EIN: 581736405
UEI: GW79QDKG56L9
Audited by: PLANTE & MORAN, PLLC
Oversight 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 August 19, 2025. 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 February 19, 2026 (196 days ago).
What is a management decision? →FAC accepted this audit on April 30, 2024 — management decision was due October 30, 2024.
FAC accepted this audit on December 21, 2022 — management decision was due June 21, 2023.
The Corporation failed to make the required reserve for replacements deposits in the current fiscal year due to cash flow shortages which were in part due to not receiving PRAC payments for a portion of the year. The Corporation made 12 deposits of $1,170 rather then the required deposit amount of $4,900. Cause: The Corporation monitored the cash requirements of the reserve for replacement account as specified by the regulatory agreement, however the Corporation was unable to make the required deposits due to cash flow shortages. Effect or Potential Effect: The replacement reserve account was underfunded in the current fiscal year by $14,700. Auditor Noncompliance Code: N Reserve for replacements deposits Reporting Views of Responsible Officials: Management agrees with the underfunded amount at August 31, 2022. Context: The replacement reserve deposit increase was not able to be made due to cash flow shortages. The Corporation received outstanding PRAC payments subsequent to year end and are making payments to correct the underfunding. Recommendation: All required deposits should be made in accordance with the regulatory agreement. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management should make the required reserve for replacements deposits in the current fiscal year. Response Indicator: Agree Completion Date: August 31, 2023 Response: Management acknowledges noncompliance in the current fiscal year which were due to cash flow shortages and delays in obtaining a new PRAC contract. Management will be making payments during the year ended August 31, 2022 in order to correct the funding of the replacement reserve account.
Show full finding ▾Hide full finding ▴Finding Type: Noncompliance which could have a direct and material effect on the major programs Title and CFDA Number of Federal Program: 14.157 Supportive Housing for the Elderly (Section 202) Capital Advance Finding Resolution Status: In Process Information on Universe and Population Size: All replacement reserve deposits were audited which totals twelve monthly deposits Sample Size Information: All replacement reserve deposits were audited which totals twelve monthly deposits Identification of Repeat Finding and Finding Reference Number: n/a Criteria: The Corporation should have made 12 monthly deposits of $4,900 into the reserve for replacements account as required by the regulatory agreement. Statement of Condition: The Corporation failed to make the required reserve for replacements deposits in the current fiscal year due to cash flow shortages which were in part due to not receiving PRAC payments for a portion of the year. The Corporation made 12 deposits of $1,170 rather then the required deposit amount of $4,900. Cause: The Corporation monitored the cash requirements of the reserve for replacement account as specified by the regulatory agreement, however the Corporation was unable to make the required deposits due to cash flow shortages. Effect or Potential Effect: The replacement reserve account was underfunded in the current fiscal year by $14,700. Auditor Noncompliance Code: N Reserve for replacements deposits Reporting Views of Responsible Officials: Management agrees with the underfunded amount at August 31, 2022. Context: The replacement reserve deposit increase was not able to be made due to cash flow shortages. The Corporation received outstanding PRAC payments subsequent to year end and are making payments to correct the underfunding. Recommendation: All required deposits should be made in accordance with the regulatory agreement. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management should make the required reserve for replacements deposits in the current fiscal year. Response Indicator: Agree Completion Date: August 31, 2023 Response: Management acknowledges noncompliance in the current fiscal year which were due to cash flow shortages and delays in obtaining a new PRAC contract. Management will be making payments during the year ended August 31, 2022 in order to correct the funding of the replacement reserve account.
Finding Number: 2022-001 Condition: The Corporation failed to make the required reserve for replacements deposits in the current fiscal year due to cash flow shortages which were in part due to not receiving PRAC payments for a portion of the year. The Corporation made 12 deposits of $1,170 rather then the required deposit amount of $4,900. Planned Corrective Action: Management acknowledges noncompliance in the current fiscal year which were due to cash flow shortages and delays in obtaining a new PRAC contract. Management will be making payments during the year ended August 31, 2023 in order to correct the funding of the replacement reserve account. Contact Person Responsible for Corrective Action: Jill Kolb, VP - Housing Accounting Anticipated Completion Date ?August 31, 2023
2021-001
FAC accepted this audit on November 22, 2021 — management decision was due May 22, 2022.
