EIN: 581480523
UEI: NZCFTXB1F9F4
Audited by: Dauby O'Connor & Zaleski, LLC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 12, 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 July 12, 2026 (62 days ago).
What is a management decision? →FAC accepted this audit on September 25, 2024 — management decision was due March 25, 2025.
FAC accepted this audit on November 28, 2023 — management decision was due May 28, 2024.
Assistance Listing (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects No. 14.155 (Section 207 pursuant to Section 223(f) loan identification number 053-11199, year 2006) Auditor non-compliance code: G – Unauthorized loans from project funds 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. Statistically valid sample: Not applicable. Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: Not applicable Questioned costs: $3,098 Statement of condition #2023-001: The Corporation paid for refinancing legal fees totaling $3,098 from operational cash during the year ended June 30, 2023. Criteria: Pursuant to Section 6 of the Section 207 pursuant to 223(f) Regulatory Agreement, the Corporation's operational cash should not be used to pay for expenses outside reasonable operating expenses and necessary repairs of the Property. The payments of corporate/mortgagor entity expenses or obligations must be limited to Board contributions or approval from HUD. Effect: The Corporation is not in compliance with the Section 207 pursuant to 223(f) Regulatory Agreement. Cause: The refinancing legal fees were inadvertently paid from operating cash. Recommendation: Management should seek reimbursement for the reserve for replacements or the Board of Directors. Management's response: Agree. Management is seeking reimbursement for the legal fees paid from operational cash.
Show full finding ▾Hide full finding ▴Assistance Listing (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects No. 14.155 (Section 207 pursuant to Section 223(f) loan identification number 053-11199, year 2006) Auditor non-compliance code: G – Unauthorized loans from project funds 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. Statistically valid sample: Not applicable. Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: Not applicable Questioned costs: $3,098 Statement of condition #2023-001: The Corporation paid for refinancing legal fees totaling $3,098 from operational cash during the year ended June 30, 2023. Criteria: Pursuant to Section 6 of the Section 207 pursuant to 223(f) Regulatory Agreement, the Corporation's operational cash should not be used to pay for expenses outside reasonable operating expenses and necessary repairs of the Property. The payments of corporate/mortgagor entity expenses or obligations must be limited to Board contributions or approval from HUD. Effect: The Corporation is not in compliance with the Section 207 pursuant to 223(f) Regulatory Agreement. Cause: The refinancing legal fees were inadvertently paid from operating cash. Recommendation: Management should seek reimbursement for the reserve for replacements or the Board of Directors. Management's response: Agree. Management is seeking reimbursement for the legal fees paid from operational cash.
Comments on the Finding and Each Recommendation: The Corporation paid for refinancing legal fees totaling $3,098 from operational cash during the year ended June 30, 2023. Management should seek reimbursement for the reserve for replacements or the Board of Directors. Action(s) taken or planned on the finding: Management agrees with the recommendation. Management is seeking reimbursement for the legal fees paid from operational cash.
FAC accepted this audit on January 29, 2023 — management decision was due July 29, 2023.
FAC accepted this audit on October 25, 2021 — management decision was due April 25, 2022.
FAC accepted this audit on January 13, 2021 — management decision was due July 13, 2021.
FAC accepted this audit on April 2, 2020 — management decision was due October 2, 2020.
FAC accepted this audit on January 1, 2019 — management decision was due July 1, 2019.
FAC accepted this audit on October 25, 2017 — management decision was due April 25, 2018.
FAC accepted this audit on December 5, 2016 — management decision was due June 5, 2017.
Data source: This information comes from the Federal Audit Clearinghouse, the official repository of Single Audit data. All data is public domain. Verify this organization's audit history at fac.gov.
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