EIN: 561414532
UEI: MCGDDJLCK6N6
Data as of August 25, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on December 13, 2022. 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 13, 2023 (1169 days ago).
What is a management decision? →On April 20, 2022, HUD's Real Estate Assessment Center ("REAC") inspected the Project, and the Project received a score of 29c. The inspection report identified serious deficiencies that demonstrate the Corporation is in violation of the Regulatory Agreement. On May 16, 2022, the Corporation received a Notice of Violation and Demand for Corrective Action ("NOV") from HUD's Department Enforcement Center as a result of the violation. Furthermore, the NOV required corrective actions within 60 days of receipt of the NOV or a written request for a reasonable extension. Management has not completed all of the corrective actions nor submitted a response to the NOV or request for an extension. Criteria: The Regulatory Agreement requires that the Corporation maintain the mortgaged premises, accommodations and the grounds and equipment appurtenant thereto, in good repair and condition. Furthermore, the Regulatory Agreement requires responses to all inquiries from HUD (including its agents, employees, or attorneys) upon which information is desired relative to income, assets, liabilities, contracts, operations, condition of the property, and the status of the insured mortgage. Effect: Noncompliance with the Regulatory Agreement and possible default on the Regulatory Agreement. Cause: Management override of controls. The Project does not have sufficient cash flow to make the required repairs and is in need of a rehab. Context: A test was performed to review inspection reports/notices from HUD and management's actions/responses to any inspection report/notices from HUD received during the year ended June 30, 2022. Questioned Costs: N/A Recommendation: We recommend that management and ownership continue to pursue a rehab of the Project with HUD and respond to all notices received from HUD. View of Responsible Officials and Corrective Action Plan: Management acknowledges all corrective actions described in the NOV have not been completed and no response was provided to HUD for the NOV. Management and the owners are working with HUD to proceed with a rehab of the Project to correct all physical deficiencies. Furthermore, management has submitted a request to HUD to release Section 8 Contract Savings Escrow funds to pay for the up-front costs due to the lender to process the loan application to HUD for a rehab.
Show full finding ▾Hide full finding ▴Statement of Condition: On April 20, 2022, HUD's Real Estate Assessment Center ("REAC") inspected the Project, and the Project received a score of 29c. The inspection report identified serious deficiencies that demonstrate the Corporation is in violation of the Regulatory Agreement. On May 16, 2022, the Corporation received a Notice of Violation and Demand for Corrective Action ("NOV") from HUD's Department Enforcement Center as a result of the violation. Furthermore, the NOV required corrective actions within 60 days of receipt of the NOV or a written request for a reasonable extension. Management has not completed all of the corrective actions nor submitted a response to the NOV or request for an extension. Criteria: The Regulatory Agreement requires that the Corporation maintain the mortgaged premises, accommodations and the grounds and equipment appurtenant thereto, in good repair and condition. Furthermore, the Regulatory Agreement requires responses to all inquiries from HUD (including its agents, employees, or attorneys) upon which information is desired relative to income, assets, liabilities, contracts, operations, condition of the property, and the status of the insured mortgage. Effect: Noncompliance with the Regulatory Agreement and possible default on the Regulatory Agreement. Cause: Management override of controls. The Project does not have sufficient cash flow to make the required repairs and is in need of a rehab. Context: A test was performed to review inspection reports/notices from HUD and management's actions/responses to any inspection report/notices from HUD received during the year ended June 30, 2022. Questioned Costs: N/A Recommendation: We recommend that management and ownership continue to pursue a rehab of the Project with HUD and respond to all notices received from HUD. View of Responsible Officials and Corrective Action Plan: Management acknowledges all corrective actions described in the NOV have not been completed and no response was provided to HUD for the NOV. Management and the owners are working with HUD to proceed with a rehab of the Project to correct all physical deficiencies. Furthermore, management has submitted a request to HUD to release Section 8 Contract Savings Escrow funds to pay for the up-front costs due to the lender to process the loan application to HUD for a rehab.
