EIN: 953807642
UEI: Z235CMRLJZ97
Data as of August 22, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on September 23, 2019. 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 23, 2020 (2344 days ago).
What is a management decision? →CFDA title and number (federal award identification and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (075-11146-REF and 2013) Auditor non-compliance code: N - Reserve for Replacement Deposits Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size is not applicable to the finding. Statistically valid sample: No Name of Federal Agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $190 Statement of Condition 2019-001 (CFDA 14.155): The Corporation did not make the total required reserve for replacements deposits during the year ended June 30, 2019. Criteria: Pursuant to Section 10b of the Regulatory Agreement, the Property is required to make monthly deposits to the reserve for replacements fund as required by HUD. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement and the reserve for replacements is underfunded by $190 at June 30, 2019. Cause: The required reserve for replacement deposits increased effective February 1, 2019, and the Property did not increase its monthly deposits. Recommendation: Management should transfer $190 from operating cash to the reserve for replacements fund. Completion Date: August 13, 2019 Management Response: Agree. On August 13, 2019, Management transferred $190 from operating cash to the reserve for replacements fund.
Show full finding ▾Hide full finding ▴CFDA title and number (federal award identification and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (075-11146-REF and 2013) Auditor non-compliance code: N - Reserve for Replacement Deposits Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size is not applicable to the finding. Statistically valid sample: No Name of Federal Agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $190 Statement of Condition 2019-001 (CFDA 14.155): The Corporation did not make the total required reserve for replacements deposits during the year ended June 30, 2019. Criteria: Pursuant to Section 10b of the Regulatory Agreement, the Property is required to make monthly deposits to the reserve for replacements fund as required by HUD. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement and the reserve for replacements is underfunded by $190 at June 30, 2019. Cause: The required reserve for replacement deposits increased effective February 1, 2019, and the Property did not increase its monthly deposits. Recommendation: Management should transfer $190 from operating cash to the reserve for replacements fund. Completion Date: August 13, 2019 Management Response: Agree. On August 13, 2019, Management transferred $190 from operating cash to the reserve for replacements fund.
Statement of condition 2019-001: The Corporation did not make the total required reserve for replacement deposits during the year ended June 30, 2019. Recommendation: Management should transfer $190 from operating cash to the reserve for replacements fund. Action(s) taken or planned on the finding: Agree. On August 13, 2019, Management transferred $190 from operating cash to the reserve for replacements fund.
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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