EIN: 562124379
UEI: C277JRYBBNS7
Data as of August 25, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on October 1, 2020. 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 April 1, 2021 (1972 days ago).
What is a management decision? →Finding reference number: #2020-001 CFDA title and number (federal award identification and year): Supportive Housing for the Elderly, CFDA No. 14.157 (053-EE083, year 2000) Auditor non-compliance code: N - Reserve for Replacements Deposits Finding resolution status: Unresolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size is not applicable to the finding. Noncompliance Information: See statement of condition #2020-001 for noncompliance information. Statistically valid sample: Not applicable Name of Federal Agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $10,357 Statement of condition #2020-001: During the year ended June 30, 2020, one PRAC shortfall withdrawal totaling $10,357 was not reimbursed to the reserve for replacements account after the PRAC funds were received from HUD. Criteria: Pursuant to Section 2.6(c) of the PRAC Agreement (form HUD-90173), funds may be withdrawn from the reserve and used only in accordance with HUD guidelines and with the approval of, or as directed by, HUD. Chapters 4-28 and 4-29 of the Multifamily Asset Management and Project Servicing Handbook (4350.1 Rev-1) further details that borrowing from the reserve for replacements account shall require the borrower to repay the advance on specified terms and over a reasonable period of time, which in this case, required the reimbursement be made to the reserve for replacements account upon receipt of the PRAC funds from HUD. Effect or potential effect: The Corporation is not in compliance with the terms of the PRAC Agreement or Chapter 4 of the Handbook. The reserve for replacements account is underfunded by $10,357 at June 30, 2020. Cause: Due to an initial oversight by management, and then lack of operating cash flow at the Community, the reimbursement of $10,357 was not made to the reserve for replacements account prior to year-end. Recommendation: Management should transfer $10,357 from the operating account to the reserve for replacements account, or request a waiver from HUD to obtain approval to not make this reimbursement. Completion date: September 25, 2020 Reporting views of responsible officials: Management concurs with the finding and agrees with the auditor's recommendation. On September 25, 2020, the Corporation reimbursed $10,357 to the reserve for replacements account. No further action is required.
Show full finding ▾Hide full finding ▴Finding reference number: #2020-001 CFDA title and number (federal award identification and year): Supportive Housing for the Elderly, CFDA No. 14.157 (053-EE083, year 2000) Auditor non-compliance code: N - Reserve for Replacements Deposits Finding resolution status: Unresolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size is not applicable to the finding. Noncompliance Information: See statement of condition #2020-001 for noncompliance information. Statistically valid sample: Not applicable Name of Federal Agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $10,357 Statement of condition #2020-001: During the year ended June 30, 2020, one PRAC shortfall withdrawal totaling $10,357 was not reimbursed to the reserve for replacements account after the PRAC funds were received from HUD. Criteria: Pursuant to Section 2.6(c) of the PRAC Agreement (form HUD-90173), funds may be withdrawn from the reserve and used only in accordance with HUD guidelines and with the approval of, or as directed by, HUD. Chapters 4-28 and 4-29 of the Multifamily Asset Management and Project Servicing Handbook (4350.1 Rev-1) further details that borrowing from the reserve for replacements account shall require the borrower to repay the advance on specified terms and over a reasonable period of time, which in this case, required the reimbursement be made to the reserve for replacements account upon receipt of the PRAC funds from HUD. Effect or potential effect: The Corporation is not in compliance with the terms of the PRAC Agreement or Chapter 4 of the Handbook. The reserve for replacements account is underfunded by $10,357 at June 30, 2020. Cause: Due to an initial oversight by management, and then lack of operating cash flow at the Community, the reimbursement of $10,357 was not made to the reserve for replacements account prior to year-end. Recommendation: Management should transfer $10,357 from the operating account to the reserve for replacements account, or request a waiver from HUD to obtain approval to not make this reimbursement. Completion date: September 25, 2020 Reporting views of responsible officials: Management concurs with the finding and agrees with the auditor's recommendation. On September 25, 2020, the Corporation reimbursed $10,357 to the reserve for replacements account. No further action is required.
Name of auditee: Wake County Opportunities Housing Corporation II HUD auditee identification number: 053-EE083 Name of audit firm: Dauby O'Connor & Zaleski, LLC Period covered by the audit: Year ended June 30, 2020 CAP prepared by Name: Laura Grimes Position: Accounting Manager Telephone number: 336-231-8134 Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations Finding #2020-001: Comments on the finding and recommendation: During the year ended June 30, 2020, one PRAC shortfall withdrawal totaling $10,357 was not reimbursed to the reserve for replacements account after the PRAC funds were received from HUD. Management should transfer $10,357 from the operating account to the reserve for replacements account, or request a waiver from HUD to obtain approval to not make this reimbursement. Action(s) taken or planned on the finding: Management concurs with the finding and agrees with the auditor's recommendation. On September 25, 2020, the Corporation reimbursed $10,357 to the reserve for replacements account. No further action is required.
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