EIN: 571090154
UEI: NDHUBKJDEKZ9
010801025, 272452190, 301067157, 301123744, 371700260, 460605991, 460781287, 462131376, 462437874, 463415213, 463793981, 464354228, 465544042, 472271160, 472746471, 472777991, 474546749, 474568036, 474614147, 474708586, 475004813, 510517882, 510517884, 510517886, 510517895, 510517896, 510517897, 522337036, 522407171, 522458651, 593778285, 742923927, 742968176, 751566426, 752966502, 752966503, 800089228, 800089232, 800089233, 811624974, 811637728, 812381872, 812406385, 812728080, 812765701, 813537998, 813601613, 813636946, 823195662, 823216169, 823254090, 824981363, 825027278, 825061743, 825073845, 825102627, 825167064, 825173292, 825202825, 825209275, 825221441, 830411648, 831029636, 831072617, 843004627, 843041580, 843056937, 843065246, 844037230, 844042951, 844495222, 844509377, 844724743, 844806039, 852937848, 861090526, 861090531, 861090533, 861090535, 870755141, 900129534, 900178143 · unlinked EINs have no separate FAC filing
Audited by: M Group, LLP
Cognizant agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on September 9, 2024. 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 March 9, 2025 (543 days ago).
What is a management decision? →The Partnership failed to maintain proper certifications prior to doing on-site transfers governed by the HAP Contract that required multiple months to unravel and resulted in a delay in payment until March 2024. Criteria: The Partnership is required to annually re-certify tenants to ensure they are meeting the HAP Contract requirements and receiving benefits according to their income. Questioned Costs: $639,206 Effect: The Partnership is in violation of the Section 8 Housing Assistance Payments Program. Repeat Finding: No Cause: The Project was undergoing a major rehabilitation and transferred tenants which had lost HUD certification. Recommendation: We recommend the Partnership review the rules that govern the HAP Contract and implement a system to ensure that all new and existing residents are meeting the Contract requirements. Management’s Views: Management is in agreement with the finding and will submit the remaining vouchers with the related certification documentation. Management will implement a process to accurately track unit transfers during a major rehabilitation and maintain the proper tenant certifications. Auditors comment: The Partnership has recertified existing residents, submitted the 2023 vouchers and received payment for the submitted vouchers as of April 3, 2024.
Show full finding ▾Hide full finding ▴Finding #2023-001: Section 8 Housing Assistance Payments Program Assistance Listing 14.155– Waters at West Ashley, LP. Condition: The Partnership failed to maintain proper certifications prior to doing on-site transfers governed by the HAP Contract that required multiple months to unravel and resulted in a delay in payment until March 2024. Criteria: The Partnership is required to annually re-certify tenants to ensure they are meeting the HAP Contract requirements and receiving benefits according to their income. Questioned Costs: $639,206 Effect: The Partnership is in violation of the Section 8 Housing Assistance Payments Program. Repeat Finding: No Cause: The Project was undergoing a major rehabilitation and transferred tenants which had lost HUD certification. Recommendation: We recommend the Partnership review the rules that govern the HAP Contract and implement a system to ensure that all new and existing residents are meeting the Contract requirements. Management’s Views: Management is in agreement with the finding and will submit the remaining vouchers with the related certification documentation. Management will implement a process to accurately track unit transfers during a major rehabilitation and maintain the proper tenant certifications. Auditors comment: The Partnership has recertified existing residents, submitted the 2023 vouchers and received payment for the submitted vouchers as of April 3, 2024.
CORRECTIVE ACTION PLAN Name of the Project: Waters at West Ashley, LP FHA/Contract No. SC16-M000-026 Audit Firm: M Group, LLP Audit Period: The year ended December 31, 2023 Compliance Review COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN FINDING #2023-001: Section 8 Housing Assistance Payments Program, Assistance Listing #14.195 CORRECTIVE ACTION: The Partnership will meet the eligibility requirements required by the HAP Contract. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael N. Nguyen, President of Atlantic Housing Management, Inc.
The Partnership failed to renew their HAP Contract before it expired on April 27, 2023, resulting in the Project not receiving subsidy payments from May through December 2023. Criteria: Management should monitor contract terms to ensure the renewal process is started in sufficient time so there is no lapse in the Project receiving subsidies. Effect: The Partnership is without a valid HAP contract. Repeat Finding: No Questioned Cost: $167,975 Cause: Oversight Recommendation: Management should monitor contract terms and have procedures in place to ensure contract coverage does not lapse. Auditor’s Comment: The Partnership submitted a new HAP Contract for approval and received payment for the May through December 2023 subsidies in May 2024.