Franklin-Vance-Warren Housing of Franklin County, Inc. Henderson, North Carolina CORRECTIVE ACTION PLAN September 27, 2022 U. S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Franklin-Vance-Warren Housing of Franklin County, Inc. respectfully submits the following Corrective Action Plan for the year ended June 30, 2022. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 The finding from the June 30, 2022 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings - Financial Statement Audit and Federal Award Program Audit Finding 2022-001: Recommendation: We recommend that management and ownership continue to pursue a rehab of the Project with HUD and respond to all notices received from HUD. Management's Response: We agree with Finding 2022-001 and the recommendation described in the accompanying schedule of findings and questioned costs. Management acknowledges all corrective actions described in the NOV have not been completed and no response was provided to HUD for the NOV. Management and the owners are working with HUD to proceed with a rehab of the Project to correct all physical deficiencies. Furthermore, management has submitted a request to HUD to release Section 8 Contract Savings Escrow funds to pay for the up-front costs due to the lender to process the loan application to HUD for a rehab. If HUD has questions regarding this corrective action plan, please call (704) 771-1696. Sincerely yours, Michael Jameyson President Multifamily Select, Inc. Managing Agent
FAC accepted this audit on March 13, 2022 — management decision was due September 13, 2022.
The Corporation did not submit its annual financial report, certified by a Certified Public Accountant, to HUD within 90 days following the end of the fiscal year June 30, 2020. Criteria: HUD requirements, under the Uniform Financial Reporting Standards for HUD Housing Programs; Final Rule, and the Regulatory Agreement require that the Project's annual financial statements report be submitted to HUD within 90 days following the end of each fiscal year. Effect: Noncompliance with HUD regulations and the possibility that the Project could be subject to criminal and civil monetary penalties. Cause: Change in management. Context: A test was performed to review the most recent fiscal year audit submission to HUD. The annual financial statement report for the year ended June 30, 2020 was submitted to HUD on March 15, 2021. Questioned Costs: N/A Recommendation: We recommend management submit the annual financial report, certified by a Certified Public Accountant, within the required due dates each fiscal year going forward. Views of Responsible Officials and Corrective Action Plan: Management acknowledges the annual financial report for the year ended June 30, 2020 was not submitted to HUD within 90 days of the end of the fiscal year. The Corporation changed managing agents during the year ended June 30, 2020. The current managing agent will ensure the annual financial reports are submitted to HUD each fiscal year going forward within the required due dates.
Show full finding ▾Hide full finding ▴Finding 2021-001: Statement of Condition: The Corporation did not submit its annual financial report, certified by a Certified Public Accountant, to HUD within 90 days following the end of the fiscal year June 30, 2020. Criteria: HUD requirements, under the Uniform Financial Reporting Standards for HUD Housing Programs; Final Rule, and the Regulatory Agreement require that the Project's annual financial statements report be submitted to HUD within 90 days following the end of each fiscal year. Effect: Noncompliance with HUD regulations and the possibility that the Project could be subject to criminal and civil monetary penalties. Cause: Change in management. Context: A test was performed to review the most recent fiscal year audit submission to HUD. The annual financial statement report for the year ended June 30, 2020 was submitted to HUD on March 15, 2021. Questioned Costs: N/A Recommendation: We recommend management submit the annual financial report, certified by a Certified Public Accountant, within the required due dates each fiscal year going forward. Views of Responsible Officials and Corrective Action Plan: Management acknowledges the annual financial report for the year ended June 30, 2020 was not submitted to HUD within 90 days of the end of the fiscal year. The Corporation changed managing agents during the year ended June 30, 2020. The current managing agent will ensure the annual financial reports are submitted to HUD each fiscal year going forward within the required due dates.
Franklin-Vance-Warren Housing of Franklin County, Inc. Louisburg, North Carolina CORRECTIVE ACTION PLAN January 31, 2022 U. S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Franklin-Vance-Warren Housing of Franklin County, Inc. respectfully submits the following Corrective Action Plan for the year ended June 30, 2021. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 The finding from the June 30, 2021 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings - Federal Award Program Audit Finding 2021-001: Recommendation: We recommend management submit the annual financial report, certified by a Certified Public Accountant, each year going forward within 90 days following the fiscal year end. Management's Response: We agree with Finding 2021-001 and the recommendation described in the accompanying schedule of findings and questioned costs. The Corporation changed managing agents during the year ended June 30, 2020. We will ensure the annual financial reports are submitted to HUD each fiscal year going forward within required due dates. If HUD has questions regarding this corrective action plan, please call (704) 771-1696. Sincerely yours, Michael Jameyson President Multifamily Select, Inc. Managing Agent
FAC accepted this audit on March 16, 2021 — management decision was due September 16, 2021.
