EIN: 901069445
UEI: HT2JXAGHW9Z7
Audited by: WHARTON CPA, 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 24, 2023. 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 24, 2024 (888 days ago).
What is a management decision? →The Project did not prepare a HUD 9250 to remit excess residual receipts nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Effect: The allowable balance is $11,000 ($250 X 44 units), resulting in excess residual receipts. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD.
Show full finding ▾Hide full finding ▴2022-1 Excess Residual Receipts Condition: The Project did not prepare a HUD 9250 to remit excess residual receipts nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Effect: The allowable balance is $11,000 ($250 X 44 units), resulting in excess residual receipts. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD.
2022-1 Excess Residual Receipts Condition: The Project did not prepare a HUD 9250 to remit excess residual receipts nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Effect: The allowable balance is $11,000 ($250 X 44 units), resulting in excess residual receipts. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD. Management Response: It is our understanding that the Board of Directors will be requesting a meeting with HUD to discuss the dissolution of this item. Upon meeting with HUD it will be discharged.
2021-003
FAC accepted this audit on April 29, 2022 — management decision was due October 29, 2022.
Payroll reconciliations are not performed during the year when personnel is shared among properties. Criteria: A sufficient audit trail tracks accounting data to its source for verification. Cause: There is no documentation for allocating shared personnel among the properties. Effect: Payroll differences by property were reconciled during the audit. Recommendation: I recommend management utilize the allocation spreadsheet developed by the auditors to properly track the allocation of shared employees throughout the year.
Show full finding ▾Hide full finding ▴2021-1 Payroll Allocation Condition: Payroll reconciliations are not performed during the year when personnel is shared among properties. Criteria: A sufficient audit trail tracks accounting data to its source for verification. Cause: There is no documentation for allocating shared personnel among the properties. Effect: Payroll differences by property were reconciled during the audit. Recommendation: I recommend management utilize the allocation spreadsheet developed by the auditors to properly track the allocation of shared employees throughout the year.
Management will utilize the allocation spreadsheet developed by the auditors to properly track payroll allocation on a monthly basis.
Management failed to collect monthly lease payments resulting in tenants accruing large amounts of past due rent. Criteria: Monthly tenant lease payments should be collected and payable according to the terms of the HUD model lease. Cause: Site managers did not carry out the terms of the HUD-model lease and collect rent due. Effect: Tenant accounts receivables included significant amounts of unpaid rent for current residents. Recommendation: I recommend management develop and implement a collection policy. Part III
Show full finding ▾Hide full finding ▴2021 ?2 Collection of Tenant Accounts Receivable Condition: Management failed to collect monthly lease payments resulting in tenants accruing large amounts of past due rent. Criteria: Monthly tenant lease payments should be collected and payable according to the terms of the HUD model lease. Cause: Site managers did not carry out the terms of the HUD-model lease and collect rent due. Effect: Tenant accounts receivables included significant amounts of unpaid rent for current residents. Recommendation: I recommend management develop and implement a collection policy. Part III
Management has a collection policy in place. However, it was difficult to enforce filing of eviction due to the rent moratorium over the past two years due to COVID-19.
The Project did not prepare a HUD 9250 to remit excess residual receipts nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Effect: Residual receipts balance is $98,578 as of December 31, 2021. The allowable balance is $11,000 ($250 X 44 units), resulting in excess residual receipts of $87,578. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD.
Show full finding ▾Hide full finding ▴2021-3 Excess Residual Receipts Condition: The Project did not prepare a HUD 9250 to remit excess residual receipts nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Effect: Residual receipts balance is $98,578 as of December 31, 2021. The allowable balance is $11,000 ($250 X 44 units), resulting in excess residual receipts of $87,578. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD.
Management is aware of the funds. Management has identified things to do to improve the property which will in turn improve the quality of life for the residents, because this is their home. Management is in the process of securing bids to send to HUD for approval.
FAC accepted this audit on April 29, 2021 — management decision was due October 29, 2021.
FAC accepted this audit on September 15, 2020 — management decision was due March 15, 2021.
FAC accepted this audit on March 25, 2019 — management decision was due September 25, 2019.
GSA_MIGRATION
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GSA_MIGRATION
2017-001
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2017-002
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2017-004
FAC accepted this audit on September 6, 2018 — management decision was due March 6, 2019.
GSA_MIGRATION
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GSA_MIGRATION
FAC accepted this audit on April 30, 2017 — management decision was due October 30, 2017.
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