EIN: 820508784
UEI: LJCKKJJFCJV6
Audited by: Novogradac & Company LLP
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 June 25, 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 December 25, 2026 (112 days from today).
What is a management decision? →FAC accepted this audit on May 19, 2025 — management decision was due November 19, 2025.
FAC accepted this audit on May 28, 2024 — management decision was due November 28, 2024.
FAC accepted this audit on June 26, 2023 — management decision was due December 26, 2023.
FAC accepted this audit on May 19, 2022 — management decision was due November 19, 2022.
Finding reference number: #2021-001 CFDA title and number (Federal award identification number and year): Rural Housing Service Loans, Assistance Listing No. 10.415: Identification numbers Property name Original year of award 731944452017 Hurricane 1993 Auditor non-compliance code: P - Other Finding resolution status: Resolved. Universe population size: Not applicable. Sample size information: Not applicable. Noncompliance Information: Not applicable. Statistically valid sample: Not applicable. Name of Federal Agency: USDA Pass-through entity: N/A Questioned costs: $1,201 Statement of condition #2021-001: During the year ended December 31, 2021, Hurricane Associates did not make one of the monthly reserve for replacement deposits as required by the RD loan agreement. The reserve for replacements is underfunded by $1,201 at December 31, 2021. Criteria: Per the RD loan agreement, Hurricane Associates is required to make monthly deposits into the reserve for replacements account. Effect: Hurricane Associates is not in compliance with the RD loan agreement. Cause: Management oversight. Recommendation: Hurricane Associates should transfer $1,201 from operating account into the reserve for replacement account. Completion Date: January 28, 2022 Management's response: Management agrees. On January 28, 2022, Hurricane Associates transferred $1,201 from the operating account into to the reserve for replacements account.
Show full finding ▾Hide full finding ▴Finding reference number: #2021-001 CFDA title and number (Federal award identification number and year): Rural Housing Service Loans, Assistance Listing No. 10.415: Identification numbers Property name Original year of award 731944452017 Hurricane 1993 Auditor non-compliance code: P - Other Finding resolution status: Resolved. Universe population size: Not applicable. Sample size information: Not applicable. Noncompliance Information: Not applicable. Statistically valid sample: Not applicable. Name of Federal Agency: USDA Pass-through entity: N/A Questioned costs: $1,201 Statement of condition #2021-001: During the year ended December 31, 2021, Hurricane Associates did not make one of the monthly reserve for replacement deposits as required by the RD loan agreement. The reserve for replacements is underfunded by $1,201 at December 31, 2021. Criteria: Per the RD loan agreement, Hurricane Associates is required to make monthly deposits into the reserve for replacements account. Effect: Hurricane Associates is not in compliance with the RD loan agreement. Cause: Management oversight. Recommendation: Hurricane Associates should transfer $1,201 from operating account into the reserve for replacement account. Completion Date: January 28, 2022 Management's response: Management agrees. On January 28, 2022, Hurricane Associates transferred $1,201 from the operating account into to the reserve for replacements account.
Finding reference number: #2021-001 Comments on the Findings and Each Recommendation: Per the RD loan agreement, Hurricane Associates is required to make monthly deposits into the reserve for replacements account. Action(s) taken or planned on the finding: Management agrees. On January 28, 2022, Hurricane Associates transferred $1,201 from the operating account into to the reserve for replacements account.
FAC accepted this audit on May 10, 2021 — management decision was due November 10, 2021.
Finding reference number: #2020-001 CFDA title and number (Federal award identification number and year): Rural Housing Service Loans, CFDA No. 10.415: Identification numbers Property name Original year of award 854473238 011 Bonners 1993 Auditor non-compliance code: P - Other Finding resolution status: Resolved. Universe population size: Not applicable. Sample size information: Not applicable. Noncompliance Information: Not applicable. Statistically valid sample: Not applicable. Name of Federal Agency: USDA Pass-through entity: N/A Questioned costs: $111 Statement of condition #2020-001: During the year ended December 31, 2020, Bonners Ferry Associates distributed cash which exceeds the allowable annual Return to Owner calculated in the prior year by $111. Criteria: The RD loan agreement prohibits the distribution of cash in excess of the annual allowable Return to Owner. Effect: Bonners Ferry Associates is not in compliance with the RD loan agreement. Cause: Management paid the incorrect amount of owner distributions in error. Recommendation: Bonners Ferry Associates should reimburse the Property $111. Completion Date: January 25, 2021 Management's response: Management concurs with the recommendation. On January 25, 2021, $111 was transferred into the operating account. No further action is required.