The Corporation did not submit its annual financial report, certified by a Certified Public Accountant, to HUD for the year ended June 30, 2019. Criteria: HUD requirements, under the Uniform Financial Reporting Standards for HUD Housing Programs; Final Rule, and the Regulatory Agreement require that the Project's annual financial statements report be submitted to HUD within 90 days following the end of each fiscal year. Effect: Noncompliance with HUD regulations and the possibility that the Project could be subject to criminal and civil monetary penalties. Cause: Change in management company. Context: A test was performed to review the most recent fiscal year audit submission to HUD. No annual financial statement report was submitted to HUD for the most recent fiscal year audit. Questioned Costs: N/A Recommendation: We recommend management submit the annual financial report, certified by a Certified Public Accountant, for the year ended June 30, 2019 to HUD as soon as possible. Views of Responsible Officials and Corrective Action Plan: Management acknowledges the annual financial report for the year ended June 30, 2019 has not been submitted to HUD. The Corporation changed management in September 2019 and the new management company was unaware that the annual financial report was not submitted to HUD. Management will ensure the annual financial report for the year ending June 30, 2019 is submitted to HUD as soon as possible.
Show full finding ▾Hide full finding ▴Statement of Condition: The Corporation did not submit its annual financial report, certified by a Certified Public Accountant, to HUD for the year ended June 30, 2019. Criteria: HUD requirements, under the Uniform Financial Reporting Standards for HUD Housing Programs; Final Rule, and the Regulatory Agreement require that the Project's annual financial statements report be submitted to HUD within 90 days following the end of each fiscal year. Effect: Noncompliance with HUD regulations and the possibility that the Project could be subject to criminal and civil monetary penalties. Cause: Change in management company. Context: A test was performed to review the most recent fiscal year audit submission to HUD. No annual financial statement report was submitted to HUD for the most recent fiscal year audit. Questioned Costs: N/A Recommendation: We recommend management submit the annual financial report, certified by a Certified Public Accountant, for the year ended June 30, 2019 to HUD as soon as possible. Views of Responsible Officials and Corrective Action Plan: Management acknowledges the annual financial report for the year ended June 30, 2019 has not been submitted to HUD. The Corporation changed management in September 2019 and the new management company was unaware that the annual financial report was not submitted to HUD. Management will ensure the annual financial report for the year ending June 30, 2019 is submitted to HUD as soon as possible.
Franklin-Vance-Warren Housing of Franklin County, Inc. Louisburg, North Carolina CORRECTIVE ACTION PLAN February 25, 2021 U. S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Franklin-Vance-Warren Housing of Franklin County, Inc. respectfully submits the following Corrective Action Plan for the year ended June 30, 2020. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 The findings from the June 30, 2020 Schedule of Findings and Questioned Costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. Findings - Federal Award Program Audit Finding 2020-001: Recommendation: We recommend management submit the annual financial report, certified by a Certified Public Accountant, for the year ended June 30, 2019 to HUD as soon as possible. Management's Response: We agree with Finding 2020-001 and the recommendation described in the accompanying schedule of findings and questioned costs. The Corporation changed management in September 2019 and the new management company was unaware that the annual financial report was not submitted to HUD. Management will ensure the annual financial report for the year ended June 30, 2019 is submitted to HUD as soon as possible. Finding 2020-002: Recommendation: We recommend management ensure that the data collection forms are submitted electronically to the FAC each fiscal year going forward. Management's Response: We agree with Finding 2020-002 and the recommendation described in the accompanying schedule of findings and questioned costs. The Corporation changed management in September 2019 and the new management will ensure the data collection forms are submitted electronically to the FAC each fiscal year going forward. If HUD has questions regarding this corrective action plan, please call (704) 771-1696. Sincerely yours, Michael Jameyson President Multifamily Select, Inc. Managing Agent
The Corporation did not submit the data collection form and required reporting package to the Federal Audit Clearinghouse (FAC) for the single audit for the year ended June 30, 2019. Criteria: The Uniform Guidance, 2 CFR Part 200 Section 200.512(d), Report Submission, requires any non-federal entity that expends Federal awards which must be audited under Subpart F of 2 CFR to electronically submit to the FAC the data collection form and the reporting package described in 2 CFR Part 200 Section 200.512. Effect: Noncompliance with Uniform Guidance regulations. Cause: Change in management company. Context: A test was performed to review the two most recent fiscal year audits performed under the Uniform Guidance and the required data collection forms were submitted to the FAC to determine if the Corporation qualified as a low-risk auditee. Audits were performed under the Uniform Guidance for the two most recent fiscal years, however, no data collection forms have been submitted to the FAC. Questioned Costs: N/A Recommendation: We recommend management ensure that the data collection forms are submitted electronically to the FAC each fiscal year going forward. Views of Responsible Officials and Corrective Action Plan: Management acknowledges the data collection form for the single audit for the year ended June 30, 2019 was not submitted to the FAC. The Corporation changed management in September 2019 and the new management will ensure the data collection forms are submitted electronically to the FAC each fiscal year going forward.