Show full finding ▾Hide full finding ▴Finding #2023-002: Section 8 Housing Assistance Payments Program 14.195 – Gretna Village, LP Type of Finding: Material Weakness Condition: The Partnership failed to renew their HAP Contract before it expired on April 27, 2023, resulting in the Project not receiving subsidy payments from May through December 2023. Criteria: Management should monitor contract terms to ensure the renewal process is started in sufficient time so there is no lapse in the Project receiving subsidies. Effect: The Partnership is without a valid HAP contract. Repeat Finding: No Questioned Cost: $167,975 Cause: Oversight Recommendation: Management should monitor contract terms and have procedures in place to ensure contract coverage does not lapse. Auditor’s Comment: The Partnership submitted a new HAP Contract for approval and received payment for the May through December 2023 subsidies in May 2024.
CORRECTIVE ACTION PLAN Name and Number of the Project: Gretna Village Partnership VHDA Project Numbers: 02-1709-HF/SP and 02-1710-HCD Audit Firm: M Group, LLP Audit Period: The year ended December 31, 2023 Compliance Review COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN OR TO BE TAKEN FINDING 2023-002: Section 8 Housing Assistance Payments Program, Assistance Listing: 14.195 CORRECTIVE ACTION TO BE COMPLETED: The Partnership is in the process of submitting a new HAP Contract for approval from HUD. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael N. Nguyen, President & CEO of Atlantic Housing Management, Inc.
The Projects paid management fees during 2022 and 2023 at an increased rate of 5% without approval from HUD. Criteria: The Projects property management fees must follow the HUD approved management agreement. Effect: The Projects overpaid property management fees in 2022 and 2023. Questioned Cost: $484,095 Cause: Oversight Repeat Finding: No Recommendation: The Projects need to submit the new management fee rate on HUD Form 9839 for approval. Auditor’s Comment: The Projects are in the process of submitting the updated Form 9839 to HUD for approval.
Show full finding ▾Hide full finding ▴Finding #2023-003: Section 8 Housing Assistance Payments Program Assistance Listing 14.195 Project Name of Afton Gardens, LLC, FHA/Contract No. of VA36L00002, Amount of $18,183; Project Name of Boulder Creek, LLC, FHA/Contract No. of SC16M000064, Amount of $42,313; Project Name of Brentwood Crossing, LLC, FHA/Contract No. of NC19M000070, Amount of $266,088; Project Name of Brittany Woods/Park Chase, LLC, FHA/Contract No. of GA06L00060, Amount of $23,154; Project Name of Cedar Moor, LLC, FHA/Contract No. of NC19L000146, Amount of $14,359; Project Name of Crescent Hills, LLC, FHA/Contract No. of SC16M000062, Amount of $33,321; Project Name of Spring Grove, LLC, FHA/Contract No. of SC16L000003 and SC160056002, Amount of $45,038; Project Name of Timber Ridge, LLC, FHA/Contract No. of NC19M000088, Amount of $26,759; Project Name of Gretna Village, LP, FHA/Contract No. of 02-1709-HF/SP and 02-1710-HCD, Amount of $5,839; Project Name of Waters at James Corssing, LP, FHA/Contract No. of VA36L000130, Amount of $9,041; Total of $484,095. Condition: The Projects paid management fees during 2022 and 2023 at an increased rate of 5% without approval from HUD. Criteria: The Projects property management fees must follow the HUD approved management agreement. Effect: The Projects overpaid property management fees in 2022 and 2023. Questioned Cost: $484,095 Cause: Oversight Repeat Finding: No Recommendation: The Projects need to submit the new management fee rate on HUD Form 9839 for approval. Auditor’s Comment: The Projects are in the process of submitting the updated Form 9839 to HUD for approval.
