EIN: 591735068
UEI: MGB8HLJMLST5
Data as of August 26, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on June 11, 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 December 11, 2025 (258 days ago).
What is a management decision? →At December 31, 2024, the Corporation had $10,731.13 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limited established for federal deposit insurance. If funds exceed the amount covered by federal deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Cause of Condition: Management did not transfer funds to separate financial institutions in a timely manner to provide for continuous FDIC insurance coverage. Effect of Condition: Noncompliance with USDA RD requirements and risk of loss of the Organization's funds. Recommendation: The Organization should continuously monitor cash balances to ensure that funds are always covered by FDIC insurance limits, collateral agreements are obtained, or funds are invested in government securities. Questioned Costs: $0 Information based on Universe and Population Size: The finding noted above was not a result of sampling. Sample Size Information: The finding noted above was not a result of sampling. Noncompliance Information: The finding noted above was not a result of sampling. Reporting Views of Responsible Officials: Management agrees with the above finding and is in the process of transferring funds to provide adequate FDIC insurance coverage for the reserve for replacements account. Management will re-evaluate its policies and procedures to determine any necessary changes.
Show full finding ▾Hide full finding ▴Finding 2024-001: U.S. Department of Agriculture, Rural Development, Rural Rental Housing Loans, Assistance Listing Number #10.415 Statement of Condition: At December 31, 2024, the Corporation had $10,731.13 of funds maintained in an institution that were in excess of FDIC insured limits. Criteria: USDA Handbook 2-3560, Chapter 4, states that bank account funds maintained in an institution may not exceed the limited established for federal deposit insurance. If funds exceed the amount covered by federal deposit insurance, the Corporation must obtain a collateral pledge from the institution to cover all funds or move funds to an institution that will insure the funds. Cause of Condition: Management did not transfer funds to separate financial institutions in a timely manner to provide for continuous FDIC insurance coverage. Effect of Condition: Noncompliance with USDA RD requirements and risk of loss of the Organization's funds. Recommendation: The Organization should continuously monitor cash balances to ensure that funds are always covered by FDIC insurance limits, collateral agreements are obtained, or funds are invested in government securities. Questioned Costs: $0 Information based on Universe and Population Size: The finding noted above was not a result of sampling. Sample Size Information: The finding noted above was not a result of sampling. Noncompliance Information: The finding noted above was not a result of sampling. Reporting Views of Responsible Officials: Management agrees with the above finding and is in the process of transferring funds to provide adequate FDIC insurance coverage for the reserve for replacements account. Management will re-evaluate its policies and procedures to determine any necessary changes.
JOHNSON COUNTY HOUSING DEVELOPMENT CORPORATION P.O. Box 10248 Greensboro, North Carolina 27404 CORRECTIVE ACTION PLAN March 31, 2025 Federal Audit Clearinghouse 1201 East 10th Street Jeffersonville, Indiana 47132 Johnson County Housing Development Corporation (the "Organization"), respectfully submits the following Corrective Action Plan for Hillcrest Apartments for the year ended December 31, 2024. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Greensboro, North Carolina 27410 Audit period: Year ended December 31, 2024 The finding from the December 31, 2024 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings and Questioned Costs: Finding 2024-001: Section III - Findings and questioned costs relating to the major programs which are required to be reported as defined by the Uniform Guidance [2 CFR 200.516(a)]: Recommendation: The Organization should continuously monitor cash balances to ensure that funds are always covered by FDIC insurance limits, collateral agreements are obtained, or funds are invested in government securities. Reporting Views of Responsible Officials: Management agrees with the above finding and is in the process of transferring funds to provide adequate FDIC insurance coverage for the reserve for replacements account. Management will re-evaluate its policies and procedures to determine any necessary changes. If you have questions regarding this plan, please call Hona Moore at 336-544-2300. Sincerely yours, Hona Moore Partnership Property Management
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