EIN: 752809679
UEI: Y7KHSHL5DW43
Audited by: CARTER & COMPANY CPA LLC
Oversight agency: 14 [Department of Housing and Urban Development]
View federal awards & risk assessment →
Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 8, 2023. 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 8, 2023 (1151 days ago).
What is a management decision? →S2700-005 Finding Reference Number 2022-01 S2700-006 Finding Resolution Status Unresolved S2700-007 Information on Universal Population Size N/A S2700-008 Sample Size Information N/A S2700-009 Noncompliance Information N/A S2700-010 Statement of Condition As of September 30, 2022 the Corporation failed to make the surplus cash deposit as required by the Regulatory Agreement to the Residual Receipts Reserve Account. S2700-020 Criteria Pursuant to the requirements of the Regulatory Agreement, the Corporation is required to comply with all HUD regulations and other requirements. Including but not limit to the requirement to conduct the "Computation of Surplus Cash, Distributions, and Residual Receipts," to determine amounts due to the Residual Receipts Reserve Account. S2700-030 Effect or Potential Effect The Corporation is not in compliance with the terms of the Regulatory Agreement. Failure to deposit amounts due to the Residual Receipts Reserve Account may negatively impact the Corporation's capital resources. S2700-040 Cause The Corporation failed to deposit funds due to the Residual Receipt Reserve Account. S2700-050 Recommendation The Corporation should deposit amounts due to the Residual Receipts Account within a timely manor of the audit report issuance date. S2700-055 Auditor Non-Compliance Code P. Investment of Residual Receipts S2700-065 Amount of Questioned Costs $112,033 S2700-100 Reporting Views of Responsible Officials Agrees S2700-070 Concur or Do Not Concur with this Finding Concurs S2700-075 Agree or Disagree with auditor recommendations Agrees S2700-080 Completion Date or Proposed Completion Date September 30, 2023 S2700-090 Actions Taken or Planned on the Finding The Corporation intends on complying with the requirements established by the Regulatory Agreement.
Show full finding ▾Hide full finding ▴S2700-005 Finding Reference Number 2022-01 S2700-006 Finding Resolution Status Unresolved S2700-007 Information on Universal Population Size N/A S2700-008 Sample Size Information N/A S2700-009 Noncompliance Information N/A S2700-010 Statement of Condition As of September 30, 2022 the Corporation failed to make the surplus cash deposit as required by the Regulatory Agreement to the Residual Receipts Reserve Account. S2700-020 Criteria Pursuant to the requirements of the Regulatory Agreement, the Corporation is required to comply with all HUD regulations and other requirements. Including but not limit to the requirement to conduct the "Computation of Surplus Cash, Distributions, and Residual Receipts," to determine amounts due to the Residual Receipts Reserve Account. S2700-030 Effect or Potential Effect The Corporation is not in compliance with the terms of the Regulatory Agreement. Failure to deposit amounts due to the Residual Receipts Reserve Account may negatively impact the Corporation's capital resources. S2700-040 Cause The Corporation failed to deposit funds due to the Residual Receipt Reserve Account. S2700-050 Recommendation The Corporation should deposit amounts due to the Residual Receipts Account within a timely manor of the audit report issuance date. S2700-055 Auditor Non-Compliance Code P. Investment of Residual Receipts S2700-065 Amount of Questioned Costs $112,033 S2700-100 Reporting Views of Responsible Officials Agrees S2700-070 Concur or Do Not Concur with this Finding Concurs S2700-075 Agree or Disagree with auditor recommendations Agrees S2700-080 Completion Date or Proposed Completion Date September 30, 2023 S2700-090 Actions Taken or Planned on the Finding The Corporation intends on complying with the requirements established by the Regulatory Agreement.
CANTON PROPERTIES, INC. Corrective Action Plan Name of auditee: Canton Properties, Inc. d/b/a Austin Bluff Apartments HUD auditee identification number : HUD Project N0 113-11189 Name of audit firm: Carter & Company, CPA Period covered by the audit year: October 1, 2021 through September 30, 2022 CAP prepared by: Name: Lloyd Kitchen Jr. Position Executive Vice President Telephone Number (469) 371-0446 1. Current Findings on the Schedule of Findings, Questioned Cost and Recommendations: Finding 2022-01 As of September 30, 2022, the corporation failed to make surplus cash deposit as required by the Regulatory Agreement to the Residual Receipts Reserve Account. (1) Comments on the Finding and each Recommendation. The Corporation should deposit amounts due to the Residual Receipts Reserve Account within a timely manner of the audit report issuance date. (2) Actions Taken on the Finding The Corporations intends on complying wit the requirements established by the Regulatory Agreement and therefore will fund the Residual Receipts Reserve account by the available surplus cash calculation as of September 30, 2021, of $112,033 during 2023 when the funds are available. Corrective Action Plan Name of auditee: Canton Properties, Inc., d/b/a Austin Bluff Apartments HUD auditee identification number: HUD Project No. 113-11189 Name of audit firm: Carter & Company, CPA Period covered by the audit year: October 1, 2021, through September 30, 2022 CAP prepared by: Name: Anne White Position: Regional Manager Telephone number: 469-470-2702 1. Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations: Finding 2022?01 As of September 30, 2022, the Corporation failed to make surplus cash deposit as required by the Regulatory Agreement to the Residual Receipts Reserve Account. (1) Comments on the Finding and Each Recommendation. The Corporation should deposit amounts due to the Residual Receipts Reserve Account within a timely manner of the audit report issuance date. (2) Actions Taken on the Finding. The Corporation intends on complying with the requirements established by the Regulatory Agreement and therefore will fund the Residual Receipts Reserve Account by the available surplus cash calculated as of September 30, 2021, of $112,033 during 2023 when the funds are available.
