EIN: 850227016
UEI: LLA4BQ6Z9BM4
Audit also covers 2 related EINs: 742894023, 850252748 · unlinked EINs have no separate FAC filing
Audited by: Clifford, Ross & Cooper, CPAs, LLC
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 July 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 January 8, 2027 (125 days from today).
What is a management decision? →FAC accepted this audit on June 27, 2025 — management decision was due December 27, 2025.
FAC accepted this audit on June 28, 2024 — management decision was due December 28, 2024.
FAC accepted this audit on June 26, 2023 — management decision was due December 26, 2023.
FAC accepted this audit on September 29, 2022 — management decision was due March 29, 2023.
2021-004 -Federal Agency: U.S. Department of Agriculture CFDA No. 10.420 and 10.433 Statement of Condition The requirement for submitting the single audit reporting package for the year ended September 30, 2021, was no later than June 30, 2022. The audit report was completed after June 30, 2022. As a result, the reporting package was not submitted to the federal government on a timely basis. Criteria The federal Office of Management and Budget (0MB) Uniform Guidance 2 CFR 200.512(a) requires the audit package, and the data collection form shall be submitted thirty (30) days after receipt of the auditor's report, or nine months after the end of the fiscal year. Questioned Costs - Unknown. Effect Non-compliance with federal requirements, such as the submission of the single audit report and the data collection form, could jeopardize future Organization funding from the federal government. Cause Management lacks a clear understanding in respect to the Single Audit requirements. The COVID-19 pandemic delayed the gathering of records and subsequent transfer to the auditors. Recommendation We recommend the Organization devise a corrective action plan to meet their requirements of submitting their audit report within, no later than, nine months to the Federal Audit Clearinghouse as per the requirements of the Uniform Guidance. Material Weakness - Submission of the Reporting Package to the Federal Government
Show full finding ▾Hide full finding ▴2021-004 -Federal Agency: U.S. Department of Agriculture CFDA No. 10.420 and 10.433 Statement of Condition The requirement for submitting the single audit reporting package for the year ended September 30, 2021, was no later than June 30, 2022. The audit report was completed after June 30, 2022. As a result, the reporting package was not submitted to the federal government on a timely basis. Criteria The federal Office of Management and Budget (0MB) Uniform Guidance 2 CFR 200.512(a) requires the audit package, and the data collection form shall be submitted thirty (30) days after receipt of the auditor's report, or nine months after the end of the fiscal year. Questioned Costs - Unknown. Effect Non-compliance with federal requirements, such as the submission of the single audit report and the data collection form, could jeopardize future Organization funding from the federal government. Cause Management lacks a clear understanding in respect to the Single Audit requirements. The COVID-19 pandemic delayed the gathering of records and subsequent transfer to the auditors. Recommendation We recommend the Organization devise a corrective action plan to meet their requirements of submitting their audit report within, no later than, nine months to the Federal Audit Clearinghouse as per the requirements of the Uniform Guidance. Material Weakness - Submission of the Reporting Package to the Federal Government
The annual audits for fiscal year 2019 and 202 were dal2yed due to exigent circumstances which included the immediate and subsequent effects of COVID-19 and were impediments to the completion of the annual audit for fiscal year 2021. The causal effect is missed deadlines in submitting the reporting packages to federal government providing major federal awards and contracts. The annual audit for the fiscal year ended 2021 is now complete and out report will be submitted no later than October 15, 2022. The report was due no later than June 30, 2022. Tierra del Sol Housing Corporation has implemented revised accounting and financial policies and procedures to remediate the effect of late audits and to assure timely complete of audits by third party auditors and the timely submission of reports to the federal government clearinghouse. The Audit for Fiscal Period Ending September 30, 2022 is anticipated to be audited in January 2023, thereby we plan to send the audit reporting packet thereafter to meet the due date of June 3, 2023.
2020-005
FAC accepted this audit on August 3, 2022 — management decision was due February 3, 2023.
