EIN: 640427411
UEI: XC2KJ7TKJ4P4
Audited by: Harper, Rains, Knight & Co
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 30, 2024. 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 July 30, 2024 (763 days ago).
What is a management decision? →The Project did not submit its audited financial statements within the time frame. Cause: The Project's HUD mortgage was paid off during the fiscal year and it was anticipated that the Project would be below the $750,000 threshold. Effect or Potential Effect: The late submission could put the Project in noncompliance with HUD and decrease future funding from HUD. Perspective Information: The Project failed to submit its annual audit within the prescribed timeframe. Through prior history with Project, this is not a systemic issue that cannot be rectified. Recommendations: The Project should submit its annual financial statement audit through the clearinghouse and ensure that it remains in compliance in future years. Views of Responsible Officials: Management concurs with the finding. Management will submit its audited financial statements through the clearinghouse immediately.
Show full finding ▾Hide full finding ▴Finding 2023-001: Section 8 Housing Assistance Payments (CFDA #14.195) Type of Finding: Significant Deficiency / Noncompliance Repeat Finding: Finding is not a repeat finding. Criteria: Under the Uniform Guidance, the Project is required to submit its audited statements within nine months of year-end. Condition: The Project did not submit its audited financial statements within the time frame. Cause: The Project's HUD mortgage was paid off during the fiscal year and it was anticipated that the Project would be below the $750,000 threshold. Effect or Potential Effect: The late submission could put the Project in noncompliance with HUD and decrease future funding from HUD. Perspective Information: The Project failed to submit its annual audit within the prescribed timeframe. Through prior history with Project, this is not a systemic issue that cannot be rectified. Recommendations: The Project should submit its annual financial statement audit through the clearinghouse and ensure that it remains in compliance in future years. Views of Responsible Officials: Management concurs with the finding. Management will submit its audited financial statements through the clearinghouse immediately.
CORRECTIVE ACTION PLAN MARCH 31, 2023 U. S. Department of Housing and Urban Development East Columbia Apartments (the "Project") respectfully submits the following corrective action plan for the year ended March 31, 2023. Audit Firm: Harper, Rains, Knight & Company, P.A. 1052 Highland Colony Parkway, Suite 100 Ridgeland, MS 39157 Audit Period: Year Ended March 31, 2023 Audit Finding Reference: 2023-001 Planned Corrective Action: The Project will submit its audited financial statements to the federal clearinghouse immediately. Name of Contact Person: If the U. S. Department of Housing and Urban Development for audit has questions regarding this plan, please call Rick Greene at 601-714-8349. Sincerely, East Columbia Apartments By Inventive Property Management
FAC accepted this audit on December 27, 2022 — management decision was due June 27, 2023.
FAC accepted this audit on December 21, 2021 — management decision was due June 21, 2022.
The Project paid expenses during the current year that may not be true expenses of the Project. Cause: The Project's controls over cash disbursements were not working properly. Effect or Potential Effect: The federal awards can be expended on items that do not benefit the Project. Perspective Information: The Project paid expenses that were not an expense of the Project. Recommendations: The Project should implement controls over cash disbursements to ensure that expense are actual expenses of the Project and ensure that funds are returned to the Project. Views of Responsible Officials: Management concurs with the finding. Management will implement controls over cash disbursements.
Show full finding ▾Hide full finding ▴Finding 2021-001: Section 202 Direct Loan (CFDA #14.157) Type of Finding: Material Weakness Criteria: The Regulatory Agreement requires the Project to manage the cash and ensure that disbursements are for expenses of the Project. Condition: The Project paid expenses during the current year that may not be true expenses of the Project. Cause: The Project's controls over cash disbursements were not working properly. Effect or Potential Effect: The federal awards can be expended on items that do not benefit the Project. Perspective Information: The Project paid expenses that were not an expense of the Project. Recommendations: The Project should implement controls over cash disbursements to ensure that expense are actual expenses of the Project and ensure that funds are returned to the Project. Views of Responsible Officials: Management concurs with the finding. Management will implement controls over cash disbursements.
Finding 2021-001: Cash Disbursements Recommendation: The Project should implement controls over cash disbursements to ensure that expense are actual expenses of the Project. In addition, the Project should ensure that the funds are returned promptly. Actions Taken: Management concurs with the finding. Management will implement controls over cash disbursements and ensure reimbursement for questioned costs are received. In addition, the funds were returned in July 2021, before the financial statements were issued. If the U.S. Department of Housing and Urban Development for audit has questions regarding this plan, please call Rick Greene at 601-714-8350.
FAC accepted this audit on December 29, 2020 — management decision was due June 29, 2021.
FAC accepted this audit on January 6, 2020 — management decision was due July 6, 2020.
FAC accepted this audit on September 27, 2018 — management decision was due March 27, 2019.
FAC accepted this audit on August 20, 2017 — management decision was due February 20, 2018.
FAC accepted this audit on August 17, 2016 — management decision was due February 17, 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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