EIN: 833410430
UEI: V3XPKR81ER56
Audited by: Tidwell Group, LLC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on September 25, 2025. 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 March 25, 2026 (157 days ago).
What is a management decision? →FAC accepted this audit on January 17, 2025 — management decision was due July 17, 2025.
The Corporation requested and received distributions from the Critical Repairs Reserve account for duplicate invoices. The total of the duplicate invoices was $55,517, which was reduced by retainage withheld, resulting in distributions for duplicate invoices totaling $49,965. Cause: Management oversight. Effect or Potential Effect: Distributions of Critical Repairs Reserve funds for unallowable costs results in the Corporation beingnoncompliant with the Regulatory Agreement. Auditor Non-Compliance Code: H - Unauthorized distributions of project assets Questioned Costs: $49,965 Context: During the year ended April 30, 2024, the property had withdrawals from the Critical Repairs Reserve. Recommendation: The amount owed to the contractor for the critical repairs work completed at the project should be reduced by the amount of the overpayment to the contractor due to payment of duplicate invoices. Going forward, Management should review invoices included in the Critical Repairs Reserve withdrawal requests to ensure they are accurate and not duplicates.
Show full finding ▾Hide full finding ▴Finding Reference Number: 2024-001 Title and CFDA Number of Federal Program: 14.155 Project Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects Type of Finding Federal Award Finding Finding Resolution Status: Resolved Information on Universe Population Size: N/A Sample Size Information: N/A Identification of Repeat Finding and Finding Reference: N/A Criteria: Compliance with the Regulatory Agreement requires disbursements from the Critical Repairs Reserve be made for the purpose of offsetting specific costs of critical repairs at the project upon consent of HUD. Statement of Condition: The Corporation requested and received distributions from the Critical Repairs Reserve account for duplicate invoices. The total of the duplicate invoices was $55,517, which was reduced by retainage withheld, resulting in distributions for duplicate invoices totaling $49,965. Cause: Management oversight. Effect or Potential Effect: Distributions of Critical Repairs Reserve funds for unallowable costs results in the Corporation beingnoncompliant with the Regulatory Agreement. Auditor Non-Compliance Code: H - Unauthorized distributions of project assets Questioned Costs: $49,965 Context: During the year ended April 30, 2024, the property had withdrawals from the Critical Repairs Reserve. Recommendation: The amount owed to the contractor for the critical repairs work completed at the project should be reduced by the amount of the overpayment to the contractor due to payment of duplicate invoices. Going forward, Management should review invoices included in the Critical Repairs Reserve withdrawal requests to ensure they are accurate and not duplicates.
Finding Reference Number: 2024-001 Reporting Views of Responsible Officials: We concur that the Corporation received distributions from the Critical Repairs Reserve account for duplicate invoices. The total of the duplicate invoices was $55,517, which was reduced by retainage withheld, resulting in distributions for duplicate invoices totaling $49,965. Completion Date: September 23, 2024 Response: Agree. The amount owed to the contractor for the critical repairs work completed at the project was reduced by the amount of the overpayment to the contractor due to payment of duplicate invoices. Going forward, Management will review invoices included in the Critical Repairs Reserve withdrawal requests to ensure they are accurate and not duplicates. Contact Person First Name: David Contact Person Last Name: Phillips
FAC accepted this audit on January 17, 2025 — management decision was due July 17, 2025.
FAC accepted this audit on January 17, 2025 — management decision was due July 17, 2025.
FAC accepted this audit on December 29, 2022 — management decision was due June 29, 2023.
FAC accepted this audit on July 29, 2021 — management decision was due January 29, 2022.
FAC accepted this audit on January 25, 2021 — management decision was due July 25, 2021.
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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