CORRECTIVE ACTION PLAN Name and Number of the Project: Afton Gardens, LLC, VA36L00002; Boulder Creek, LLC, SC16M000064; Brentwood Crossing, LLC, NC19M000070; Brittany Woods/Park Chase, LLC, GA06L00060; Cedar Moor, LLC, NC19L000146; Crescent Hills, LLC, SC16M000062; Spring Grove, LLC, SC16L000003 and SC160056002; Timber Ridge, LLC, NC19M000088; Gretna Village, LP, 02-1709-HF/SP and 02-1710-HCD; Waters at James Crossing, LP, VA36L000130. Audit Firm: M Group, LLP Audit Period: The year ended December 31, 2023 Compliance Review COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN OR TO BE TAKEN FINDING 2023-003: Section 8 Housing Assistance Payments Program, Assistance Listing 14.195 CORRECTIVE ACTION TO BE COMPLETED: The Projects are in the process of submitting an updated HUD Form 9839 for approval. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael N. Nguyen, President & CEO of Atlantic Housing Management, Inc.
The Corporation did not record credit card charges or reconcile the credit card payable account to the credit card statement during 2023. Criteria: Under GAAP and Uniform Guidance compliance requirements the Corporation is required to account for expenses and liabilities to ensure the financial statements are materially stated and expenses are in compliance with Uniform Guidance requirements. Questioned Costs: $216,657 Effect: The Corporation is not in compliance with Uniform Guidance. Cause: The Corporation has expense report procedures in place, however, these procedures have not been followed. Expense reports and receipts have not been provided or approved by management resulting in the understatement of expenses and liabilities. Repeat Finding: No Recommendation: Management needs to provide oversight and monthly monitoring to ensure employees follow the expense report policies and expenses are proper expenditures of the Corporation and properly recorded in the financial statements. Management’s Views: For unsubmitted expense reports, management will record the proper accrual for expenses.
Show full finding ▾Hide full finding ▴Finding #2023-004: Section 8 Housing Assistance Payments Program Assistance Listing 14.195 and Section 221(d)(4) Insured Loan Program Assistance Listing 14.155 Condition: The Corporation did not record credit card charges or reconcile the credit card payable account to the credit card statement during 2023. Criteria: Under GAAP and Uniform Guidance compliance requirements the Corporation is required to account for expenses and liabilities to ensure the financial statements are materially stated and expenses are in compliance with Uniform Guidance requirements. Questioned Costs: $216,657 Effect: The Corporation is not in compliance with Uniform Guidance. Cause: The Corporation has expense report procedures in place, however, these procedures have not been followed. Expense reports and receipts have not been provided or approved by management resulting in the understatement of expenses and liabilities. Repeat Finding: No Recommendation: Management needs to provide oversight and monthly monitoring to ensure employees follow the expense report policies and expenses are proper expenditures of the Corporation and properly recorded in the financial statements. Management’s Views: For unsubmitted expense reports, management will record the proper accrual for expenses.
CORRECTIVE ACTION PLAN Name and Number of the Project: Atlantic Housing foundation, Inc. Audit Firm: M Group, LLP Audit Period: The year ended December 31, 2023 Compliance Review COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN OR TO BE TAKEN FINDING #2023-004: Section 8 Housing Assistance Payments Program Assistance Listing 14.195 and Section 221(d)(4) Insured Loan Program Assistance Listing 14.155 CORRECTIVE ACTION: Management concurs and agrees to provide oversight and monitor the expense reporting process on a monthly basis to ensure all expenses are proper expenditures of the Corporation and properly recorded in the financial statements. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael Nguyen, President of Atlantic Housing Management, Inc.
The Projects did not recertify or obtain adequate income verification for Section 8 tenants. Criteria: The Projects are required to annually confirm eligibility and maintain documentation in the tenant file including a signed Tenant Income Certification form and income verification documents. Questioned Costs: $125,009 Effect: The Projects are in violation of regulatory requirements governing tenant files and eligibility verification, which could result in the loss of HUD subsidies. Cause: Management’s policies with respect to tenant eligibility and tenant files were not consistently followed. Repeat Finding: No Recommendation: Management should review its tenant eligibility policies and monitoring procedures to ensure compliance. Management Views: Management concurs and agrees to review and monitor policies and procedures regarding tenant eligibility and related documentation.
Show full finding ▾Hide full finding ▴Finding #2023-005: Section 8 Housing Assistance Payments Program Assistance Listing 14.195 - Waters at James Crossing, LP., Brittany Woods/Park Chase, LLC Condition: The Projects did not recertify or obtain adequate income verification for Section 8 tenants. Criteria: The Projects are required to annually confirm eligibility and maintain documentation in the tenant file including a signed Tenant Income Certification form and income verification documents. Questioned Costs: $125,009 Effect: The Projects are in violation of regulatory requirements governing tenant files and eligibility verification, which could result in the loss of HUD subsidies. Cause: Management’s policies with respect to tenant eligibility and tenant files were not consistently followed. Repeat Finding: No Recommendation: Management should review its tenant eligibility policies and monitoring procedures to ensure compliance. Management Views: Management concurs and agrees to review and monitor policies and procedures regarding tenant eligibility and related documentation.