Show full finding ▾Hide full finding ▴Statement of Condition: The Corporation did not submit the data collection form and required reporting package to the Federal Audit Clearinghouse (FAC) for the single audit for the year ended June 30, 2019. Criteria: The Uniform Guidance, 2 CFR Part 200 Section 200.512(d), Report Submission, requires any non-federal entity that expends Federal awards which must be audited under Subpart F of 2 CFR to electronically submit to the FAC the data collection form and the reporting package described in 2 CFR Part 200 Section 200.512. Effect: Noncompliance with Uniform Guidance regulations. Cause: Change in management company. Context: A test was performed to review the two most recent fiscal year audits performed under the Uniform Guidance and the required data collection forms were submitted to the FAC to determine if the Corporation qualified as a low-risk auditee. Audits were performed under the Uniform Guidance for the two most recent fiscal years, however, no data collection forms have been submitted to the FAC. Questioned Costs: N/A Recommendation: We recommend management ensure that the data collection forms are submitted electronically to the FAC each fiscal year going forward. Views of Responsible Officials and Corrective Action Plan: Management acknowledges the data collection form for the single audit for the year ended June 30, 2019 was not submitted to the FAC. The Corporation changed management in September 2019 and the new management will ensure the data collection forms are submitted electronically to the FAC each fiscal year going forward.
Franklin-Vance-Warren Housing of Franklin County, Inc. Louisburg, North Carolina CORRECTIVE ACTION PLAN February 25, 2021 U. S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Franklin-Vance-Warren Housing of Franklin County, Inc. respectfully submits the following Corrective Action Plan for the year ended June 30, 2020. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 The findings from the June 30, 2020 Schedule of Findings and Questioned Costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. Findings - Federal Award Program Audit Finding 2020-001: Recommendation: We recommend management submit the annual financial report, certified by a Certified Public Accountant, for the year ended June 30, 2019 to HUD as soon as possible. Management's Response: We agree with Finding 2020-001 and the recommendation described in the accompanying schedule of findings and questioned costs. The Corporation changed management in September 2019 and the new management company was unaware that the annual financial report was not submitted to HUD. Management will ensure the annual financial report for the year ended June 30, 2019 is submitted to HUD as soon as possible. Finding 2020-002: Recommendation: We recommend management ensure that the data collection forms are submitted electronically to the FAC each fiscal year going forward. Management's Response: We agree with Finding 2020-002 and the recommendation described in the accompanying schedule of findings and questioned costs. The Corporation changed management in September 2019 and the new management will ensure the data collection forms are submitted electronically to the FAC each fiscal year going forward. If HUD has questions regarding this corrective action plan, please call (704) 771-1696. Sincerely yours, Michael Jameyson President Multifamily Select, Inc. Managing Agent
FAC accepted this audit on August 22, 2022 — management decision was due February 22, 2023.