2020-001 (2019-001) Financial Close and Reporting Process Controls Statement of Condition The Organization has not implemented effective financial close and reporting process controls for the year ended September 30, 2020. The financial close should include but not be limited to: ? Identifying all sources of financial and non-financial data (routine and non-routine events and transactions) that will be needed in order to maintain and systematically adjust the general ledger. ? Identifying all cash accounts and initiating timely reconciliation processes to ensure the recording of all relevant financial transactions for the inclusion in the general ledger. ? Establishing and implementing procedures and records to initiate, authorize, record process, correct, transfer to the general ledger, and report the Organizations transactions. ? Monitoring assigned personnel are completing their task timely and accurately. ? The projects major programs require accurate financial reporting to ensure compliance with the objectives and restrictions of the programs. Areas that required proposed audit adjustments are as follows: Net adjustment to current assets $ (2,251,425) Net adjustment to fixed assets $ 1,609,071 Net adjustments to noncurrent Assets $ 263,758 Net adjustments to current liabilities $ (468,326) Net adjustment to long term liabilities $ 321,435 Net adjustment to net assets $ 152,042 Net adjustment to revenues $ (339,658) Net adjustment to expenses $ 810,382 Net adjustment to gain on sale $ (233,616) Net adjustment to prior period $ 136,337 Criteria There are several key underlying accounting standards related to an organization designing and implementing an effective financial close and reporting process. Auditors are required to identify and communicate internal weaknesses according to AU-C 265 "Communicating Internal Control Related Matters Identified in an Audit". The following are a few concepts associated with this standard: ? The auditor cannot be part of a client's internal control because becoming part of a client's internal control impairs auditor independence. ? The auditor's work is independent of the client's internal control over financial reporting, and the auditor cannot be a compensating control for the client; and ? A system of internal control over the financial reporting does not stop at the general ledger- it includes controls over the presentation of the financial statements. ? Financial Close is considered a significant process of internal control and should be performed by the Organization. ? Accurate reporting and reconciliations are relevant to the compliance of the major programs. Questioned Costs - Unknown Effect The Organization was not ready for its audit in a timely manner resulting in an audit finding and multiple material adjustments. Compliance with the major program objectives was not monitored due to lack of verifiable information related to the receipt and disbursement of funds. Cause Failure to timely and accurately reconcile the transactions in cash accounts resulting in multiple material transactions not being recorded in the Organizations financial records. Insufficient review of year end balances and their underlying support. Failure to properly record transactions on an accrual basis. Recommendation We recommend the Organization institute procedures to ensure there is a proper monthly/quarterly and year-end/financial close to its accounts. We also recommend that there be a monitoring process to ensure that the records are being maintained adequately on a quarterly basis at minimum.
Show full finding ▾Hide full finding ▴2020-001 (2019-001) Financial Close and Reporting Process Controls Statement of Condition The Organization has not implemented effective financial close and reporting process controls for the year ended September 30, 2020. The financial close should include but not be limited to: ? Identifying all sources of financial and non-financial data (routine and non-routine events and transactions) that will be needed in order to maintain and systematically adjust the general ledger. ? Identifying all cash accounts and initiating timely reconciliation processes to ensure the recording of all relevant financial transactions for the inclusion in the general ledger. ? Establishing and implementing procedures and records to initiate, authorize, record process, correct, transfer to the general ledger, and report the Organizations transactions. ? Monitoring assigned personnel are completing their task timely and accurately. ? The projects major programs require accurate financial reporting to ensure compliance with the objectives and restrictions of the programs. Areas that required proposed audit adjustments are as follows: Net adjustment to current assets $ (2,251,425) Net adjustment to fixed assets $ 1,609,071 Net adjustments to noncurrent Assets $ 263,758 Net adjustments to current liabilities $ (468,326) Net adjustment to long term liabilities $ 321,435 Net adjustment to net assets $ 152,042 Net adjustment to revenues $ (339,658) Net adjustment to expenses $ 810,382 Net adjustment to gain on sale $ (233,616) Net adjustment to prior period $ 136,337 Criteria There are several key underlying accounting standards related to an organization designing and implementing an effective financial close and reporting process. Auditors are