CORRECTIVE ACTION PLAN Name and Number of the Project: See below Audit Firm: M Group, LLP Audit Period: December 31, 2023 Project Name of Waters at James Crossing, LP, FHA/Contract No. VA36-L000-130, Questioned Cost of $52,007; Project Name of Brittany Woods/Park Chase, LLC, FHA/Contract No. GA06L00060, Questioned Cost of $73,002; Total of $125,009. Compliance Review COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN OR TO BE TAKEN FINDING #2023-005: Section 8 Housing Assistance Payments Program, Assistance Listing #14.195 CORRECTIVE ACTION TO BE COMPLETED: The Projects will review and monitor tenant eligibility and documentation procedures to ensure compliance. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael Nguyen, President of Atlantic Housing Management, Inc.
FAC accepted this audit on September 26, 2023 — management decision was due March 26, 2024.
The Partnership failed to set up and submit the monthly Housing Assistance Payments Program vouchers for payment in a timely manner resulting in five months of subsidy rental income not received. Criteria: The Partnership is required to submit monthly vouchers for payment of rental assistance. Questioned Costs: $666,659 Effect: The Partnership is in violation of the Section 8 Housing Assistance Payments Program. Cause: HUD experienced complications setting up the System for Award Management (SAM) number. The partnership filled out the application accurately but when HUD processed the SAM number, it incorrectly contained information for Waters at Ribaut which took several months for HUD to resolve internally. There were additional delays incurred in HUD implementing the correct depository bank account information. Recommendation: We recommend the Partnership submit the missing vouchers for payment. Management?s Views: Management is in agreement with the finding and will submit the remaining vouchers. Auditors comment: Partially Cleared. The Partnership has successfully set up and submitted the August, September, and October 2022 vouchers and received $391,023 in 2023 for all three months.
Show full finding ▾Hide full finding ▴Finding #2022-001: Section 8 Housing Assistance Payments Program, CFDA: 14.195 ? Waters at Augusta, L.P. Condition: The Partnership failed to set up and submit the monthly Housing Assistance Payments Program vouchers for payment in a timely manner resulting in five months of subsidy rental income not received. Criteria: The Partnership is required to submit monthly vouchers for payment of rental assistance. Questioned Costs: $666,659 Effect: The Partnership is in violation of the Section 8 Housing Assistance Payments Program. Cause: HUD experienced complications setting up the System for Award Management (SAM) number. The partnership filled out the application accurately but when HUD processed the SAM number, it incorrectly contained information for Waters at Ribaut which took several months for HUD to resolve internally. There were additional delays incurred in HUD implementing the correct depository bank account information. Recommendation: We recommend the Partnership submit the missing vouchers for payment. Management?s Views: Management is in agreement with the finding and will submit the remaining vouchers. Auditors comment: Partially Cleared. The Partnership has successfully set up and submitted the August, September, and October 2022 vouchers and received $391,023 in 2023 for all three months.
CORRECTIVE ACTION PLAN Name of the Project: Waters at Augusta, LP FHA/Contract No. SC 16-M000-026 Aduit Firm: M Group, LLP Audit Period: The year ended December 31, 2022 Compliance Review: COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN FINDING #2022-001: Section 8 Housing Assistance Payments Program, CFDA: 14.195 CORRECTIVE ACTION: The Partnership will submit the HAP Vouchers on a timely basis. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Un(form Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael Nguyen, President of Atlantic Housing Management, Inc.
During the year ended December 31, 2022, the City of Lynchburg, Virginia Fire Department deemed Building 28 uninhabitable on September 11, 2022 due to health and safety concerns involving the electrical, water and sewage lines. The Project initiated the termination of leases of the affected units and a judge issued a temporary injunction to stop them. Criteria: The Partnership is required to provide decent, safe and sanitary units in accordance with statutory requirements with HUD regulations. Questioned Costs: Unknown. Effect: The Partnership was in violation of HUD regulatory requirements requiring the Partnership to provide decent, safe and sanitary units. Cause: Failure to maintain decent, safe and sanitary conditions could result in the loss of tenant subsidies. Recommendation: Management should review and enhance procedures and monitoring related to the condition of the property and all units. Management?s Views: Management concurs and agreed to provide temporary housing for the affected tenants. Auditors comment: CLEARED. The City of Lynchburg conducted a follow-up inspection and deemed six units habitable. The Partnership is in the process of recertifying the affected tenants with HUD. Tenants are being placed in rehabilitated units as they become available.
