EIN: 953506398
UEI: MNP9QMSAQXM4
Audited by: COHNREZNICK LLP
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 June 1, 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 December 1, 2023 (1004 days ago).
What is a management decision? →Finding No. 2022-001 Statement of Condition During the year ended June 30, 2022, a physical inspection of the property was conducted. Management failed to maintain the property in sufficient state of repair and received a failing score of 28c and 24c. Criteria In accordance with the regulatory agreement, management is required to maintain the property in good repair. Effect or Potential Effect The project was unable to obtain a passing score on its REAC inspection. Cause The procedures to ensure compliance with HUD regulations regarding physical condition of the property were not followed. Recommendation Management should implement a system that assess and conducts regular maintenance so that the project remains in satisfactory physical condition. Auditor Noncompliance Code: I - Failure to maintain property/open physical inspection Views of Responsible Officials and Planned Corrective Actions Barker Management (BMI) always took pride in the higher standards as it maintained and protocols it implements in the properties it manages. Regarding the findings in Schedule of Findings and Questioned Costs, about the REAC score of 24c, please note this, this was an inspection dated 01.25.2022 only 41 days after BMI took over the management. The inspection performed earlier was in 10.13.2021 with a score of 28c. It was again prior to BMI taken over management of the said property. Since BMI took over, it conducted surveys and meetings with tenant and hired consultants and vendors to address all the findings of items that resulted in management being transferred to BMI. As a result of BMI corrective actions, conditions improved substantially in the property. The REAC conducted on 01.10.2023 had a score of 63c which is a testimony of that progress. BMI will strive to improve the conditions to the highest standards that is accepted by BMI management confirm history of excellent property management.
Show full finding ▾Hide full finding ▴Finding No. 2022-001 Statement of Condition During the year ended June 30, 2022, a physical inspection of the property was conducted. Management failed to maintain the property in sufficient state of repair and received a failing score of 28c and 24c. Criteria In accordance with the regulatory agreement, management is required to maintain the property in good repair. Effect or Potential Effect The project was unable to obtain a passing score on its REAC inspection. Cause The procedures to ensure compliance with HUD regulations regarding physical condition of the property were not followed. Recommendation Management should implement a system that assess and conducts regular maintenance so that the project remains in satisfactory physical condition. Auditor Noncompliance Code: I - Failure to maintain property/open physical inspection Views of Responsible Officials and Planned Corrective Actions Barker Management (BMI) always took pride in the higher standards as it maintained and protocols it implements in the properties it manages. Regarding the findings in Schedule of Findings and Questioned Costs, about the REAC score of 24c, please note this, this was an inspection dated 01.25.2022 only 41 days after BMI took over the management. The inspection performed earlier was in 10.13.2021 with a score of 28c. It was again prior to BMI taken over management of the said property. Since BMI took over, it conducted surveys and meetings with tenant and hired consultants and vendors to address all the findings of items that resulted in management being transferred to BMI. As a result of BMI corrective actions, conditions improved substantially in the property. The REAC conducted on 01.10.2023 had a score of 63c which is a testimony of that progress. BMI will strive to improve the conditions to the highest standards that is accepted by BMI management confirm history of excellent property management.
Barker Management (BMI) always took pride in the higher standards as it maintained and protocols it implements in the properties it manages. Regarding the findings in Schedule of Findings and Questioned Costs, about the REAC score of 24c, please note this, this was an inspection dated 01.25.2022 only 41 days after BMI took over the management. The inspection performed earlier was in 10.13.2021 with a score of 28c. It was again prior to BMI taken over management of the said property. Since BMI took over, it conducted surveys and meetings with tenant and hired consultants and vendors to address all the findings of items that resulted in management being transferred to BMI. As a result of BMI corrective actions, conditions improved substantially in the property. The REAC conducted on 01.10.2023 had a score of 63c which is a testimony of that progress. BMI will strive to improve the conditions to the highest standards that is accepted by BMI management confirm history of excellent property management.
FAC accepted this audit on January 24, 2021 — management decision was due July 24, 2021.
The Corporation maintains its replacement reserve (residual receipts) cash in several Wells Fargo bank accounts which, as of June 30, 2020, have a combined balance of $597,301, exceeding the maximum amount covered by FDIC insurance by $347,301. The basic FDIC insurance limit is $250,000 per depositor, per insured bank. Criteria: Per the Regulatory Agreement, the Corporation shall maintain the replacement reserve balances in accounts that are fully covered by FDIC insurance. Effect: The Corporation is not in compliance with the Regulatory Agreement. Cause: Controls are not in place to ensure all reserve accounts are FDIC insured. Management Response/Corrective Action Plan: The Corporation will open new accounts with other banks. Questioned Costs: None Recommendation: The Corporation shall open new accounts with other banks or consider other means to ensure the reserves are fully insured. Auditor Noncompliance Code: Z: Other Auditee's Response: The Corporation will open new accounts with other banks.