Although the Organization's audit for the year ended June 30, 2019 was completed March 31, 2020, the close-out of the financial statements was delayed, thereby delaying the start of the audit. Effect: The Organization's funding from federal and/or state agencies may be delayed as a result of the late audit submissions. Cause: Management has taken steps to ensure compliance. The Organization has experienced vacancies in key management positions in the last couple of years. These vacancies resulted in a backlog of activities in the Finance Department that required staff to prioritize in order to complete. The Finance Department has worked tirelessly to address these issues and feel confident that timely preparation of financial statements will occur moving forward. Repeat Finding: Although the financial statements for the June 30, 2019 were made available in late January 2020, the completion of the audit was delayed by the world-wide pandemic (COVID-19). Recommendation: Management should put procedures in place to ensure the proper close out of year-end financial information no later than 90 days after year end. This will ensure that there is sufficient time to complete the audit for timely submission to funders. Views of responsible officials and planned corrective actions: Management agrees with this finding. In August 2019, management engaged a reputable and HUD approved management agent that has experience in managing affordable housing properties, this company now oversees operations at the property. This management agent has the skills and knowledge to operate the property in accordance with HUD rules and regulations and has in house staff and accounts to maintain owners books and records, monitor property cash flow, income and expenses, prepare monthly accounting reports, and oversee the annual audit process. The new management agency has significant experience in overseeing the operations of affordable housing properties and will ensure the timely completion and submission of audits. 2019-002: Compliance Oversight Criteria: Nonprofit organizations expending more than $750,000 in federal awards during a fiscal year are required to have a Single Audit, and to be in compliance with the types of compliance requirements described in OMB Compliance Supplement that could have a direct and material effect on each of the Organization?s major programs. Condition: The Organization is responsible for compliance with federal statutes, regulations and terms and conditions of its federal awards. Effect: The Organization has had several material findings and recommendation in its most recent audits, which could jeopardize funding of essential services it provides to its constituents Cause: The Organization has experienced transitions in leadership positions in recent years. Recommendation: The Organization receives about 67% of its federal awards from HUD. To ensure the Organization?s continued compliance with funding and reporting requirements, we recommend that the Organization commit resources to the hiring of an outside Program Compliance consultant, to oversee and ensure quarterly reviews of programs for compliance with applicable laws and regulations. Views of responsible officials and planned corrective actions: Management agrees with this finding. In August 2019, management engaged a reputable and HUD approved management agent that has experience in managing affordable housing properties, this company now oversees operations at the property. This management agent has the skills and knowledge to operate the property in accordance with HUD rules and regulations and has in house staff and accounts to maintain owners books and records, monitor property cash flow, income and expenses, prepare monthly accounting reports, and oversee the annual audit process. The new management agency has significant experience in overseeing the operations of affordable housing properties and will ensure compliance with applicable laws and regulations.
Show full finding ▾Hide full finding ▴Finding 2019-001: Delayed Reporting of Year-End Financial Information Criteria: Nonprofit organizations expending more than $750,000 in federal awards during a fiscal year are required to have a Single Audit submitted nine months after the close of its fiscal year. Condition: Although the Organization's audit for the year ended June 30, 2019 was completed March 31, 2020, the close-out of the financial statements was delayed, thereby delaying the start of the audit. Effect: The Organization's funding from federal and/or state agencies may be delayed as a result of the late audit submissions. Cause: Management has taken steps to ensure compliance. The Organization has experienced vacancies in key management positions in the last couple of years. These vacancies resulted in a backlog of activities in the Finance Department that required staff to prioritize in order to complete. The Finance Department has worked tirelessly to address these issues and feel confident that timely preparation of financial statements will occur moving forward. Repeat Finding: Although the financial statements for the June 30, 2019 were made available in late January 2020, the completion of the audit was delayed by the world-wide pandemic (COVID-19). Recommendation: Management should put procedures in place to ensure the proper close out of year-end financial information no later than 90 days after year end. This will ensure that there is sufficient time to complete the audit for timely submission to funders. Views of responsible officials and planned corrective actions: Management agrees with this finding. In August 2019, management engaged a reputable and HUD approved management agent that has experience in managing affordable housing properties, this company now oversees operations at the property. This management agent has the skills and knowledge to operate the property in accordance with HUD rules and regulations and has in house staff and accounts to maintain owners books and records, monitor property cash flow, income and expenses, prepare monthly accounting reports, and oversee the annual audit process. The new management agency has significant experience in overseeing the operations of affordable housing properties and will ensure the timely completion and submission of audits. 