required to identify and communicate internal weaknesses according to AU-C 265 "Communicating Internal Control Related Matters Identified in an Audit". The following are a few concepts associated with this standard: ? The auditor cannot be part of a client's internal control because becoming part of a client's internal control impairs auditor independence. ? The auditor's work is independent of the client's internal control over financial reporting, and the auditor cannot be a compensating control for the client; and ? A system of internal control over the financial reporting does not stop at the general ledger- it includes controls over the presentation of the financial statements. ? Financial Close is considered a significant process of internal control and should be performed by the Organization. ? Accurate reporting and reconciliations are relevant to the compliance of the major programs. Questioned Costs - Unknown Effect The Organization was not ready for its audit in a timely manner resulting in an audit finding and multiple material adjustments. Compliance with the major program objectives was not monitored due to lack of verifiable information related to the receipt and disbursement of funds. Cause Failure to timely and accurately reconcile the transactions in cash accounts resulting in multiple material transactions not being recorded in the Organizations financial records. Insufficient review of year end balances and their underlying support. Failure to properly record transactions on an accrual basis. Recommendation We recommend the Organization institute procedures to ensure there is a proper monthly/quarterly and year-end/financial close to its accounts. We also recommend that there be a monitoring process to ensure that the records are being maintained adequately on a quarterly basis at minimum.
2020-001 Financial Close and Reporting Process Controls Corrective Action Plan to 2020 -001 As of November 1, 2021, Tierra Del Sol Housing Corporation updated its Accounting and Finance Control Manual, which is designed with processes and internal controls to have complete and auditable documentation and controls to prevent misappropriation of funds. We are confident that we have a system in place to substantiate compliance with organizational policies, regulations and laws. This includes the daily transactions of all accounting cycles to reconciliation to audit preparedness. The Accounting and Finance Control Manual incorporates by reference accounting, grant and contract federal accounting requirements such as Generally Accepted Accounting Principles, Circular A-110, and OMB 2 CFR Part 200 for federal grants and contracts. The accounting cycles identified are payroll, accounts receivable, accounts payable, assets/properties, bank reconciliations and notable areas such as grants & contracts, allocations and general ledger. Accounting cycles were assigned to accounting personnel with checks and balances to eliminate error and allow for accuracy and segregation of duties. Accounting cycles were assigned and are being reviewed and as necessary, accounting reconciliation tools were implemented to maintain full account reconciliation. This allows compliance with payable deadlines, such as insurances, contractors, client projects, and operational expenses. The payroll process is to be processed bi-weekly and performed in its entirety, all payroll checks or direct deposits, all taxes, all tax withholdings to include federal income taxes, 401k withholdings and insurances. Accurate coding in all transactions is required in all cycles for all transactions. We implemented the processes of payroll and payables on December 6, 2021. The processes implemented provides for two to three staff involvement to eliminate error and acquire full documentation for auditable cycles. Processes were set up for weekly, bi-weekly, monthly, quarterly and annually. The routines in these cycles were also identified to be monitored as assigned, thereby allowing a monthly closing of the general ledger. All federal and state requirement deadlines were designed to be met timely and accurately. These include payroll reporting, tax withholdings required, pension plans, worker's compensation; state unemployment insurance for all employees and for Tierra del Sol Housing Corporation. The remaining process was implemented and began operating in February 21, 2022, after completing and verifying a migration from online Quick Books to Desktop Quick Books Non-Profit accounting software. This provided Tierra del Sol the proper accounting system for non-profits, which allows for more integrity and accuracy in our processes and data. Adjusting entries will be numbered supported by proper documentation on a timely basis. Audit preparedness will includes the current year to audit avoiding huge reconciliation balances of multiple years. Only year-end adjusting entries should be left to prepare to the general ledger at fiscal year-end. The auditor should be provided an adjusted, clean, reconciled trial balance to be audited. All cycles identified, processed, reconciled to the general ledger allow for accurate financial statements to management and corporate board of directors and all funding sources. All cycles provide better planning and decision-making. Designated accounting staff prepare and analyzed our financial reports.