The Corporation failed to make the required reserve for replacements deposits in the current fiscal year due to cash flow shortages which were in part due to not receiving PRAC payments for a portion of the year. The Corporation made 12 deposits of $1,170 rather then the required deposit amount of $4,900. Cause: The Corporation monitored the cash requirements of the reserve for replacement account as specified by the regulatory agreement, however the Corporation was unable to make the required deposits due to cash flow shortages. Effect or Potential Effect: The replacement reserve account was underfunded in the current fiscal year by $44,760. Auditor Noncompliance Code: N Reserve for replacements deposits Reporting Views of Responsible Officials: Management agrees with the underfunded amount at August 31, 2021. Context: The replacement reserve deposit increase was not able to be made due to cash flow shortages. The Corporation received outstanding PRAC payments subsequent to year end and are making payments to correct the underfunding. Recommendation: All required deposits should be made in accordance with the regulatory agreement. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management should make the required reserve for replacements deposits in the current fiscal year. Response Indicator: Agree Completion Date: August 31, 2022 Response: Management acknowledges noncompliance in the current fiscal year which were due to cash flow shortages and delays in obtaining a new PRAC contract. Management will be making payments during the year ended August 31, 2022 in order to correct the funding of the replacement reserve account.
Show full finding ▾Hide full finding ▴Finding Type: Noncompliance which could have a direct and material effect on the major programs Title and CFDA Number of Federal Program: 14.157 Supportive Housing for the Elderly (Section 202) Capital Advance Finding Resolution Status: In Process Information on Universe and Population Size: All replacement reserve deposits were audited which totals twelve monthly deposits Sample Size Information: All replacement reserve deposits were audited which totals twelve monthly deposits Identification of Repeat Finding and Finding Reference Number: n/a Criteria: The Corporation should have made 12 monthly deposits of $4,900 into the reserve for replacements account as required by the regulatory agreement. Statement of Condition: The Corporation failed to make the required reserve for replacements deposits in the current fiscal year due to cash flow shortages which were in part due to not receiving PRAC payments for a portion of the year. The Corporation made 12 deposits of $1,170 rather then the required deposit amount of $4,900. Cause: The Corporation monitored the cash requirements of the reserve for replacement account as specified by the regulatory agreement, however the Corporation was unable to make the required deposits due to cash flow shortages. Effect or Potential Effect: The replacement reserve account was underfunded in the current fiscal year by $44,760. Auditor Noncompliance Code: N Reserve for replacements deposits Reporting Views of Responsible Officials: Management agrees with the underfunded amount at August 31, 2021. Context: The replacement reserve deposit increase was not able to be made due to cash flow shortages. The Corporation received outstanding PRAC payments subsequent to year end and are making payments to correct the underfunding. Recommendation: All required deposits should be made in accordance with the regulatory agreement. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management should make the required reserve for replacements deposits in the current fiscal year. Response Indicator: Agree Completion Date: August 31, 2022 Response: Management acknowledges noncompliance in the current fiscal year which were due to cash flow shortages and delays in obtaining a new PRAC contract. Management will be making payments during the year ended August 31, 2022 in order to correct the funding of the replacement reserve account.
Finding Number: 2021-001 Condition: The Corporation failed to make the required reserve for replacements deposits in the current fiscal year due to cash flow shortages which were in part due to not receiving PRAC payments for a portion of the year. The Corporation made 12 deposits of $1,170 rather then the required deposit amount of $4,900. Planned Corrective Action: Management acknowledges noncompliance in the current fiscal year which were due to cash flow shortages and delays in obtaining a new PRAC contract. Management will be making payments during the year ended August 31, 2022 in order to correct the funding of the replacement reserve account. Contact Person Responsible for Corrective Action: Jill Kolb, VP - Housing Accounting Anticipated Completion Date ?August 31, 2022
FAC accepted this audit on October 18, 2020 — management decision was due April 18, 2021.
FAC accepted this audit on November 3, 2019 — management decision was due May 3, 2020.
FAC accepted this audit on November 14, 2018 — management decision was due May 14, 2019.
FAC accepted this audit on December 5, 2017 — management decision was due June 5, 2018.
FAC accepted this audit on November 27, 2016 — management decision was due May 27, 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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