2019-002: Compliance Oversight Criteria: Nonprofit organizations expending more than $750,000 in federal awards during a fiscal year are required to have a Single Audit, and to be in compliance with the types of compliance requirements described in OMB Compliance Supplement that could have a direct and material effect on each of the Organization?s major programs. Condition: The Organization is responsible for compliance with federal statutes, regulations and terms and conditions of its federal awards. Effect: The Organization has had several material findings and recommendation in its most recent audits, which could jeopardize funding of essential services it provides to its constituents Cause: The Organization has experienced transitions in leadership positions in recent years. Recommendation: The Organization receives about 67% of its federal awards from HUD. To ensure the Organization?s continued compliance with funding and reporting requirements, we recommend that the Organization commit resources to the hiring of an outside Program Compliance consultant, to oversee and ensure quarterly reviews of programs for compliance with applicable laws and regulations. Views of responsible officials and planned corrective actions: Management agrees with this finding. In August 2019, management engaged a reputable and HUD approved management agent that has experience in managing affordable housing properties, this company now oversees operations at the property. This management agent has the skills and knowledge to operate the property in accordance with HUD rules and regulations and has in house staff and accounts to maintain owners books and records, monitor property cash flow, income and expenses, prepare monthly accounting reports, and oversee the annual audit process. The new management agency has significant experience in overseeing the operations of affordable housing properties and will ensure compliance with applicable laws and regulations.
Repeated
2018-001
The Organization is responsible for compliance with federal statutes, regulations and terms and conditions of its federal awards. Effect: The Organization has had several material findings and recommendation in its most recent audits, which could jeopardize funding of essential services it provides to its constituents Cause: The Organization has experienced transitions in leadership positions in recent years. Recommendation: The Organization receives about 67% of its federal awards from HUD. To ensure the Organization?s continued compliance with funding and reporting requirements, we recommend that the Organization commit resources to the hiring of an outside Program Compliance consultant, to oversee and ensure quarterly reviews of programs for compliance with applicable laws and regulations. Views of responsible officials and planned corrective actions: Management agrees with this finding. In August 2019, management engaged a reputable and HUD approved management agent that has experience in managing affordable housing properties, this company now oversees operations at the property. This management agent has the skills and knowledge to operate the property in accordance with HUD rules and regulations and has in house staff and accounts to maintain owners books and records, monitor property cash flow, income and expenses, prepare monthly accounting reports, and oversee the annual audit process. The new management agency has significant experience in overseeing the operations of affordable housing properties and will ensure compliance with applicable laws and regulations.
Show full finding ▾Hide full finding ▴2019-002: Compliance Oversight Criteria: Nonprofit organizations expending more than $750,000 in federal awards during a fiscal year are required to have a Single Audit, and to be in compliance with the types of compliance requirements described in OMB Compliance Supplement that could have a direct and material effect on each of the Organization?s major programs. Condition: The Organization is responsible for compliance with federal statutes, regulations and terms and conditions of its federal awards. Effect: The Organization has had several material findings and recommendation in its most recent audits, which could jeopardize funding of essential services it provides to its constituents Cause: The Organization has experienced transitions in leadership positions in recent years. Recommendation: The Organization receives about 67% of its federal awards from HUD. To ensure the Organization?s continued compliance with funding and reporting requirements, we recommend that the Organization commit resources to the hiring of an outside Program Compliance consultant, to oversee and ensure quarterly reviews of programs for compliance with applicable laws and regulations. Views of responsible officials and planned corrective actions: Management agrees with this finding. In August 2019, management engaged a reputable and HUD approved management agent that has experience in managing affordable housing properties, this company now oversees operations at the property. This management agent has the skills and knowledge to operate the property in accordance with HUD rules and regulations and has in house staff and accounts to maintain owners books and records, monitor property cash flow, income and expenses, prepare monthly accounting reports, and oversee the annual audit process. The new management agency has significant experience in overseeing the operations of affordable housing properties and will ensure compliance with applicable laws and regulations.
Corrected
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