2019-001
2020-005 ? Material Weakness ? Submission of the Reporting Package to the Federal Government Federal Program Information: Federal Agency: U.S. Department of Agriculture CFDA No. 10.420 and 10.433 Statement of Condition The requirement for submitting the single audit reporting package for the year ended September 30, 2020, was no later than June 30, 2021. The audit report was completed after June 30, 2021. As a result, the reporting package was not submitted to the federal government on a timely basis. Criteria The federal Office of Management and Budget (0MB) Uniform Guidance 2 CFR 200.512(a) requires the audit package, and the data collection form shall be submitted thirty (30) days after receipt of the auditor's report, or nine months after the end of the fiscal year. Questioned Costs - Unknown. Effect Non-compliance with federal requirements, such as the submission of the single audit report and the data collection form, could jeopardize future Organization funding from the federal government. Cause Management lacks a clear understanding in respect to the Single Audit requirements. The COVID-19 pandemic delayed the gathering of records and subsequent transfer to the auditors. Recommendation We recommend the Organization devise a corrective action plan to meet their requirements of submitting their audit report within, no later than, nine months to the Federal Audit Clearinghouse as per the requirements of the Uniform Guidance.
Show full finding ▾Hide full finding ▴2020-005 ? Material Weakness ? Submission of the Reporting Package to the Federal Government Federal Program Information: Federal Agency: U.S. Department of Agriculture CFDA No. 10.420 and 10.433 Statement of Condition The requirement for submitting the single audit reporting package for the year ended September 30, 2020, was no later than June 30, 2021. The audit report was completed after June 30, 2021. As a result, the reporting package was not submitted to the federal government on a timely basis. Criteria The federal Office of Management and Budget (0MB) Uniform Guidance 2 CFR 200.512(a) requires the audit package, and the data collection form shall be submitted thirty (30) days after receipt of the auditor's report, or nine months after the end of the fiscal year. Questioned Costs - Unknown. Effect Non-compliance with federal requirements, such as the submission of the single audit report and the data collection form, could jeopardize future Organization funding from the federal government. Cause Management lacks a clear understanding in respect to the Single Audit requirements. The COVID-19 pandemic delayed the gathering of records and subsequent transfer to the auditors. Recommendation We recommend the Organization devise a corrective action plan to meet their requirements of submitting their audit report within, no later than, nine months to the Federal Audit Clearinghouse as per the requirements of the Uniform Guidance.
2020-005 Response to Material Weakness ? Submission of the Reporting Package to the Government Clearinghouse Prevailing circumstances, some of which were out of our control, caused the audit for the period ending on September 30, 2020, to been late in its completion. Therefore, the Tierra del Sol reporting to the government clearinghouse is consequently late. The 2020 audit has been completed and reporting will be sent by July 15, 2022 or sooner. The audit preparation for fiscal period ending September 30, 2021, is currently underway and it is anticipated to be ready to be audited in August 2021, and after completion, this audit report packet will be sent to the government clearinghouse. It was due June 30, 2022. Every effort is being made to complete this audit and to move forward in a timely manner. The audit for fiscal period ending September 30, 2022, is anticipated to be completed in January 2023. Thus, we plan to send the audit packet well before the due date of June 30, 2023
FAC accepted this audit on October 28, 2021 — management decision was due April 28, 2022.