FAC accepted this audit on December 30, 2021 — management decision was due June 30, 2022.
FAC accepted this audit on November 30, 2020 — management decision was due May 30, 2021.
FAC accepted this audit on November 19, 2019 — management decision was due May 19, 2020.
FINDINGS AND QUESTIONED COSTS-MAJOR FEDERAL AWARD PROGRAMS AUDIT Finding 2019-001 CFDA 14.135 Mortgage Insurance-Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate Auditor non-compliance code: N ? Special tests and provisions Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: No Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $13,000 Statement of Condition Oversight fees to TEC were paid twice in May 2019. Criteria Project funds should be used for reasonable operating expenses only. Effect The Corporation is not in compliance with its Regulatory Agreement. Cause Proper controls are not in place. Recommendation TEC should reimburse the Project. Management should reverse payments to ensure they are only paid once. Completion date November 12, 2019 Management Response Agree. Funds were reimbursed to the Project on November 12, 2019.
Show full finding ▾Hide full finding ▴FINDINGS AND QUESTIONED COSTS-MAJOR FEDERAL AWARD PROGRAMS AUDIT Finding 2019-001 CFDA 14.135 Mortgage Insurance-Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate Auditor non-compliance code: N ? Special tests and provisions Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: No Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $13,000 Statement of Condition Oversight fees to TEC were paid twice in May 2019. Criteria Project funds should be used for reasonable operating expenses only. Effect The Corporation is not in compliance with its Regulatory Agreement. Cause Proper controls are not in place. Recommendation TEC should reimburse the Project. Management should reverse payments to ensure they are only paid once. Completion date November 12, 2019 Management Response Agree. Funds were reimbursed to the Project on November 12, 2019.
Finding 2019-001 Oversight fees to EC were paid twice in May 20 19. ( I) Comments on the Finding and Each Recommendation. Information uploaded from prior managements financial accounts and reconciled under new management. (2) Actions Taken on the Finding. Under new Property Management as of July 31,2019
Finding 2019-002 CFDA 14.135 Mortgage Insurance-Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate Auditor non-compliance code: N ? Special tests and provisions Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: No Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $1,000 Statement of Condition Asset management fees were paid with Project Funds. Criteria Project funds should be used for reasonable operating expenses only. Effect The Corporation is not in compliance with its Regulatory Agreement. Cause Proper controls are not in place. Recommendation The Project should be reimbursed. Completion date November 19, 2019 Management Response Agree. The Project was reimbursed on November 19, 2019
Show full finding ▾Hide full finding ▴Finding 2019-002 CFDA 14.135 Mortgage Insurance-Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate Auditor non-compliance code: N ? Special tests and provisions Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: No Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $1,000 Statement of Condition Asset management fees were paid with Project Funds. Criteria Project funds should be used for reasonable operating expenses only. Effect The Corporation is not in compliance with its Regulatory Agreement. Cause Proper controls are not in place. Recommendation The Project should be reimbursed. Completion date November 19, 2019 Management Response Agree. The Project was reimbursed on November 19, 2019
I) Comments on the Finding and Each Recommendation. Reimbursement was received and credited back into the operational account. (2) Actions Taken on the Finding. Correction was completed.
FAC accepted this audit on February 6, 2019 — management decision was due August 6, 2019.
FAC accepted this audit on January 3, 2018 — management decision was due July 3, 2018.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴GSA_MIGRATION
GSA_MIGRATION
2016-001
FAC accepted this audit on August 21, 2017 — management decision was due February 21, 2018.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴GSA_MIGRATION
GSA_MIGRATION
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.
Browse other Single Audit organizations in Texas →
Track your findings and corrective action plans across audit cycles.
Start tracking findings →Monitor subrecipient audit findings and filing records.
Start monitoring →© 2026 Single Audit Intelligence. All data is public domain.
