EIN: 943163802
UEI: DGP5JRDHNEZ8
Audited by: Loveridge Hunt & Co. PLLC
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 March 31, 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 October 1, 2026 (27 days from today).
What is a management decision? →During our audit of the HUD Section 202 project for the year ended June 30, 2025, we noted that the project made withdrawals from the Replacement Reserve account totaling $3,980 without obtaining prior written approval from HUD. Subsequent to year end, management refunded the full amount of the unauthorized withdrawals to the Replacement Reserve account on January 20, 2026. Cause: Management did not have sufficient internal controls to ensure that HUD approval was obtained prior to making withdrawals from the Replacement Reserve. Effect or Potential Effect and Perspective: The project was not in compliance with HUD requirements during the audit period due to unauthorized Replacement Reserve withdrawals. Although the reserve was fully reimbursed subsequent to year end, the noncompliance occurred during the audit period and may have subjected the project to HUD enforcement actions. Auditor Non-Compliance Code: A - Unauthorized withdrawals from replacement reserve account Questioned Costs: Question costs related to this finding total $3,980, representing Replacement Reserve withdrawals made without HUD approval during the audit period. These amounts were fully refunded to the Replacement Reserve account subsequent to year end. Reporting Views of Responsible Officials: Management agrees with the finding. Please identify the property(s) and associated questioned costs this finding applies to: Moore Street Seniors FHA/Contract Number: 176-EE00 Context: Management withdrew funds from the Replacement Reserve account to address project-related needs; however, the withdrawal was processed prior to obtaining written approval from HUD, as required. Management indicated that they believed the expenditures were allowable and consistent with the intended use of Replacement Reserve funds but acknowledged that HUD approval had not been received at the time of withdrawal. Recommendation: We recommend management obtain HUD approval prior to all future Replacement Reserve withdrawals. Implement procedures to ensure reserve disbursements are reviewed for compliance with HUD requirements before payment. Retain evidence of HUD approvals to support future audits. Auditor's Summary of Auditee's Comments on the Findings and Recommendations: Management agrees with the auditor. Response Indicator: Agree Completion Date: 1/20/2026 Response: Management agreed with the finding and has implemented a corrective action plan.
Show full finding ▾Hide full finding ▴Title and CFDA Number of Federal Program: Supportive Housing for the Elderly - Section 202 (Assistance Listing No. 14.157) Type of Finding: Federal Award Finding Finding Resolution Status: Resolved Information on Universe and Population Size: Population is eleven (11) replacement reserve withdrawals during the audit period. Sample Size Information: 11 Identification of Repeat Finding and Finding Reference Number: Not a repeat finding Criteria: HUD regulations require that withdrawals from the Replacement Reserve account be made only with prior written approval from HUD and in accordance with the project's Regulatory Agreement and HUD Handbook 4350.1 and 4370.2, REV-1. Statement of Condition: During our audit of the HUD Section 202 project for the year ended June 30, 2025, we noted that the project made withdrawals from the Replacement Reserve account totaling $3,980 without obtaining prior written approval from HUD. Subsequent to year end, management refunded the full amount of the unauthorized withdrawals to the Replacement Reserve account on January 20, 2026. Cause: Management did not have sufficient internal controls to ensure that HUD approval was obtained prior to making withdrawals from the Replacement Reserve. Effect or Potential Effect and Perspective: The project was not in compliance with HUD requirements during the audit period due to unauthorized Replacement Reserve withdrawals. Although the reserve was fully reimbursed subsequent to year end, the noncompliance occurred during the audit period and may have subjected the project to HUD enforcement actions. Auditor Non-Compliance Code: A - Unauthorized withdrawals from replacement reserve account Questioned Costs: Question costs related to this finding total $3,980, representing Replacement Reserve withdrawals made without HUD approval during the audit period. These amounts were fully refunded to the Replacement Reserve account subsequent to year end. Reporting Views of Responsible Officials: Management agrees with the finding. Please identify the property(s) and associated questioned costs this finding applies to: Moore Street Seniors FHA/Contract Number: 176-EE00 Context: Management withdrew funds from the Replacement Reserve account to address project-related needs; however, the withdrawal was processed prior to obtaining written approval from HUD, as required. Management indicated that they believed the expenditures were allowable and consistent with the intended use of Replacement Reserve funds but acknowledged that HUD approval had not been received at the time of withdrawal. Recommendation: We recommend management obtain HUD approval prior to all future Replacement Reserve withdrawals. Implement procedures to ensure reserve disbursements are reviewed for compliance with HUD requirements before payment. Retain evidence of HUD approvals to support future audits. Auditor's Summary of Auditee's Comments on the Findings and Recommendations: Management agrees with the auditor. Response Indicator: Agree Completion Date: 1/20/2026 Response: Management agreed with the finding and has implemented a corrective action plan.