Show full finding ▾Hide full finding ▴Finding #2022-002: Section 8 Housing Assistance Payments Program CFDA 14.195 Condition: During the year ended December 31, 2022, the City of Lynchburg, Virginia Fire Department deemed Building 28 uninhabitable on September 11, 2022 due to health and safety concerns involving the electrical, water and sewage lines. The Project initiated the termination of leases of the affected units and a judge issued a temporary injunction to stop them. Criteria: The Partnership is required to provide decent, safe and sanitary units in accordance with statutory requirements with HUD regulations. Questioned Costs: Unknown. Effect: The Partnership was in violation of HUD regulatory requirements requiring the Partnership to provide decent, safe and sanitary units. Cause: Failure to maintain decent, safe and sanitary conditions could result in the loss of tenant subsidies. Recommendation: Management should review and enhance procedures and monitoring related to the condition of the property and all units. Management?s Views: Management concurs and agreed to provide temporary housing for the affected tenants. Auditors comment: CLEARED. The City of Lynchburg conducted a follow-up inspection and deemed six units habitable. The Partnership is in the process of recertifying the affected tenants with HUD. Tenants are being placed in rehabilitated units as they become available.
Name and Number of the Project: Waters at James Crossing, LP FHA/CONTRACT NO. VA36-L000-130 Audit Firm: M Group, LLP Audit Period: The period from December 9, 2021 (Inception) through December 31, 2022 Compliance Review COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN OR TO BE TAKEN FINDING #2022-002: Section 8 Housing Assistance Payments Program, CFDA: 14.195 CORRECTIVE ACTION TO BE COMPLETED: The Partnership is in the process of making repairs to the affected units and recertifying tenants. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael Nguyen, President of Atlantic Housing Management, Inc.
2021-001
The Partnership?s did not maintain current documents in the tenant files, including annual Tenant Income Certification forms and income verification documentation. Criteria: The Partnership?s are required to annually confirm eligibility and maintain documentation in the tenant file including a signed Tenant Income Certification form and income verification documents. Questioned Costs: Unknown Effect: The Partnership?s are in violation of regulatory requirements governing tenant files and eligibility verification, which could result in the loss of HUD subsidies. Cause: Management?s policies with respect to tenant eligibility and tenant files were not consistently followed. Recommendation: Management should review its tenant eligibility policies and monitoring procedures to ensure compliance. Management Views: Management concurs and agrees to review and monitor policies and procedures regarding tenant eligibility and related documentation.
Show full finding ▾Hide full finding ▴Finding #2022-003: Section 8 Housing Assistance Payments Program CFDA 14.195 Condition: The Partnership?s did not maintain current documents in the tenant files, including annual Tenant Income Certification forms and income verification documentation. Criteria: The Partnership?s are required to annually confirm eligibility and maintain documentation in the tenant file including a signed Tenant Income Certification form and income verification documents. Questioned Costs: Unknown Effect: The Partnership?s are in violation of regulatory requirements governing tenant files and eligibility verification, which could result in the loss of HUD subsidies. Cause: Management?s policies with respect to tenant eligibility and tenant files were not consistently followed. Recommendation: Management should review its tenant eligibility policies and monitoring procedures to ensure compliance. Management Views: Management concurs and agrees to review and monitor policies and procedures regarding tenant eligibility and related documentation.
CORRECTIVE ACTION PLAN Name and Number of the Project: See below Audit Firm: M Group, LLP Audit Period: The period from December 9, 2021 (Inception) through December 31, 2022 Gretna Village, LP VHDA (Project No. 02-1709-HF/SP and 02-1710-HCD) $ Unknown Waters at James Crossing, LP (FHA/Contract No. VA36-L000-130) $ Unknown Waters at Augusta, LP (FHA/Contract No. SC16-M000-060) $ Unknown Compliance Review COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN OR TO BE TAKEN FINDING #2022-003: Section 8 Housing Assistance Payments Program. CFDA: 14.195 CORRECTIVE ACTION TO BE COMPLETED: The Project's will review and monitor tenant eligibility and documentation procedures to ensure compliance. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 US. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael Nguyen, President of Atlantic Housing Management, Tnc.
