CASA CALDERON, INC. (CASA CALDERON APARTMENTS)Non-Profit

Finding Reference Number: 2021-001 Type of Finding: FA Finding Resolution Status: Resolved 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: The regulatory agreement requires that the balance in the security deposit account cannot be less than the security deposit obligation. Statement of Condition: The security deposit account is not fully funded. Cause: Procedures in place to ensure that tenant security deposits are fully funded were not followed. Effect or Potential Effect: The security deposits account does not have sufficient funds to make refunds to all tenants. Auditor Non-Compliance Code: M 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 security deposit deficiency was funded on August 2, 2021 in the amount of $31. Management will ensure that the security deposits are properly funded in the future. Context: The security deposit account is not fully funded. Recommendation: Management should compare the reconciled cash account to the security deposit listing to ensure that there is enough cash to refund all tenant deposits. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The security deposit deficiency was funded on August 2, 2021 in the amount of $31. Management will ensure that the security deposits are properly funded in the future. Response Indicator: Agree Completion Date: August 2, 2021 Response: Management agrees with the finding. The security deposit deficiency was funded on August 2, 2021 in the amount of $31. Management will ensure that the security deposits are properly funded in the future.

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: 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 9, 2019 Response: Management agrees with the finding. The excess funds were accrued to offset future Section 8 HAP requests.

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