EIN: 626015427
UEI: ZMGEJEGZ3SM4
Audited by: SmithMarion&Co
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on June 11, 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 December 11, 2026 (98 days from today).
What is a management decision? →FAC accepted this audit on July 10, 2025 — management decision was due January 10, 2026.
2024-002 Drawing of Capital Funds Criteria Per 24 CFR 200.05, Housing Authorities are to minimize the time federal funds are drawn down to expenditure. Additionally 24 CFR 905.310 states that PHA shall initiate a fund requisition from HUD only when funds are due and payable, unless HUD approves another payment schedule. Condition Management did not follow the 3 day rule. Context During a RAD conversion, management drew down CFP funds to provide funding for RAD tax credit property. Instead of providing all funds to the RAD development within 3 days management held onto the funds. Cause Management was unaware of the 3 day requirement on RAD development funds drawn down. Effect The Authority is not in compliance with Cash Management rules relating to the Capital Fund Program. Recommendations The Authority needs to understand and comply with Public Housing Capital Fund Program's cash management rules. Management Views Management agrees.
Show full finding ▾Hide full finding ▴2024-002 Drawing of Capital Funds Criteria Per 24 CFR 200.05, Housing Authorities are to minimize the time federal funds are drawn down to expenditure. Additionally 24 CFR 905.310 states that PHA shall initiate a fund requisition from HUD only when funds are due and payable, unless HUD approves another payment schedule. Condition Management did not follow the 3 day rule. Context During a RAD conversion, management drew down CFP funds to provide funding for RAD tax credit property. Instead of providing all funds to the RAD development within 3 days management held onto the funds. Cause Management was unaware of the 3 day requirement on RAD development funds drawn down. Effect The Authority is not in compliance with Cash Management rules relating to the Capital Fund Program. Recommendations The Authority needs to understand and comply with Public Housing Capital Fund Program's cash management rules. Management Views Management agrees.
TVHS will implement a system to ensure the three-day rule is followed.
FAC accepted this audit on July 1, 2024 — management decision was due January 1, 2025.
FAC accepted this audit on July 4, 2023 — management decision was due January 4, 2024.
FAC accepted this audit on July 24, 2022 — management decision was due January 24, 2023.
FAC accepted this audit on November 8, 2021 — management decision was due May 8, 2022.
FAC accepted this audit on October 28, 2020 — management decision was due April 28, 2021.
FAC accepted this audit on September 22, 2019 — management decision was due March 22, 2020.
FAC accepted this audit on September 19, 2018 — management decision was due March 19, 2019.
FAC accepted this audit on September 28, 2017 — management decision was due March 28, 2018.
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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