The Projects do not have a process in place to void uncashed utility reimbursement checks and return funds to HUD on a timely basis. Criteria: The HAP contracts require the Projects to void the check and return the funds to HUD as an adjustment on the voucher. Effect: The Projects are in violation of their HAP contracts. Questioned Cost: $39,694 Cause: Oversight Recommendation: The Projects should review the compliance requirements and establish controls and procedures to properly account for the payment of the reimbursement to the tenant and the return of funds to HUD on tenant reimbursement checks not cashed. Auditor?s Comment: The Projects have plans to establish a process to track utility reimbursements. The Projects will remit $39,694 to HUD for utility reimbursement checks not cashed.
Show full finding ▾Hide full finding ▴Finding #2022-004: Section 8 Housing Assistance Payments Program CFDA 14.195 Condition: The Projects do not have a process in place to void uncashed utility reimbursement checks and return funds to HUD on a timely basis. Criteria: The HAP contracts require the Projects to void the check and return the funds to HUD as an adjustment on the voucher. Effect: The Projects are in violation of their HAP contracts. Questioned Cost: $39,694 Cause: Oversight Recommendation: The Projects should review the compliance requirements and establish controls and procedures to properly account for the payment of the reimbursement to the tenant and the return of funds to HUD on tenant reimbursement checks not cashed. Auditor?s Comment: The Projects have plans to establish a process to track utility reimbursements. The Projects will remit $39,694 to HUD for utility reimbursement checks not cashed.
CORRECTIVE ACTION PLAN Name and Number of the Project: See below Audit Firm: M Group, LLP Audit Period: The year ended December 31, 2022 Projects: Afton Gardens, LLC (FHA/Contract No. VA36L00002) $1,223 Boulder Creek, LLC (FHA/Contract No. SC 16M000064) $2,897 Brentwood Crossing, LLC (FHA/Contract No. NC19M000070) $4,457 Brittany Woods/Park Chase, LLC (FHA/Contract No. GA06L00060) $7,933 Cedar Moor, LLC (FHA/Contract No. NC19L000146) $2,296 Crescent Hills, LLC (FHA/Contract No. SC16M000062) $5,071 Spring Grove, LLC (FHA/Contract No. SC 16L000003 and SC 160056002) $3,122 Temple Court, LLC (FHA/Contract No. FL29A002001) $239 Timber Ridge, LLC (FHA/Contract No. NC19M000088) $8,980 Roosevelt Gardens, LLC (FHA/Contract No. SC16M00005l) $1,754 Gretna Village, LP (FHA/Contract No. 02-1709-HF/SP and 02-1710-HCD) $1,722 Compliance Review We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN OR TO BE TAKEN FINDING 2022-004: Section 8 Housing Assistance Payments Program, CFDA: 14.195 CORRECTIVE ACTION TO BE COMPLETED: During 2022, the Projects attempted to remit utility reimbursement funds to HUD. However, the remittance was not accepted by HUD due to insufficient information. The Projects will remit tenant utility reimbursement checks not cashed to HUD. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael N. Nguyen, President & CEO of Atlantic Housing Management, Inc.
2021-001
The liability for several Projects security deposits exceeded the security deposit cash account at December 31, 2022. Criteria: The HUD regulatory agreement requires the Company to maintain the security deposit in a trust account separate from other funds in an amount which at all times equals or exceeds the outstanding security deposit obligation. Effect: The Projects are in violation of their HUD/HAP contracts. Questioned Cost: $9,897 Cause: Oversight Recommendation: We recommend the Company deposit all security deposits directly into the trust account for security deposits in an amount sufficient to cover the security deposit liability. Management Views: Management is in agreement with the finding and will deposit the deficient funds into the respective Projects security deposit accounts. Status: Cleared. The Projects have deposited a total of $9,897 into their respective security deposit accounts. The security deposit shortfall has been corrected.