To ensure compliance with Reserve for Replacement (R4R) disbursement requirements, we have updated our monthly review process. In addition to attaching approved requests to checks, the onsite manager will now perform a monthly reconciliation of the R4R bank statement against HUD-approved withdrawal authorizations. Any transaction lacking a corresponding HUD approval form will be flagged immediately for reimbursement to the account.
FAC accepted this audit on March 30, 2025 — management decision was due September 30, 2025.
FAC accepted this audit on February 13, 2023 — management decision was due August 13, 2023.
FAC accepted this audit on May 22, 2022 — management decision was due November 22, 2022.
Moore Street Seniors, Inc. failed to timely transfer the Surplus Cash into the Residual Receipts account. Questioned Costs: Unknown. Context: Upon review of the Residual Receipts activity after year end, the Surplus Cash was not transferred to the restricted Residual Receipts account in a timely manner. Effect: Moore Street Seniors, Inc. is not in compliance with HUD-9839-B, paragraph 4(g) and 24 CFR 891.600(e). Cause: Moore Street Seniors, Inc. did not have controls in place to identify the requirements of transferring Surplus Cash in a timely manner. Recommendation: The Organization should immediately transfer the required amounts of Surplus Cash to the Residual Receipts account, per the Supplemental Schedules Required by REAC page in the financial statements, and implement controls to ensure future compliance.
Show full finding ▾Hide full finding ▴SECTION III - FEDERAL AWARDS FINDINGS AND QUESTIONED COSTS 2021-001: Failure to deposit Surplus Cash in the Residual Receipts account CFDA No. and Name: 14.157 - Supportive Housing for the Elderly (Section 202) Federal Agency: U.S. Department of Housing and Urban Development Award No. and Year: 176-EE001 - 2021 Criteria: Pursuant to HUD-9839-B, paragraph 4(g) and 24 CFR 891.600(e), the Organization is required to invest project funds in accordance with HUD policies. Surplus Cash is required to be transferred into a Residual Receipts account within 90 days of the year end. The use of these funds is restricted and based on HUD's approval. Condition: Moore Street Seniors, Inc. failed to timely transfer the Surplus Cash into the Residual Receipts account. Questioned Costs: Unknown. Context: Upon review of the Residual Receipts activity after year end, the Surplus Cash was not transferred to the restricted Residual Receipts account in a timely manner. Effect: Moore Street Seniors, Inc. is not in compliance with HUD-9839-B, paragraph 4(g) and 24 CFR 891.600(e). Cause: Moore Street Seniors, Inc. did not have controls in place to identify the requirements of transferring Surplus Cash in a timely manner. Recommendation: The Organization should immediately transfer the required amounts of Surplus Cash to the Residual Receipts account, per the Supplemental Schedules Required by REAC page in the financial statements, and implement controls to ensure future compliance.
Finding Number 2021-001 Responsible Individual: Vivian Stiver Management's View: Agree Corrective Action: Moore Street Seniors, Inc. is working with its management company to complete the transfer of Surplus Cash. Anticipated Completion Date: May 9, 2022
FAC accepted this audit on February 25, 2021 — management decision was due August 25, 2021.
FAC accepted this audit on September 29, 2019 — management decision was due March 29, 2020.
FAC accepted this audit on October 11, 2018 — management decision was due April 11, 2019.
FAC accepted this audit on September 27, 2017 — management decision was due March 27, 2018.
FAC accepted this audit on September 29, 2016 — management decision was due March 29, 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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