Show full finding ▾Hide full finding ▴Finding No. 2020-001 Replacement Reserve Balances (CFDA# 14.157) Statement of Condition: The Corporation maintains its replacement reserve (residual receipts) cash in several Wells Fargo bank accounts which, as of June 30, 2020, have a combined balance of $597,301, exceeding the maximum amount covered by FDIC insurance by $347,301. The basic FDIC insurance limit is $250,000 per depositor, per insured bank. Criteria: Per the Regulatory Agreement, the Corporation shall maintain the replacement reserve balances in accounts that are fully covered by FDIC insurance. Effect: The Corporation is not in compliance with the Regulatory Agreement. Cause: Controls are not in place to ensure all reserve accounts are FDIC insured. Management Response/Corrective Action Plan: The Corporation will open new accounts with other banks. Questioned Costs: None Recommendation: The Corporation shall open new accounts with other banks or consider other means to ensure the reserves are fully insured. Auditor Noncompliance Code: Z: Other Auditee's Response: The Corporation will open new accounts with other banks.
CP-1011 CORRECTIVE ACTION PLAN Project Legal Name: Cathay Manor HUD Project No.: 122-EH117-WAH-L8 Audit Firm: CohnReznick LLP Period covered by the audit: 7/1/2019 to 6/30/2020 Corrective Action Plan prepared by: Name: Donald Toy Position: President Telephone Number: 213 626 1190 The following is a recommended format to be followed by the auditee for preparing a corrective action plan: A. Current Findings on the Schedule of Findings, Questioned Costs and Recommendations 1. Finding 2020-001 Replacement Reserve Balances (CFDA# 14.157) a. Comments on the Finding and Each Recommendation The Corporation maintains its replacement reserve (residual receipts) cash in several Wells Fargo bank accounts which, as of June 30, 2020, have a combined balance of $597,301, exceeding the maximum amount covered by FDIC insurance by $347,301. The basic FDIC insurance limit is $250,000 per depositor, per insured bank. b. Action(s) Taken or Planned on the Finding The Corporation shall open new accounts with other banks or consider means other means to ensure the reserves are fully insured.
2019-001
During the year ended June 30, 2020, the Corporation should deposit an amount of $237,245 into the replacement reserve account as per the audited financial statements as of June 30, 2020. Criteria: Per the Regulatory Agreement, the Corporation shall maintain a residual receipts account, in which the Corporation shall deposit any residual receipts realized from the operation within 60 days after the end of each fiscal year. Effect: The Corporation is not in compliance with the Regulatory Agreement. Cause: Per the Regulatory Agreement, the Corporation shall maintain a residual receipts account, in which the Corporation shall deposit any residual receipts realized from the operation within 60 days after the end of each fiscal year. Management Response/Corrective Action Plan: The Corporation will maintain controls for timely deposit of residual receipts. Questioned Costs: None Recommendation: Management should establish internal controls and procedures to ensure that the residual receipt is to be deposited timely. Auditor Noncompliance Code: B: Failure to make required residual receipts deposits Auditee's Response: The Corporation will maintain controls for timely deposit of residual receipts.
Show full finding ▾Hide full finding ▴Finding No. 2020-002 Replacement Reserve Balances (CFDA# 14.157) Statement of Condition: During the year ended June 30, 2020, the Corporation should deposit an amount of $237,245 into the replacement reserve account as per the audited financial statements as of June 30, 2020. Criteria: Per the Regulatory Agreement, the Corporation shall maintain a residual receipts account, in which the Corporation shall deposit any residual receipts realized from the operation within 60 days after the end of each fiscal year. Effect: The Corporation is not in compliance with the Regulatory Agreement. Cause: Per the Regulatory Agreement, the Corporation shall maintain a residual receipts account, in which the Corporation shall deposit any residual receipts realized from the operation within 60 days after the end of each fiscal year. Management Response/Corrective Action Plan: The Corporation will maintain controls for timely deposit of residual receipts. Questioned Costs: None Recommendation: Management should establish internal controls and procedures to ensure that the residual receipt is to be deposited timely. Auditor Noncompliance Code: B: Failure to make required residual receipts deposits Auditee's Response: The Corporation will maintain controls for timely deposit of residual receipts.
