EIN: 562574959
UEI: LNGBBLJ1XJL1
Data as of August 24, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 7, 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 October 7, 2021 (1782 days ago).
What is a management decision? →The internal control system over the approval of withdrawals from restricted cash accountslacks sufficient monitoring by upper management.Cause: Lack of oversight and misunderstanding by the management agent allowed for withdrawalsfrom the reserve replacement account.Effect or Potential Effect: The property could be placed in noncompliance by the regulatory agency.Perspective Information: All withdrawals from restricted cash accounts are reviewed to ensure properapproval and usage.Questioned Costs: Questioned costs totals the amount of withdrawals from the Replacement Reserveaccount that were not authorized. This total is $14,209.00.Recommendation: Upper management should be reminded of the regulatory compliance on allrestricted cash accounts regulated by the Regulatory agreement.Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding.The above persons have been reminded. In addition, a repayment plan has been initiated to repay theReserve account by the end of 2021.FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL AWARD PROGRAMS AUDITSee Finding No 2020-001 listed above.
Show full finding ▾Hide full finding ▴FINDINGS - FINANCIAL STATEMENT AUDITFinding No 2020-001Criteria: In accordance with provision of the regulatory agreement, restricted deposits are held by HUDto be used for the replacement of property as necessary. If withdrawals are needed, HUD approval isrequired.Condition: The internal control system over the approval of withdrawals from restricted cash accountslacks sufficient monitoring by upper management.Cause: Lack of oversight and misunderstanding by the management agent allowed for withdrawalsfrom the reserve replacement account.Effect or Potential Effect: The property could be placed in noncompliance by the regulatory agency.Perspective Information: All withdrawals from restricted cash accounts are reviewed to ensure properapproval and usage.Questioned Costs: Questioned costs totals the amount of withdrawals from the Replacement Reserveaccount that were not authorized. This total is $14,209.00.Recommendation: Upper management should be reminded of the regulatory compliance on allrestricted cash accounts regulated by the Regulatory agreement.Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding.The above persons have been reminded. In addition, a repayment plan has been initiated to repay theReserve account by the end of 2021.FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL AWARD PROGRAMS AUDITSee Finding No 2020-001 listed above.
Borrower Name : New Morning Apartments, Inc.Project Name : New Morning ApartmentsName of Audit Firm : Coffman and Company, P.C.Period covered by the audit : Year Ended December 31, 2020CAP prepared by : Sheila Calvert, General Manager, 573-448-3000HUD Project No: 085-HD042A. Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations1.) Finding 2020-001a. Comments on the Finding and Each Recommendation:Upper management should be reminded of the regulatory compliance on all restricted cash accounts regulated by the Regulatory Agreement.b. Action(s) Taken or Planned on the Finding:Management agrees with this finding. The persons above have been reminded. In addition, a repayment plan has been initiated to repay the Reserve account by the end of 2021.B. Status of Corrective Actions on Findings Reported in the Prior Audit Schedule of Findings, Questioned Costs, and RecommendationsThere were no prior year findings.
FAC accepted this audit on April 12, 2017 — management decision was due October 12, 2017.
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