Show full finding ▾Hide full finding ▴Finding #2022-005: Section 221(d)(4) HUD Insured Loan, CFDA 14.135 and Section 8 Housing Assistance Payments Program CDFA 14.195 Condition: The liability for several Projects security deposits exceeded the security deposit cash account at December 31, 2022. Criteria: The HUD regulatory agreement requires the Company to maintain the security deposit in a trust account separate from other funds in an amount which at all times equals or exceeds the outstanding security deposit obligation. Effect: The Projects are in violation of their HUD/HAP contracts. Questioned Cost: $9,897 Cause: Oversight Recommendation: We recommend the Company deposit all security deposits directly into the trust account for security deposits in an amount sufficient to cover the security deposit liability. Management Views: Management is in agreement with the finding and will deposit the deficient funds into the respective Projects security deposit accounts. Status: Cleared. The Projects have deposited a total of $9,897 into their respective security deposit accounts. The security deposit shortfall has been corrected.
CORRECTIVE ACTION PLAN Name and Number of the Project: See below Audit Firm: M Group, LLP Audit Period: The year ended December 31, 2022 Projects: Waters at Berryhill, LP (HUD Project No. 054-35841) $2,995 Afton Gardens, LLC (FHA/Contract No. VA36L00002) $1,587 Spring Grove, LLC (FHA/Contract No. SC16L00003 and SC160056002) $4,214 Temple Court, LLC (FHA/Contract No. FL29A002001) $1,101 Compliance Review COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN OR TO BE TAKEN FINDING 2022-005: Section 8 Housing Assistance Payments Program, CFDA: 14.195 Section 221(d)(4) HUD Insured Loan, CFDA 14.135 CORRECTIVE ACTION TO BE COMPLETED: The Projects listed above have deposited the amounts noted into their respective security deposit accounts. Finding CLEARED. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 US. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael N. Nguyen, President & CEO of Atlantic Housing Management, Inc.
2021-001
In December 2022, the Partnership made related party repayments of $60,677. Cash available for distribution June 30, 2022 and December 31, 2021 was $-0-. The Partnership made payments in excess of surplus cash of $60,677. Criteria: The HUD Regulatory Agreement requires the Partnership to calculate surplus cash at mid-year and year-end to determine the amount of surplus cash available for distribution. Questioned Costs: $60,677 Effect: The Partnership is in violation of HUD regulatory requirements governing surplus cash distributions. Cause: The timing of surplus cash. Recommendation: Management should review the Regulatory Agreement to ensure they are familiar with all the terms of the agreement. Management?s Views: Management is in agreement with the finding. Auditors comment: CLEARED. Although distributions were made prior to year-end, repayment is not necessary as the Partnership had sufficient surplus cash at December 31, 2022.
Show full finding ▾Hide full finding ▴Finding #2022-006: Section 221(d)(4) HUD Insured Loan, CFDA 14.135 Condition: In December 2022, the Partnership made related party repayments of $60,677. Cash available for distribution June 30, 2022 and December 31, 2021 was $-0-. The Partnership made payments in excess of surplus cash of $60,677. Criteria: The HUD Regulatory Agreement requires the Partnership to calculate surplus cash at mid-year and year-end to determine the amount of surplus cash available for distribution. Questioned Costs: $60,677 Effect: The Partnership is in violation of HUD regulatory requirements governing surplus cash distributions. Cause: The timing of surplus cash. Recommendation: Management should review the Regulatory Agreement to ensure they are familiar with all the terms of the agreement. Management?s Views: Management is in agreement with the finding. Auditors comment: CLEARED. Although distributions were made prior to year-end, repayment is not necessary as the Partnership had sufficient surplus cash at December 31, 2022.
CORRECTIVE ACTION PLAN Name of the Project: Waters at Magnolia Bay, LP No. 054-35898 Audit Firm: M Group, LLP Audit Period: The period ended December 31, 2022 Compliance Review COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN FINDING #2022-006: Section 22l(d)(4) HUD Insured Loan, CFDA 14.135 CORRECTIVE ACTION COMPLETED: Management has reviewed the Regulatory Agreement to ensure they are familiar with all the terms of the agreement. The Partnership had sufficient surplus cash at December 31, 2022. Finding CLEARED. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Michael N. Nguyen.
2021-001
FAC accepted this audit on July 6, 2022 — management decision was due January 6, 2023.
