EIN: 591900772
UEI: J752DNGBD1H4
Audited by: BROWDER & ASSOCIATES, PC
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 February 27, 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 August 27, 2026 (12 days ago).
What is a management decision? →FAC accepted this audit on March 11, 2025 — management decision was due September 11, 2025.
FAC accepted this audit on March 27, 2024 — management decision was due September 27, 2024.
Management overstated assets and understated expenses by approximately $100,000 for the year ended December 31, 2023. Accounting errors were identified as a part of the audit and management adjusted the financial statements to correct the errors.
Show full finding ▾Hide full finding ▴Management overstated assets and understated expenses by approximately $100,000 for the year ended December 31, 2023. Accounting errors were identified as a part of the audit and management adjusted the financial statements to correct the errors.
SPM’s Controller of 15 years retired in early 2023. SPM has replaced this position with new leadership, and we are providing additional training to the accounting staff. We do not expect to have this issue going forward.
Management transferred $115,265 from a property held reserve to the operating account without HUD approval. This was a duplicate withdrawal.
Show full finding ▾Hide full finding ▴Management transferred $115,265 from a property held reserve to the operating account without HUD approval. This was a duplicate withdrawal.
SPM has hired a new Director of Treasury with responsibility for this activity. Additionally, SPM is investigating moving these funds to the lender held reserve account to avoid this issue in the future and eliminate the impact to the financial statement.
Management did not submit the required repayment plan to HUD for the RRF loan it received during the year.
Show full finding ▾Hide full finding ▴Management did not submit the required repayment plan to HUD for the RRF loan it received during the year.
SPM terminated the employment of the person responsible for this oversight and has implemented an internal control for its Financial Planning & Analysis department to monitor the management team’s compliance with these deadlines.
FAC accepted this audit on March 30, 2023 — management decision was due September 30, 2023.
FAC accepted this audit on March 14, 2022 — management decision was due September 14, 2022.
FAC accepted this audit on March 8, 2021 — management decision was due September 8, 2021.
FAC accepted this audit on April 2, 2020 — management decision was due October 2, 2020.
FAC accepted this audit on March 14, 2019 — management decision was due September 14, 2019.
FAC accepted this audit on March 13, 2018 — management decision was due September 13, 2018.
FAC accepted this audit on March 21, 2017 — management decision was due September 21, 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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