EIN: 581805529
UEI: XY5RVL24NA83
Audited by: Maddox & Associates, APC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 20, 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 20, 2026 (41 days ago).
What is a management decision? →FAC accepted this audit on October 16, 2024 — management decision was due April 16, 2025.
The security deposit account is not fully funded.
Show full finding ▾Hide full finding ▴The security deposit account is not fully funded.
Management Agrees with the finding. The security deposit deficiency was funded on July 3, 2024 in the amount of $500. Management will ensure that the security deposits are properly funded in the future.
FAC accepted this audit on January 30, 2024 — management decision was due July 30, 2024.
The project did not offset the monthly Section 8 Housing Assistance Payments.
Show full finding ▾Hide full finding ▴The project did not offset the monthly Section 8 Housing Assistance Payments.
Management agrees with the finding. The excess funds were accrued to offset future Section 8 HAP requests.
2022-001
FAC accepted this audit on December 26, 2022 — management decision was due June 26, 2023.
The project did not offset the monthly Section 8 Housing Assistance Payments. Cause: Residual Receipts account balance was not monitored. Effect or Potential Effect: Residual Receipts account was not used to offset project operating costs. Auditor Non-Compliance Code: R Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The excess funds were accrued to offset future Section 8 HAP requests. Context: The project did not offset the monthly Section 8 Housing Assistance Payments. Recommendation: Management should monitor the Residual Receipts account balance and apply excess deposits against Section 8 HAP requests. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The excess funds were accrued to offset future Section 8 HAP requests. Response Indicator: Agree Completion Date: August 12, 2022 Response: Management agrees with the finding. The excess funds were accrued to offset future Section 8 HAP requests.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2022-001 Type of Finding: FA Finding Resolution Status: In Process Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: Per Notice H-2012-14, "Residual Receipts account balances in excess of $250 per unit must be applied on a monthly basis to offset Section 8 HAP payments up to the full amount of the monthly subsidy request, depending upon the amount of Residual Receipts available for the offset. Monthly offsets must continue until the Residual Receipts account reaches the Retained Balance level of $250 per unit." Statement of Condition: The project did not offset the monthly Section 8 Housing Assistance Payments. Cause: Residual Receipts account balance was not monitored. Effect or Potential Effect: Residual Receipts account was not used to offset project operating costs. Auditor Non-Compliance Code: R Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The excess funds were accrued to offset future Section 8 HAP requests. Context: The project did not offset the monthly Section 8 Housing Assistance Payments. Recommendation: Management should monitor the Residual Receipts account balance and apply excess deposits against Section 8 HAP requests. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The excess funds were accrued to offset future Section 8 HAP requests. Response Indicator: Agree Completion Date: August 12, 2022 Response: Management agrees with the finding. The excess funds were accrued to offset future Section 8 HAP requests.
Finding Reference Number: 2022-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The excess funds were accrued to offset future Section 8 HAP requests. Completion Date: August 12, 2022
FAC accepted this audit on October 27, 2021 — management decision was due April 27, 2022.
FAC accepted this audit on November 8, 2020 — management decision was due May 8, 2021.
FAC accepted this audit on October 15, 2019 — management decision was due April 15, 2020.
The project did not offset the monthly Section 8 Housing Assistance Payments. Cause: Management did not initiate the process to offset the project?s housing assistance payments for the prior years? excess amount of residual receipts. Effect or Potential Effect: Residual Receipts account was not used to offset project operating costs. Auditor Non-Compliance Code: R Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. At present, due to the mortgage refinancing that took place after the excess amount of residual receipts was determined, management intends to use the excess residual receipts to make payments on residual receipts notes that were issued in conjunction with the refinancing of the project?s mortgage. Context: Management is requesting HUD approval to utilize residual receipts to make payments on residual receipts notes. As a result, management will delay the offsetting of any housing assistance payments because the excess amounts will likely be used to paydown the residual receipts notes. HUD has indicated that it will approve management?s request once it?s submitted. Recommendation: Management should submit form 9250 for HUD approval to either utilize residual receipts to pay the residual receipts notes or to begin offsetting Section 8 HAP requests. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. They?re currently working on submitting a request to HUD that will allow them to utilize residual receipts for payment of the notes. Should HUD deny this request, they?ll submit a second request to initiate the offsetting of future Section 8 HAP requests. Response Indicator: Agree Completion Date: September 5, 2019 Response: Management is in the process of seeking HUD?s approval to either utilize residual receipts to pay the residual receipts notes or to begin offsetting Section 8 HAP requests.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2019-001 Type of Finding: FA Finding Resolution Status: In Process Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: Per Notice H-2012-14, "Residual Receipts account balances in excess of $250 per unit must be applied on a monthly basis to offset Section 8 HAP payments up to the full amount of the monthly subsidy request, depending upon the amount of Residual Receipts available for the offset. Monthly offsets must continue until the Residual Receipts account reaches the Retained Balance level of $250 per unit." Statement of Condition: The project did not offset the monthly Section 8 Housing Assistance Payments. Cause: Management did not initiate the process to offset the project?s housing assistance payments for the prior years? excess amount of residual receipts. Effect or Potential Effect: Residual Receipts account was not used to offset project operating costs. Auditor Non-Compliance Code: R Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. At present, due to the mortgage refinancing that took place after the excess amount of residual receipts was determined, management intends to use the excess residual receipts to make payments on residual receipts notes that were issued in conjunction with the refinancing of the project?s mortgage. Context: Management is requesting HUD approval to utilize residual receipts to make payments on residual receipts notes. As a result, management will delay the offsetting of any housing assistance payments because the excess amounts will likely be used to paydown the residual receipts notes. HUD has indicated that it will approve management?s request once it?s submitted. Recommendation: Management should submit form 9250 for HUD approval to either utilize residual receipts to pay the residual receipts notes or to begin offsetting Section 8 HAP requests. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. They?re currently working on submitting a request to HUD that will allow them to utilize residual receipts for payment of the notes. Should HUD deny this request, they?ll submit a second request to initiate the offsetting of future Section 8 HAP requests. Response Indicator: Agree Completion Date: September 5, 2019 Response: Management is in the process of seeking HUD?s approval to either utilize residual receipts to pay the residual receipts notes or to begin offsetting Section 8 HAP requests.
Finding Reference Number: 2019-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management is in the process of seeking HUD?s approval to either utilize residual receipts to pay the residual receipts notes or to begin offsetting Section 8 HAP requests. Completion Date: September 5, 2019
FAC accepted this audit on November 5, 2018 — management decision was due May 5, 2019.
FAC accepted this audit on December 3, 2017 — management decision was due June 3, 2018.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on November 21, 2016 — management decision was due May 21, 2017.
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