EIN: 860271216
UEI: CGW6ZEB6NAA5
Audited by: Eide Bailly
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 December 19, 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 June 19, 2026 (72 days ago).
What is a management decision? →FAC accepted this audit on October 8, 2024 — management decision was due April 8, 2025.
FAC accepted this audit on October 30, 2023 — management decision was due April 30, 2024.
During testing of the reserve for replacement account, we noted incorrect deposit amounts were being funded to the account for 7 of 12 months. This error resulted in the reserve for replacement account to be underfunded by $1,148 as of June 30, 2023. Cause: Due to oversight by management, the change in required monthly deposits was not properly implemented. Effect: The Project was not in compliance with HUD requirements as it relates to the restricted funds. Questioned Costs: $1,148 Context/Sampling: None Repeat Finding from Prior Year(s): No Recommendation: We recommend that the Project comply with the HUD requirements and deposit $1,148 to the reserve for replacement account. As of August 17, 2023, management funded the reserve for replacement account with the underfunded amounts. Views of Responsible Officials: Management agrees with the finding.
Show full finding ▾Hide full finding ▴Criteria: Under the regulatory agreement with HUD, the Corporation is required to maintain certain cash accounts in compliance with HUD requirements. Condition: During testing of the reserve for replacement account, we noted incorrect deposit amounts were being funded to the account for 7 of 12 months. This error resulted in the reserve for replacement account to be underfunded by $1,148 as of June 30, 2023. Cause: Due to oversight by management, the change in required monthly deposits was not properly implemented. Effect: The Project was not in compliance with HUD requirements as it relates to the restricted funds. Questioned Costs: $1,148 Context/Sampling: None Repeat Finding from Prior Year(s): No Recommendation: We recommend that the Project comply with the HUD requirements and deposit $1,148 to the reserve for replacement account. As of August 17, 2023, management funded the reserve for replacement account with the underfunded amounts. Views of Responsible Officials: Management agrees with the finding.
We concur that the required increase in the monthly deposits to the reserve for replacement was not implemented on a timely basis. We have re-trained the management staff to follow up with the HUD and contractor administrator staff to forward the increase to the reserve for replacement deposit as part of the OCAF rent increase for properties we manage. We contated the mortgage company and the additional $1,148 shortfall was wired from the property bank account on August 17, 2023. This was resolved as fo August 31, 2023.
FAC accepted this audit on October 17, 2022 — management decision was due April 17, 2023.
FAC accepted this audit on October 4, 2021 — management decision was due April 4, 2022.
FAC accepted this audit on October 26, 2020 — management decision was due April 26, 2021.
FAC accepted this audit on October 3, 2019 — management decision was due April 3, 2020.
FAC accepted this audit on September 26, 2018 — management decision was due March 26, 2019.
FAC accepted this audit on September 28, 2017 — management decision was due March 28, 2018.
FAC accepted this audit on September 13, 2016 — management decision was due March 13, 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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