regarding this plan, please call Neil McLamb at 910-766-6283. Sincerely yours, Neil McLamb CFO, DTH Management Group, LTD
FAC accepted this audit on September 30, 2020 — management decision was due March 30, 2021.
For the year's ending December 31, 2016, 2017 and 2018, the Corporation did not have a single audit conducted for those years. Criteria: Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), Section 200.501 Audit requirements requires non-profit entities expending $750,000 or more during the fiscal year in federal awards must have a single audit conducted for that year. Cause of Condition: During the year ending December 31, 2016, the property had a change in management and was severely damaged by a hurricane, causing all 24 units to be taken out of service. The prior management company did not have a single audit conducted during the years ending December 31, 2016, 2017 and 2018. Effect of Condition: For the fiscal years ending December 31, 2016, 2017 and 2018, the Corporation was not in compliance with the Uniform Guidance audit requirements. Context: A test was performed to review the two most recent fiscal year audits performed under the Uniform Guidance to determine if the Corporation qualified as a low-risk auditee. For the three most recent fiscal years the Corporation did not have audits performed under Uniform Guidance. Recommendation: We recommend that management ensure a single audit is performed under Uniform Guidance requirements each fiscal year going forward. Questioned Costs: $0 Views of Responsible Officials and Corrective Action Plan: Management acknowledges that no single audits were performed under the Uniform Guidance during the fiscal years ending December 31, 2016, 2017 and 2018. The Corporation contracted with a new management company effective January 1, 2019 and the new management company resumed the single audit requirement under Uniform Guidance for the year ending December 31, 2019.
Show full finding ▾Hide full finding ▴Statement of Condition: For the year's ending December 31, 2016, 2017 and 2018, the Corporation did not have a single audit conducted for those years. Criteria: Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), Section 200.501 Audit requirements requires non-profit entities expending $750,000 or more during the fiscal year in federal awards must have a single audit conducted for that year. Cause of Condition: During the year ending December 31, 2016, the property had a change in management and was severely damaged by a hurricane, causing all 24 units to be taken out of service. The prior management company did not have a single audit conducted during the years ending December 31, 2016, 2017 and 2018. Effect of Condition: For the fiscal years ending December 31, 2016, 2017 and 2018, the Corporation was not in compliance with the Uniform Guidance audit requirements. Context: A test was performed to review the two most recent fiscal year audits performed under the Uniform Guidance to determine if the Corporation qualified as a low-risk auditee. For the three most recent fiscal years the Corporation did not have audits performed under Uniform Guidance. Recommendation: We recommend that management ensure a single audit is performed under Uniform Guidance requirements each fiscal year going forward. Questioned Costs: $0 Views of Responsible Officials and Corrective Action Plan: Management acknowledges that no single audits were performed under the Uniform Guidance during the fiscal years ending December 31, 2016, 2017 and 2018. The Corporation contracted with a new management company effective January 1, 2019 and the new management company resumed the single audit requirement under Uniform Guidance for the year ending December 31, 2019.
PRINCEVILLE DEVELOPMENT CORPORATION P.O. Box 1567 Dunn, North Carolina 28335 CORRECTIVE ACTION PLAN September 9, 2020 Federal Audit Clearinghouse 1201 East 10th Street Jeffersonville, Indiana 47132 Princeville Development Corporation, respectfully submits the following Corrective Action Plan for the year ended December 31, 2019. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Greensboro, North Carolina 27410 Audit period: Year ended December 31, 2019 The finding from the December 31, 2019 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings and Questioned Costs: Finding 2019-001: Section III - Findings and questioned costs relating to the major programs which are required to be reported as defined by the Uniform Guidance [2 CFR 200.516(a)]: Recommendation: We recommend that management ensure a single audit is performed under Uniform Guidance requirements each fiscal year going forward. Action Taken: The Corporation contracted with a new management company effective January 1, 2019 and the new management company resumed the single audit requirement under Uniform Guidance for the year ending December 31, 2019. If you have questions regarding this plan, please call Neil McLamb at 910-766-6283. Sincerely yours, Neil McLamb CFO, DTH Management Group, LTD
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