EIN: 820374516
UEI: JHC7M2MAZP31
Single Audit filed under EIN: 820290739
That audit also covers 4 related EINs: 812441372, 812453581, 812473480, 812490019 · unlinked EINs have no separate FAC filing
Audited by: EIDE BAILLY LLP
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 February 5, 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 August 5, 2026 (35 days ago).
What is a management decision? →FAC accepted this audit on February 18, 2025 — management decision was due August 18, 2025.
During our testing of management fees, we identified that the Corporation was overcharged management fees for $5,697. Cause: Inadequate controls over management fee calculations failed to identify that management fees were incorrectly calculated. Effect: The Corporation overcharged the management company for management fees in 2024. As of September 30, 2024, the management fees had been paid, thus an audit adjustment was proposed and recorded to reduce the management fee expense and record a receivable for excess management fees paid for 2024. Questioned Costs: None reported. Context/Sampling: No sampling was used. Repeat Finding from Prior Year(s): No Recommendation: Management should implement controls to ensure that management fees are calculated correctly in accordance with the HUD regulatory agreement. Views of Responsible Officials: Management agrees with the finding.
Show full finding ▾Hide full finding ▴U.S. Department of Housing and Urban Development – Federal Financial Assistance Listing 14.155 Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects (Section 223(f)) Special Tests and Provisions Significant Deficiency in Internal Control over Compliance 2024‐002 Management Fees Criteria: Pursuant to the HUD regulatory agreement, management fees are to be charged in accordance with the regulatory agreement. Condition: During our testing of management fees, we identified that the Corporation was overcharged management fees for $5,697. Cause: Inadequate controls over management fee calculations failed to identify that management fees were incorrectly calculated. Effect: The Corporation overcharged the management company for management fees in 2024. As of September 30, 2024, the management fees had been paid, thus an audit adjustment was proposed and recorded to reduce the management fee expense and record a receivable for excess management fees paid for 2024. Questioned Costs: None reported. Context/Sampling: No sampling was used. Repeat Finding from Prior Year(s): No Recommendation: Management should implement controls to ensure that management fees are calculated correctly in accordance with the HUD regulatory agreement. Views of Responsible Officials: Management agrees with the finding.
Finding 2,024-002 Federal Agency Name: U.S. Department of Housing & Urban Development Assistance Listing Number: 14.155 Pragram Name: Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects (Section 223(f)) Finding Summary: During our testing of management fees, we identified that the Corporation was overcharged management fees of $5,697. Corrective Action Plan: BCACHA is drafting a formalized internal process oversight plan to ensure that our work product is accurate, timely, and within compliance with HUD regulations. We will update our financial policies and internal review processes to prevent errors such as these. Responsible lndividual{s): Glenn Luke, Finance Director Anticipated Completion Date: October 2025
FAC accepted this audit on January 29, 2024 — management decision was due July 29, 2024.
FAC accepted this audit on December 21, 2022 — management decision was due June 21, 2023.
FAC accepted this audit on December 30, 2021 — management decision was due June 30, 2022.
FAC accepted this audit on December 29, 2020 — management decision was due June 29, 2021.
FAC accepted this audit on January 2, 2020 — management decision was due July 2, 2020.
FAC accepted this audit on January 9, 2019 — management decision was due July 9, 2019.
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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