EIN: 820477098
UEI: JRFUQQ246MM9
Audited by: Magnuson McHugh Dougherty CPAs
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 14, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 9, 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 9, 2026 (24 days from today).
What is a management decision? →FAC accepted this audit on April 23, 2025 — management decision was due October 23, 2025.
FAC accepted this audit on April 12, 2024 — management decision was due October 12, 2024.
During our fieldwork, we found activity within the Residual Receipts account without HUD Approval. Cause: Client transferring funds to operating account, and then redepositing amounts at a later date. Effect: Client is not in compliance due to not having HUD approval for transactions within the Residual Receipts account. This could jeopardize their Section 202 status with HUD. Recommendation: It is our recommendation that the Project does not utilize funds within the Residual Receipts account without HUD approval, as this is required per the Compliance Supplement. Views of the Responsible Officials and Planned Corrective Actions: We understand the recommendations above and will take corrective action to implement the changes needed to ensure that funds are not utilized without HUD approval.
Show full finding ▾Hide full finding ▴Criteria: There is an expectation that the financial statements will be materially accurate when an auditor begins their final fieldwork on the audit after year-end. Minor adjustments are expected but overall, the balances should materially reflect the financial position of the entity. Condition: During our fieldwork, we found activity within the Residual Receipts account without HUD Approval. Cause: Client transferring funds to operating account, and then redepositing amounts at a later date. Effect: Client is not in compliance due to not having HUD approval for transactions within the Residual Receipts account. This could jeopardize their Section 202 status with HUD. Recommendation: It is our recommendation that the Project does not utilize funds within the Residual Receipts account without HUD approval, as this is required per the Compliance Supplement. Views of the Responsible Officials and Planned Corrective Actions: We understand the recommendations above and will take corrective action to implement the changes needed to ensure that funds are not utilized without HUD approval.
During the audit of the 2023 financials, it was noted as a finding that a transfer was done from Residual Receipts to the Operating Account without HUD approval. This was to pay for damage done to unit #19 until the insurance funds were received; the Residual Receipts Account was reimburse as soon as the insurance check was received. There was no authorization from HUD for the transfer. In the future, this will not be done unless we have approval from HUD to do the transfer.
FAC accepted this audit on May 1, 2023 — management decision was due November 1, 2023.
FAC accepted this audit on April 13, 2022 — management decision was due October 13, 2022.
FAC accepted this audit on May 2, 2021 — management decision was due November 2, 2021.
FAC accepted this audit on March 25, 2020 — management decision was due September 25, 2020.
FAC accepted this audit on April 1, 2019 — management decision was due October 1, 2019.
FAC accepted this audit on April 2, 2018 — management decision was due October 2, 2018.
GSA_MIGRATION
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GSA_MIGRATION
FAC accepted this audit on March 26, 2017 — management decision was due September 26, 2017.
GSA_MIGRATION
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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.
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