Show full finding ▾Hide full finding ▴Finding reference number: #2020-001 CFDA title and number (Federal award identification number and year): Rural Housing Service Loans, CFDA No. 10.415: Identification numbers Property name Original year of award 854473238 011 Bonners 1993 Auditor non-compliance code: P - Other Finding resolution status: Resolved. Universe population size: Not applicable. Sample size information: Not applicable. Noncompliance Information: Not applicable. Statistically valid sample: Not applicable. Name of Federal Agency: USDA Pass-through entity: N/A Questioned costs: $111 Statement of condition #2020-001: During the year ended December 31, 2020, Bonners Ferry Associates distributed cash which exceeds the allowable annual Return to Owner calculated in the prior year by $111. Criteria: The RD loan agreement prohibits the distribution of cash in excess of the annual allowable Return to Owner. Effect: Bonners Ferry Associates is not in compliance with the RD loan agreement. Cause: Management paid the incorrect amount of owner distributions in error. Recommendation: Bonners Ferry Associates should reimburse the Property $111. Completion Date: January 25, 2021 Management's response: Management concurs with the recommendation. On January 25, 2021, $111 was transferred into the operating account. No further action is required.
Finding reference number: #2020-001 Comments on the Findings and Each Recommendation: The RD loan agreement prohibits the distribution of cash in excess of the annual allowable Return to Owner. Action(s) taken or planned on the finding: Management concurs with the recommendation. On January 25, 2021, $111 was transferred into the operating account. No further action is required.
Finding reference number: #2020-002 CFDA title and number (Federal award identification number and year): Rural Housing Service Loans, CFDA No. 10.415: Identification numbers Property name Original year of award 854473238 011 Bonners 1993 Auditor non-compliance code: P - Other Finding resolution status: Resolved. Universe population size: Not applicable. Sample size information: Not applicable. Noncompliance Information: Not applicable. Statistically valid sample: Not applicable. Name of Federal Agency: USDA Pass-through entity: N/A Questioned costs: $4,075 Statement of condition #2020-001: During the year ended December 31, 2020, Bonners Ferry Associates withdrew $4,075 from the reserve for replacements for costs which were previously reimbursed from the reserve for replacements during the year ended December 31, 2019. Criteria: Per the RD loan agreement, Bonners Ferry Associates cannot withdraw funds from the reserve for replacements twice for the same invoice. Effect: Bonners Ferry Associates is not in compliance with the RD loan agreement. Cause: Management withdrew the full amount of a previously reimbursed invoice instead of the balance of the invoice which had not yet been reimbursed. Recommendation: Bonners Ferry Associates should transfer $4,075 from operating cash into the reserve for replacements. Completion Date: February 25, 2021 Management's response: Management concurs with the recommendation. On February 25, 2021, Bonners Ferry Associates transferred $4,075 from the operating cash account to the reserve for replacements account.
Show full finding ▾Hide full finding ▴Finding reference number: #2020-002 CFDA title and number (Federal award identification number and year): Rural Housing Service Loans, CFDA No. 10.415: Identification numbers Property name Original year of award 854473238 011 Bonners 1993 Auditor non-compliance code: P - Other Finding resolution status: Resolved. Universe population size: Not applicable. Sample size information: Not applicable. Noncompliance Information: Not applicable. Statistically valid sample: Not applicable. Name of Federal Agency: USDA Pass-through entity: N/A Questioned costs: $4,075 Statement of condition #2020-001: During the year ended December 31, 2020, Bonners Ferry Associates withdrew $4,075 from the reserve for replacements for costs which were previously reimbursed from the reserve for replacements during the year ended December 31, 2019. Criteria: Per the RD loan agreement, Bonners Ferry Associates cannot withdraw funds from the reserve for replacements twice for the same invoice. Effect: Bonners Ferry Associates is not in compliance with the RD loan agreement. Cause: Management withdrew the full amount of a previously reimbursed invoice instead of the balance of the invoice which had not yet been reimbursed. Recommendation: Bonners Ferry Associates should transfer $4,075 from operating cash into the reserve for replacements. Completion Date: February 25, 2021 Management's response: Management concurs with the recommendation. On February 25, 2021, Bonners Ferry Associates transferred $4,075 from the operating cash account to the reserve for replacements account.
Finding reference number: #2020-002 Comments on the Findings and Each Recommendation: Per the RD loan agreement, the Partnership cannot withdraw funds from the reserve for replacements twice for the same invoice. Action(s) taken or planned on the finding: Management concurs with the recommendation. On February 25, 2021, the Partnership transferred $4,075 from the operating cash account to the reserve for replacements account.
FAC accepted this audit on May 3, 2020 — management decision was due November 3, 2020.