The Organization has not implemented effective financial close and reporting process controls for the year ended September 30, 2019. The financial close should include but not be limited to: See Schedule of Findings and Questioned Costs for chart/table. Areas that required proposed audit adjustments are as follows: See Schedule of Findings and Questioned Costs for chart/table. Criteria: There are several key underlying accounting standards related to an organization designing and implementing an effective financial close and reporting process. Auditors are required to identify and communicate internal weaknesses according to AU-C 265 ?Communicating Internal Control Related Matters Identified in an Audit?. The following are a few concepts associated with this standard: See Schedule of Findings and Questioned Costs for chart/table. Effect: The Organization was not ready for its audit in a timely manner resulting in an audit finding and multiple material adjustments. Compliance with the major program objectives was not monitored due to lack of verifiable information related to the receipt and disbursement of funds. Cause: Failure to timely and accurately reconcile the transactions in cash accounts resulting in multiple material transactions not being recorded in the Organizations financial records. Insufficient review of year end balances and their underlying support. Failure to properly record transactions on an accrual basis. Recommendation: We recommend the Organization institute procedures to ensure there is a proper monthly/quarterly and year-end/financial close to its accounts. We also recommend that there be a monitoring process to ensure that the records are being maintained adequately on a quarterly basis at minimum.
Show full finding ▾Hide full finding ▴Statement of Condition: The Organization has not implemented effective financial close and reporting process controls for the year ended September 30, 2019. The financial close should include but not be limited to: See Schedule of Findings and Questioned Costs for chart/table. Areas that required proposed audit adjustments are as follows: See Schedule of Findings and Questioned Costs for chart/table. Criteria: There are several key underlying accounting standards related to an organization designing and implementing an effective financial close and reporting process. Auditors are required to identify and communicate internal weaknesses according to AU-C 265 ?Communicating Internal Control Related Matters Identified in an Audit?. The following are a few concepts associated with this standard: See Schedule of Findings and Questioned Costs for chart/table. Effect: The Organization was not ready for its audit in a timely manner resulting in an audit finding and multiple material adjustments. Compliance with the major program objectives was not monitored due to lack of verifiable information related to the receipt and disbursement of funds. Cause: Failure to timely and accurately reconcile the transactions in cash accounts resulting in multiple material transactions not being recorded in the Organizations financial records. Insufficient review of year end balances and their underlying support. Failure to properly record transactions on an accrual basis. Recommendation: We recommend the Organization institute procedures to ensure there is a proper monthly/quarterly and year-end/financial close to its accounts. We also recommend that there be a monitoring process to ensure that the records are being maintained adequately on a quarterly basis at minimum.
Views of Responsible Officials and Corrective Action Plan: This response to the audit findings is submitted by Tierra del Sol Housing Corporation management. For purposes of its authority, management as referenced in the response constitutes the following three components: comptroller; executive director and program management; the board finance committee and the board of directors acting as a whole. Accordingly, management acknowledges its responsibility for the preparation and adequate presentation of consolidated financial statement in accordance with generally accepted standards that address the following the design, implementation, and maintenance of internal controls in its accounting functions. Within the context of the preparation for the subject audit, it is noted that Tierra del Sol Housing Corporation experienced exigent circumstances with significant reduction in staff levels, the departure of experienced accounting leadership personnel and a corresponding departmental restructuring. Tierra del Sol Housing Corporation has accounting policies and procedures, which were established; reviewed and maintained by management. Tierra del Sol Housing Corporation management have been used in context of improving efficiencies vis-a-vis accounting controls directed to accurate transactional data recording and reliable financial reporting. The Management will monitor and analyze the internal control and structure of Tierra del Sol. Modifications if needed will be completed by program directors in conjunction with third party accountant. Management will review and undertake the revision of accounting controls as may be appropriate and necessary. It will include the following but not limited to: See Corrective Action Plan for chart/table. Management is committed to ensure that accounting controls and monitoring result in accurate transactional data recording and reliable financial reporting. It will assure that the general ledger is maintained and that a trial balance will be prepared monthly; that reconciliations will be performed between the control accounts maintained in the general ledger and subsidiary ledgers. Management will take steps to confirm bank reconciliations are performed monthly to document the accuracy of bank balances shown in the general ledger, data on cash receipts and disbursement.
FAC accepted this audit on April 23, 2019 — management decision was due October 23, 2019.
FAC accepted this audit on May 3, 2018 — management decision was due November 3, 2018.
FAC accepted this audit on April 6, 2017 — management decision was due October 6, 2017.
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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