EIN: 660519280
UEI: GB23QTGX9359
Audited by: Galindez, LLC
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 June 18, 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 18, 2026 (97 days from today).
What is a management decision? →FAC accepted this audit on August 27, 2025 — management decision was due February 27, 2026.
FAC accepted this audit on August 27, 2025 — management decision was due February 27, 2026.
Finding Number: 2023-001 REPLACEMENT RESERVE DEPOSITS Program Title: Section 8 Housing Assistance Payments Program Name of Federal Agency: U. S. Department of Housing and Urban Development (HUD) CFDA Number: 14.195 Criteria Owners shall establish and maintain a replacement reserve to aid in funding extraordinary maintenance and repair and replacement of capital items. The replacement reserve funds must be deposited in a federally insured depository in an interest-bearing account. All earnings including interest on the reserve must be added to the reserve. An amount as required by HUD will be deposited monthly in the reserve funds. All disbursements from the reserve must be approved by HUD, (24 CFR section 891.405 and 891.605). Condition The Project deposited the required February 2023 monthly amount during March 2023. Cause The Project had a problem with its internet connection, so based on the premise that it is in compliance with HUD, it decided to make the deposit in March. Effect The Project failed to make the corresponding deposit in the month of February 2023 and later deposited on March 2023 affecting interest earned on those deposits. Questioned cost None since the deposit was made in March 2023. Context Condition observed on one of the twelve deposits required by the Regulatory Agreement. Prior year finding No Recommendation Management should monitor monthly the activity of the replacement reserve account, and tenant’s security deposit account. Required deposits should be made to the correct account on a monthly basis to avoid deficiencies in the reserve account balance.
Show full finding ▾Hide full finding ▴Finding Number: 2023-001 REPLACEMENT RESERVE DEPOSITS Program Title: Section 8 Housing Assistance Payments Program Name of Federal Agency: U. S. Department of Housing and Urban Development (HUD) CFDA Number: 14.195 Criteria Owners shall establish and maintain a replacement reserve to aid in funding extraordinary maintenance and repair and replacement of capital items. The replacement reserve funds must be deposited in a federally insured depository in an interest-bearing account. All earnings including interest on the reserve must be added to the reserve. An amount as required by HUD will be deposited monthly in the reserve funds. All disbursements from the reserve must be approved by HUD, (24 CFR section 891.405 and 891.605). Condition The Project deposited the required February 2023 monthly amount during March 2023. Cause The Project had a problem with its internet connection, so based on the premise that it is in compliance with HUD, it decided to make the deposit in March. Effect The Project failed to make the corresponding deposit in the month of February 2023 and later deposited on March 2023 affecting interest earned on those deposits. Questioned cost None since the deposit was made in March 2023. Context Condition observed on one of the twelve deposits required by the Regulatory Agreement. Prior year finding No Recommendation Management should monitor monthly the activity of the replacement reserve account, and tenant’s security deposit account. Required deposits should be made to the correct account on a monthly basis to avoid deficiencies in the reserve account balance.
Management will proceed to transfer from the operational to the reserve account $5,684 corresponding to the undeposited deficiency ($812 per month) during the period from June to December 2023. Evidence of the deposit to the reserve account will be sent to HUD office as agreed. Popular bank will be notified about the matter and while the amount is adjusted through the monthly mortgage payment, Management will continue to make monthly deposits of $812.00 through 2023 fiscal year to cover the deficiency. The responsible person for the corrective action plan is Carmen G Rivera, Blanco’s Administrative Director. The estimated completion date for the finding is May 31, 2024. Management will ensure deposits to the replacement reserve account are made on a monthly basis as stated in the use agreement.
FAC accepted this audit on July 23, 2020 — management decision was due January 23, 2021.
FAC accepted this audit on September 15, 2019 — management decision was due March 15, 2020.
GSA_MIGRATION
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GSA_MIGRATION
FAC accepted this audit on June 28, 2017 — management decision was due December 28, 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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