Section I ? Summary of Auditor?s Results Financial Statements Type of auditor?s report issued: Unmodified Internal Control over Financial Reporting: Material weakness identified No Reportable condition identified not considered to be a material weakness? None reported Noncompliance material to financial statements noted No Federal Awards Internal Control over Major Programs: Material weakness identified No Reportable condition identified not considered to be a material weakness Yes Type of auditor?s report issued on compliance for major programs: Qualified Any audit findings disclosed that are required to be reported in accordance with of Title 2 U. S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost, Principles, and Audits Requirements for Federal Awards (Uniform Guidance) Yes Identification of Major Programs: CFDA Name of Federal Program or Cluster 14.195 Section 8 Housing Assistance Payments Program 14.155 Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Dollar threshold used to distinguish between Type A and Type B programs: $750,000 Auditee qualified as low risk auditee: No Section II ? Financial Statement Findings: No matters were reported
Show full finding ▾Hide full finding ▴Section I ? Summary of Auditor?s Results Financial Statements Type of auditor?s report issued: Unmodified Internal Control over Financial Reporting: Material weakness identified No Reportable condition identified not considered to be a material weakness? None reported Noncompliance material to financial statements noted No Federal Awards Internal Control over Major Programs: Material weakness identified No Reportable condition identified not considered to be a material weakness Yes Type of auditor?s report issued on compliance for major programs: Qualified Any audit findings disclosed that are required to be reported in accordance with of Title 2 U. S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost, Principles, and Audits Requirements for Federal Awards (Uniform Guidance) Yes Identification of Major Programs: CFDA Name of Federal Program or Cluster 14.195 Section 8 Housing Assistance Payments Program 14.155 Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Dollar threshold used to distinguish between Type A and Type B programs: $750,000 Auditee qualified as low risk auditee: No Section II ? Financial Statement Findings: No matters were reported
CORRECTIVE ACTION PLAN Name and Number of the Project See below Audit Firm M Group, LLP Audit Period The year ended December 31, 2021 Compliance Review COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN OR TO BE TAKEN FINDING 1: Section 8 Housing Assistance Payments Program, CFDA: 14.195 CORRECTIVE ACTION TO BE COMPLETED: The Projects will remit $45,803 to HUD for tenant utility reimbursement checks not cashed. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael Nguyen, President of Atlantic Housing Management, Inc. ______________________________________ Michael Nguyen, President Atlantic Housing Management, Inc. Employer Identification No: 27-2452190
2020-001
FAC accepted this audit on June 9, 2022 — management decision was due December 9, 2022.
The Projects do not have a process in place to void uncashed utility reimbursement checks and return funds to HUD on a timely basis. Criteria: The HAP contracts require the Projects to void the check and return the funds to HUD as an adjustment on the voucher. Effect: The Projects are in violation of their HAP contracts. Questioned Cost: $53,034. Cause: Oversight. Recommendation: The Projects should review the compliance requirements and establish controls and procedures to properly account for the payment of the reimbursement to the tenant and the return of funds to HUD on tenant reimbursement checks not cashed. Auditor?s Comment: The Projects have plans to establish a process to track utility reimbursements. The Projects will remit $53,034 to HUD for utility reimbursement checks not cashed.
Show full finding ▾Hide full finding ▴Finding #2020-001: Section 8 Housing Assistance Payments Program CFDA 14.195. Condition: The Projects do not have a process in place to void uncashed utility reimbursement checks and return funds to HUD on a timely basis. Criteria: The HAP contracts require the Projects to void the check and return the funds to HUD as an adjustment on the voucher. Effect: The Projects are in violation of their HAP contracts. Questioned Cost: $53,034. Cause: Oversight. Recommendation: The Projects should review the compliance requirements and establish controls and procedures to properly account for the payment of the reimbursement to the tenant and the return of funds to HUD on tenant reimbursement checks not cashed. Auditor?s Comment: The Projects have plans to establish a process to track utility reimbursements. The Projects will remit $53,034 to HUD for utility reimbursement checks not cashed.
Name and Number of the Project: See below - "SEE CORRECTIVE ACTION PLAN for chart/table" Audit Firm: M Group, LLP Audit Period: The year ended December 31, 2020 "SEE CORRECTIVE ACTION PLAN for chart/table". Compliance Review: COMMENTS ON FINDINGS AND RECOMMENDATIONS: We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN OR TO BE TAKEN: FINDING 1: Section 8 Housing Assistance Payments Program, CFDA: 14.195. CORRECTIVE ACTION TO BE COMPLETED: The Projects will remit $53,034 to HUD for tenant utility reimbursement checks not cashed. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Michael Nguyen, President of Atlantic Housing Management, Inc.
2019-001
FAC accepted this audit on October 20, 2019 — management decision was due April 20, 2020.
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