EIN: 814242324
UEI: J1RJQHCFLDE3
Audited by: PLANTE & MORAN, PLLC
Oversight agency: 14 [Department of Housing and Urban Development]
View federal awards & risk assessment →
Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 8, 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 October 8, 2026 (28 days from today).
What is a management decision? →FAC accepted this audit on April 17, 2025 — management decision was due October 17, 2025.
FAC accepted this audit on May 1, 2024 — management decision was due November 1, 2024.
FAC accepted this audit on April 16, 2023 — management decision was due October 16, 2023.
FAC accepted this audit on March 30, 2022 — management decision was due September 30, 2022.
FAC accepted this audit on March 30, 2021 — management decision was due September 30, 2021.
Title and CFDA Number of Federal Program - 14.129 - U.S. Department of Housing and Urban Development - Section 232 Mortgage Insurance. Finding Resolution Status - In process. Information on Universe and Population Size - Population includes prior year surplus cash to be deposited into the residual receipts account. Sample Size Information - N/A - Population includes all prior year surplus cash to be deposited into the residual receipts account. Criteria - The Corporation should deposit surplus cash in the amount reported on the prior year financial statements, as required per the Corporation's Regulatory Agreement. Statement of Condition - The Corporation did not deposit prior year surplus cash into the residual receipts account. The required amount to be deposited per the prior year audited financial statements was $42,240. As a result, the residual receipts account was underfunded by $42,240 in 2020. Cause - The Corporation failed to monitor the cash requirements of the residual receipts account, as specified by HUD. Effect or Potential Effect - The residual receipts account was underfunded in accordance with the terms of the Regulatory Agreement. Auditor Noncompliance Code - B - Failure to make required residual receipt deposits. Reporting Views of Responsible Officials - Management agrees with the finding as reported. Context - During testing of residual receipts deposits, it was noted that the Corporation did not make the prior year surplus cash deposit in the amount reported on the prior year audited financial statements, as required by its Regulatory Agreement with HUD. The Corporation did not make a deposit to the residual receipts account, and the required amount per the prior year audited financial statements was $42,240. Recommendation - Management should monitor annual surplus cash requirements to ensure surplus cash is deposited to the residual receipts account based on amounts calculated at December 31 annually. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations - Management agrees with the finding and recommendation as reported. Response Indicator - Agree. Completion Date - March 12, 2021 Response - Management agrees with the finding and recommendation as reported and deposited $42,240 into the residual receipts account on March 12, 2021.
Show full finding ▾Hide full finding ▴Title and CFDA Number of Federal Program - 14.129 - U.S. Department of Housing and Urban Development - Section 232 Mortgage Insurance. Finding Resolution Status - In process. Information on Universe and Population Size - Population includes prior year surplus cash to be deposited into the residual receipts account. Sample Size Information - N/A - Population includes all prior year surplus cash to be deposited into the residual receipts account. Criteria - The Corporation should deposit surplus cash in the amount reported on the prior year financial statements, as required per the Corporation's Regulatory Agreement. Statement of Condition - The Corporation did not deposit prior year surplus cash into the residual receipts account. The required amount to be deposited per the prior year audited financial statements was $42,240. As a result, the residual receipts account was underfunded by $42,240 in 2020. Cause - The Corporation failed to monitor the cash requirements of the residual receipts account, as specified by HUD. Effect or Potential Effect - The residual receipts account was underfunded in accordance with the terms of the Regulatory Agreement. Auditor Noncompliance Code - B - Failure to make required residual receipt deposits. Reporting Views of Responsible Officials - Management agrees with the finding as reported. Context - During testing of residual receipts deposits, it was noted that the Corporation did not make the prior year surplus cash deposit in the amount reported on the prior year audited financial statements, as required by its Regulatory Agreement with HUD. The Corporation did not make a deposit to the residual receipts account, and the required amount per the prior year audited financial statements was $42,240. Recommendation - Management should monitor annual surplus cash requirements to ensure surplus cash is deposited to the residual receipts account based on amounts calculated at December 31 annually. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations - Management agrees with the finding and recommendation as reported. Response Indicator - Agree. Completion Date - March 12, 2021 Response - Management agrees with the finding and recommendation as reported and deposited $42,240 into the residual receipts account on March 12, 2021.
Finding Number: 2020-001 Condition: The Corporation did not deposit surplus cash of $42,240. The amount was required to be deposited per the prior year audited financial statements. As a result, the residual receipts account was underfunded by $42,240 in the current year. Planned Corrective Action: Management acknowledged noncompliance in the current fiscal year and has taken measures to improve internal controls over compliance. Management deposited the surplus cash amount of $42,240 into residual receipts on 03/12/2021. Contact person responsible for corrective action: Jeff Valloric, Interim CFO Completion Date: 03/12/2021
FAC accepted this audit on May 3, 2020 — management decision was due November 3, 2020.
FAC accepted this audit on March 28, 2019 — management decision was due September 28, 2019.
FAC accepted this audit on March 29, 2018 — management decision was due September 29, 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.
Browse other Single Audit organizations in Ohio →
Track your findings and corrective action plans across audit cycles.
Start tracking findings →Add it to a monitored group and get alerted when a new audit, finding, repeat finding, or management-decision deadline shows up — instead of checking back.
Checking several at once? Portfolio view →
© 2026 Single Audit Intelligence. All data is public domain.