Statement of condition #2019-001: RD approval was not obtained prior to the sale of general partnership interests of the remaining RD Portfolio. Criteria: Pursuant to Section 6e(3) of the RD loan agreements, unless the Government gives prior consent, the entities shall not change the membership by either admission or withdrawal of any general partner(s). Effect: The remaining RD Portfolio is not in compliance with each of the respective RD loan agreements due to the pending RD approval of the changes in ownership. Cause: The former general partner(s) were involved in personal bankruptcy proceedings. The bankruptcy court approved the transfer of the general partnership interests without first obtaining RD approval. In 2011, the former general partner of the RD Portfolio filed for Chapter 11 bankruptcy. In 2013, the bankruptcy was converted from Chapter 11 reorganization to Chapter 7 liquidation. On March 31, 2017 the bankruptcy estate of the former general partner and the former limited partner of the RD Portfolio each entered into an assignment and assumption agreement to transfer all of their respective rights and interests in the partnerships to the Corporation and NWRECC Preservation LLC, an Idaho limited liability company wholly owned by the Corporation. The assignment and assumption agreements provide for the transfers to become final on the earlier of 180 days from March 31, 2017, or receipt of RD written consent, as required by the USDA loan agreement. On December 20, 2019, the Corporation received approval of the ownership change from RD for a portion of the RD Portfolio (Hayden Lake, North Idaho, Hayden Lake III, Bonners and Louise), which is effective January 1, 2020. For the remainder of the RD portfolio, RD consent is still pending until they have successfully completed their review of the partnership activities of the RD Portfolio during the period of the undisclosed bankruptcy. Recommendation: For those entities for which RD approval has not yet been received, the Corporation and Subsidiaries should continue to work with RD to obtain written approval for the sale and transfer of the remaining unapproved partnership interests to the Corporation. Completion Date: December 31, 2020 Management's response: Management and the Corporation concur with the recommendation. The Corporation has submitted an Application for the Partial Release, Subordination, or Consent (Form RD 3560-1) to RD; On December 20, 2019, the Corporation received approval of the ownership change from RD for a portion of the RD Portfolio (Hayden Lake, North Idaho, Hayden Lake III, Bonners and Louise), which is effective January 1, 2020. For the remainder of the RD portfolio, RD consent is still pending until they have successfully completed their review of the partnership activities of the RD Portfolio during the period of the undisclosed bankruptcy.
Show full finding ▾Hide full finding ▴Statement of condition #2019-001: RD approval was not obtained prior to the sale of general partnership interests of the remaining RD Portfolio. Criteria: Pursuant to Section 6e(3) of the RD loan agreements, unless the Government gives prior consent, the entities shall not change the membership by either admission or withdrawal of any general partner(s). Effect: The remaining RD Portfolio is not in compliance with each of the respective RD loan agreements due to the pending RD approval of the changes in ownership. Cause: The former general partner(s) were involved in personal bankruptcy proceedings. The bankruptcy court approved the transfer of the general partnership interests without first obtaining RD approval. In 2011, the former general partner of the RD Portfolio filed for Chapter 11 bankruptcy. In 2013, the bankruptcy was converted from Chapter 11 reorganization to Chapter 7 liquidation. On March 31, 2017 the bankruptcy estate of the former general partner and the former limited partner of the RD Portfolio each entered into an assignment and assumption agreement to transfer all of their respective rights and interests in the partnerships to the Corporation and NWRECC Preservation LLC, an Idaho limited liability company wholly owned by the Corporation. The assignment and assumption agreements provide for the transfers to become final on the earlier of 180 days from March 31, 2017, or receipt of RD written consent, as required by the USDA loan agreement. On December 20, 2019, the Corporation received approval of the ownership change from RD for a portion of the RD Portfolio (Hayden Lake, North Idaho, Hayden Lake III, Bonners and Louise), which is effective January 1, 2020. For the remainder of the RD portfolio, RD consent is still pending until they have successfully completed their review of the partnership activities of the RD Portfolio during the period of the undisclosed bankruptcy. Recommendation: For those entities for which RD approval has not yet been received, the Corporation and Subsidiaries should continue to work with RD to obtain written approval for the sale and transfer of the remaining unapproved partnership interests to the Corporation. Completion Date: December 31, 2020 Management's response: Management and the Corporation concur with the recommendation. The Corporation has submitted an Application for the Partial Release, Subordination, or Consent (Form RD 3560-1) to RD; On December 20, 2019, the Corporation received approval of the ownership change from RD for a portion of the RD Portfolio (Hayden Lake, North Idaho, Hayden Lake III, Bonners and Louise), which is effective January 1, 2020. For the remainder of the RD portfolio, RD consent is still pending until they have successfully completed their review of the partnership activities of the RD Portfolio during the period of the undisclosed bankruptcy.
Comments on the Findings and Each Recommendation: RD approval was not obtained prior to the sale of general partnership interests of the remaining RD Portfolio. Action(s) taken or planned on the finding: Management and the Corporation concur with the recommendation. The Corporation has submitted an Application for the Partial Release, Subordination, or Consent (Form RD 3560-1) to RD; On December 20, 2019, the Corporation received approval of the ownership change from RD for a portion of the remaining RD Portfolio (Hayden Lake, North Idaho, Hayden Lake III, Bonners and Louise), which is effective January 1, 2020. For the remainder of the RD portfolio, RD consent is still pending until they have successfully completed their review of the partnership activities of the RD Portfolio during the period of the undisclosed bankruptcy
2018-001
FAC accepted this audit on May 14, 2019 — management decision was due November 14, 2019.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on June 13, 2018 — management decision was due December 13, 2018.
FAC accepted this audit on June 12, 2017 — management decision was due December 12, 2017.
GSA_MIGRATION
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GSA_MIGRATION
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