EIN: 581828374
UEI: VJU8SLJJMJB3
Data as of August 26, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 13, 2022. 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 13, 2022 (1414 days ago).
What is a management decision? →During the year ended June 30, 2021 there was an unauthorized withdrawal from the reserve for replacements account of $5,527. Criteria: HUD Handbook 4370.2 REV-1 CHG-1, Chapter 2, Section 2-7 and the Regulatory Agreement specifies that the replacement reserve account must be maintained in a separate account, with monthly deposits made as required and that HUD approvals are required prior to any withdrawals. Effect: Noncompliance with HUD regulations. Cause: Mortgagee erroneously wrote a check from the wrong account. Context: Auditor reviewed the confirmation from the mortgagee and noted one reserve withdrawal of $5,527 during the year. Auditor then reviewed HUD Form 9250 for approval, noting the withdrawal was approved from the debt service savings account instead of the reserve for replacements account. Questioned Costs: N/A Recommendation: Management should ensure that the unauthorized withdrawal is returned to the reserve for replacements account. Views of Responsible Officials and Corrective Action Plan: Management acknowledges that the funds were withdrawn from the wrong account. Management will contact the mortgagee and advise them to refund the reserve for replacements from the debt service savings account.
Show full finding ▾Hide full finding ▴Statement of Condition: During the year ended June 30, 2021 there was an unauthorized withdrawal from the reserve for replacements account of $5,527. Criteria: HUD Handbook 4370.2 REV-1 CHG-1, Chapter 2, Section 2-7 and the Regulatory Agreement specifies that the replacement reserve account must be maintained in a separate account, with monthly deposits made as required and that HUD approvals are required prior to any withdrawals. Effect: Noncompliance with HUD regulations. Cause: Mortgagee erroneously wrote a check from the wrong account. Context: Auditor reviewed the confirmation from the mortgagee and noted one reserve withdrawal of $5,527 during the year. Auditor then reviewed HUD Form 9250 for approval, noting the withdrawal was approved from the debt service savings account instead of the reserve for replacements account. Questioned Costs: N/A Recommendation: Management should ensure that the unauthorized withdrawal is returned to the reserve for replacements account. Views of Responsible Officials and Corrective Action Plan: Management acknowledges that the funds were withdrawn from the wrong account. Management will contact the mortgagee and advise them to refund the reserve for replacements from the debt service savings account.
ACCESSIBLE APARTMENTS OF CHARLOTTE, INC. Hickory Grove Road Charlotte, North Carolina CORRECTIVE ACTION PLAN September 16, 2021 U. S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303-2806 Accessible Apartments of Charlotte, Inc. respectfully submits the following Corrective Action Plan for the year ended June 30, 2021. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 Audit period: Year ended June 30, 2021 The finding from the June 30, 2021 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings - Federal Award Programs Audits Finding No. 2021-001: Mortgage Insurance for the Purchase or Refinance of Existing Multifamily House Projects (Section 223(f)/207), CFDA #14.155 Recommendation : Management should ensure that the unauthorized withdrawal is returned to the reserve for replacements account. Action Taken: Management acknowledges that the funds were withdrawn from the wrong account. Management will contact the mortgagee and advise them to refund the reserve for replacements from the debt service savings account. If HUD has questions regarding this plan, please call Mr. John Nichols at (336) 765-3906. Sincerely yours, John Nichols Managing Agent North Carolina Housing Services and Management, Inc.
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