CP-1011 CORRECTIVE ACTION PLAN Project Legal Name: Cathay Manor HUD Project No.: 122-EH117-WAH-L8 Audit Firm: CohnReznick LLP Period covered by the audit: 7/1/2019 to 6/30/2020 Corrective Action Plan prepared by: Name: Donald Toy Position: President Telephone Number: 213 626 1190 The following is a recommended format to be followed by the auditee for preparing a corrective action plan: A. Current Findings on the Schedule of Findings, Questioned Costs and Recommendations 2. Finding 2020-002 Replacement Reserve Balances (CFDA# 14.157) a. Comments on the Finding and Each Recommendation During the year ended June 30, 2020, the Corporation should deposit an amount of $237,245 into the replacement reserve account as per the audited financial statements as of June 30. 2020. b. Action(s) Taken or Planned on the Finding Management should establish internal controls and procedures to ensure that the residual receipt is to be deposited timely.
FAC accepted this audit on January 2, 2020 — management decision was due July 2, 2020.
The Corporation maintains its replacement reserve cash in several Wells Fargo bank accounts which, as of June 30, 2019, have a combined balance of $507,084, exceeding the maximum amount covered by FDIC insurance by $257,084. The basic FDIC insurance limit is $250,000 per depositor, per insured bank. Criteria: Per the Regulatory Agreement, the Corporation shall maintain the replacement reserve balances in accounts that are fully covered by FDIC Insurance. Effect: The Corporation is not in compliance with the Regulatory Agreement. Cause: Controls are not in place to ensure all reserve accounts are FDIC insured. Management response/corrective action plan The Corporation will open new accounts with other banks. Questioned Costs: None Recommendation: The Corporation shall open new accounts with other banks or consider other means to ensure the reserves are fully insured. Auditor Noncompliance Code: Z: Other Auditee's Response: The Corporation will open new accounts with other banks.
Show full finding ▾Hide full finding ▴Finding No. 2019-001 Replacement Reserve Balances (CFDA# 14.157) Statement of Condition: The Corporation maintains its replacement reserve cash in several Wells Fargo bank accounts which, as of June 30, 2019, have a combined balance of $507,084, exceeding the maximum amount covered by FDIC insurance by $257,084. The basic FDIC insurance limit is $250,000 per depositor, per insured bank. Criteria: Per the Regulatory Agreement, the Corporation shall maintain the replacement reserve balances in accounts that are fully covered by FDIC Insurance. Effect: The Corporation is not in compliance with the Regulatory Agreement. Cause: Controls are not in place to ensure all reserve accounts are FDIC insured. Management response/corrective action plan The Corporation will open new accounts with other banks. Questioned Costs: None Recommendation: The Corporation shall open new accounts with other banks or consider other means to ensure the reserves are fully insured. Auditor Noncompliance Code: Z: Other Auditee's Response: The Corporation will open new accounts with other banks.
CORRECTIVE ACTION PLAN CCOA HOUSING CORP OBA CATHAY MANOR HUD PROJECT -- 122-EH117-WAH-L8 COHNREZNICK JUNE 30, 2019 CORRECTIVE ACTION PLAN PREPARED BY: DONALD TOY PRESIDENT 213 6261190 CURRENT FINDINGS 2019-1) FINDING 2-2018 CFDA# 15.157 - REPLACEMENT RESERVE BALANCES (RESIDUAL RECEIPTS)The Corporation maintains its replacement reserve cash in several Wells Fargo bank accounts which, as of June 30 2019, have a combined balance of $507,084, exceeding the maximum amount covered by FDIC insurance by $257,084. The basic FDIC insurance limit is $250,000 per depositor, per insured bank. COMMENTS ON FINDINGS AND RECOMMENDATIONS The Corporation shall open new accounts with other banks or consider other means to ensure the reserves are fully insured. ACTIONS TAKEN OR PLANNED The Corporation will open new accounts with other banks.
2018-002
FAC accepted this audit on October 22, 2018 — management decision was due April 22, 2019.
GSA_MIGRATION
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GSA_MIGRATION
2017-002
FAC accepted this audit on October 22, 2018 — management decision was due April 22, 2019.
GSA_MIGRATION
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GSA_MIGRATION
2016-001
GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on September 14, 2016 — management decision was due March 14, 2017.
GSA_MIGRATION
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GSA_MIGRATION
2015-001
GSA_MIGRATION
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GSA_MIGRATION
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