EIN: 716520348
UEI: KNKLDV3QLKN3
Single Audit filed under EIN: 710433583
205006141, 205006195, 311535691, 311571018, 710545489, 710576888, 710648594, 710682034, 710823653, 710852843, 710883168 · unlinked EINs have no separate FAC filing
Audited by: Landmark PLC
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 November 8, 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 May 8, 2025 (485 days ago).
What is a management decision? →See table on page 31.
Show full finding ▾Hide full finding ▴See table on page 31.
See table on page 32.
2023-001
FAC accepted this audit on October 27, 2022 — management decision was due April 27, 2023.
FAC accepted this audit on November 28, 2021 — management decision was due May 28, 2022.
See Schedule of Findings and Questioned Costs for chart/table.
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See Corrective Action Plan for chart/table.
FAC accepted this audit on September 29, 2020 — management decision was due March 29, 2021.
Failure to deposit the HUD required amount of deposits into the reserve account monthly. Criteria: An amount determined by HUD is required to be deposited into a separate interest bearing account monthly. Effect: The total amount deposited into the reserve account was less than the HUD requirement. Context: The amount of required deposits was compared to the monthly bank statement to determine if all required deposits were made. The test found that one month of deposits was insufficient. Cause: Procedures are in place for supervisory review of bank statements when they are reconciled on a monthly basis. However, the reviewer made an addition error to properly calculate a required deposit made to be in compliance with an increase made by HUD. Recommendation: After monthly reconciliations are completed, a final check is made to verify calculations. Views of Responsible Officials and Planned Corrective Actions: Valley Housing, Inc. agrees with the finding and the auditor?s recommendations have been adopted.
Show full finding ▾Hide full finding ▴DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING NO. 2020-001 Condition: Failure to deposit the HUD required amount of deposits into the reserve account monthly. Criteria: An amount determined by HUD is required to be deposited into a separate interest bearing account monthly. Effect: The total amount deposited into the reserve account was less than the HUD requirement. Context: The amount of required deposits was compared to the monthly bank statement to determine if all required deposits were made. The test found that one month of deposits was insufficient. Cause: Procedures are in place for supervisory review of bank statements when they are reconciled on a monthly basis. However, the reviewer made an addition error to properly calculate a required deposit made to be in compliance with an increase made by HUD. Recommendation: After monthly reconciliations are completed, a final check is made to verify calculations. Views of Responsible Officials and Planned Corrective Actions: Valley Housing, Inc. agrees with the finding and the auditor?s recommendations have been adopted.
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING NO. 2020-001 Condition: Failure to deposit the HUD required amount of deposits into the reserve account monthly. Criteria: An amount determined by HUD is required to be deposited into a separate interest bearing account monthly. Effect: The total amount deposited into the reserve account was less than the HUD requirement. Context: The amount of required deposits was compared to the monthly bank statement to determine if all required deposits were made. The test found that one month of deposits was insufficient. Cause: Procedures are in place for supervisory review of bank statements when they are reconciled on a monthly basis. However, the reviewer made an addition error to properly calculate a required deposit made to be in compliance with an increase made by HUD. Recommendation: After monthly reconciliations are completed, a final check is made to verify calculations. Views of Responsible Officials and Planned Corrective Actions: Valley Housing, Inc. agrees with the finding and the auditor?s recommendations have been adopted.
Failure to timely open new residual bank account. Criteria: HUD temporarily approved placing surplus cash in the reserve account until the new residual account was opened with a new bank. Effect: Surplus cash was not transferred from reserve account to the residual account on a timely manner. Context: The prior year?s surplus cash was tested to verify it was deposited into the residual account within the 90 day guidelines. The test found that the residual account was closed with HUD?s approval and the surplus cash was deposited into the reserve account until the new residual account was opened. The new account was not opened for seven months. Cause: Lack of communication between departments. Recommendation: During the monthly bank reconciliations for the reserve and residual bank accounts, a review should be done to verify that all outstanding actions have been completed with all departments. Views of Responsible Officials and Planned Corrective Actions: Valley Housing, Inc. agrees with the finding and the auditor?s recommendations have been adopted.
Show full finding ▾Hide full finding ▴FINDING NO. 2020-002 Condition: Failure to timely open new residual bank account. Criteria: HUD temporarily approved placing surplus cash in the reserve account until the new residual account was opened with a new bank. Effect: Surplus cash was not transferred from reserve account to the residual account on a timely manner. Context: The prior year?s surplus cash was tested to verify it was deposited into the residual account within the 90 day guidelines. The test found that the residual account was closed with HUD?s approval and the surplus cash was deposited into the reserve account until the new residual account was opened. The new account was not opened for seven months. Cause: Lack of communication between departments. Recommendation: During the monthly bank reconciliations for the reserve and residual bank accounts, a review should be done to verify that all outstanding actions have been completed with all departments. Views of Responsible Officials and Planned Corrective Actions: Valley Housing, Inc. agrees with the finding and the auditor?s recommendations have been adopted.
FINDING NO. 2020-002 Condition: Failure to timely open new residual bank account. Criteria: HUD temporarily approved placing surplus cash in the reserve account until the new residual account was opened with a new bank. Effect: Surplus cash was not transferred from reserve account to the residual account on a timely manner. Context: The prior year?s surplus cash was tested to verify it was deposited into the residual account within the 90 day guidelines. The test found that the residual account was closed with HUD?s approval and the surplus cash was deposited into the reserve account until the new residual account was opened. The new account was not opened for seven months. Cause: Lack of communication between departments. Recommendation: During the monthly bank reconciliations for the reserve and residual bank accounts, a review should be done to verify that all outstanding actions have been completed with all departments. Views of Responsible Officials and Planned Corrective Actions: Valley Housing, Inc. agrees with the finding and the auditor?s recommendations have been adopted.
FAC accepted this audit on September 25, 2019 — management decision was due March 25, 2020.
FAC accepted this audit on September 26, 2018 — management decision was due March 26, 2019.
FAC accepted this audit on September 28, 2017 — management decision was due March 28, 2018.
FAC accepted this audit on September 27, 2016 — management decision was due March 27, 2017.
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