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Corrective Action Plans

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Belmont Elderly Housing, Inc.
NH
HUD Housing Programs Internal Control / Segregation of Duties
Plan: A procedure has been implemented to ensure that at least two people in the agency have EIV Coordinator level access. This guarantees that someone within the agency always has the ability to grant or remove staff permissions and to run EIV reports in compliance with HUD requirements. The final...
Plan: A procedure has been implemented to ensure that at least two people in the agency have EIV Coordinator level access. This guarantees that someone within the agency always has the ability to grant or remove staff permissions and to run EIV reports in compliance with HUD requirements. The final permission settings for the second coordinator are currently being verified and tested. Anticipated Completion Date: 07/31/2024 Responsible person: Jackie Oliveira, Director of Affordable Housing
View Audit 314972
Finding 478174 (2024-001)
Significant Deficiency 2024
Village of Lawrence, Inc.
KS
HUD Housing Programs Reporting Significant Deficiency § 200.512
The Board of Directors will designate an individual to document financial statement preparation processes which ensure timely submission of the Single Audit Reporting Package.
The Board of Directors will designate an individual to document financial statement preparation processes which ensure timely submission of the Single Audit Reporting Package.
View Audit 314842
Prairie Estates
MO
HUD Housing Programs
The deposit was delayed due to cash flow issues from service coordinator funding not being allocated for two years, and therefore, eleven monthly deposits were made in a lump sum in March, 2024. Since the end of the fiscal year, monthly deposits have been made and management is committed to ensuring...
The deposit was delayed due to cash flow issues from service coordinator funding not being allocated for two years, and therefore, eleven monthly deposits were made in a lump sum in March, 2024. Since the end of the fiscal year, monthly deposits have been made and management is committed to ensuring the required deposits are made monthly going forward. Person(s) Responsible: Aaron Franklin, Karen Webber Timing for Implementation: Completed 04/01/2024
View Audit 311203
Finding 403361 (2024-001)
Significant Deficiency 2024
Ott's Branch Elderly Housing, Inc.
SC
Questioned Costs Subrecipient Monitoring HUD Housing Programs
Finding #2024-001 Comments on Findings and Recommendation: During the year ended March 31, 2024, deposits to the reserve for replacements account were $236 less than the required amount. Management should transfer $236 from the operating account to the reserve for replacements account. Action(s) tak...
Finding #2024-001 Comments on Findings and Recommendation: During the year ended March 31, 2024, deposits to the reserve for replacements account were $236 less than the required amount. Management should transfer $236 from the operating account to the reserve for replacements account. Action(s) taken or planned on the finding: Management concurs with the finding and recommendation.
View Audit 310491 Questioned Costs: $1
Church Street Estates Corp.
RI
Questioned Costs HUD Housing Programs Internal Control / Segregation of Duties
Management will correct the next voucher
Management will correct the next voucher
View Audit 305045 Questioned Costs: $1
Church Street Estates Corp.
RI
HUD Housing Programs Internal Control / Segregation of Duties
Management has corrected the errors
Management has corrected the errors
View Audit 305045
Finding 1174703 (2023-014)
Material Weakness 2023
City of Woonsocket
RI
Special Tests & Provisions HUD Housing Programs Significant Deficiency
Reference Number: 2023-014 Finding: Housing Quality Standards Inspections for the HOME Program Name of Contact Person: Lara Auclair Corrective Active Plan: The division of housing and community development is now fully staffed, which will ensure that proper monitoring is completed annually. Current ...
Reference Number: 2023-014 Finding: Housing Quality Standards Inspections for the HOME Program Name of Contact Person: Lara Auclair Corrective Active Plan: The division of housing and community development is now fully staffed, which will ensure that proper monitoring is completed annually. Current staff has completed HUD training modules on monitoring to ensure that monitoring that takes place will follow all guidelines. With the updated catalogue of all HOME loans, the division of housing and community development can have an accurate list of properties that are in the period of affordability and subject to monitoring. Staff will refer to monitoring files from previous years to create documents and letters to be sent to homeowners. Proposed Completion Date: 6/30/26
View Audit 388245
Finding 1174702 (2023-013)
Material Weakness 2023
City of Woonsocket
RI
Procurement, Suspension & Debarment Eligibility HUD Housing Programs
Reference Number: 2023-013 Finding: Eligibility Determinations for the HOME Program Name of Contact Person: Lara Auclair Corrective Active Plan: The City of Woonsocket has developed policies and procedures in order to facilitate the proper standards for documentation of income eligibility. The depar...
Reference Number: 2023-013 Finding: Eligibility Determinations for the HOME Program Name of Contact Person: Lara Auclair Corrective Active Plan: The City of Woonsocket has developed policies and procedures in order to facilitate the proper standards for documentation of income eligibility. The department will ensure that proper approvals will be solicited from the HOME Program Compliance Officer after thorough review. Written agreement documentation will be revised to include the requirements from the new compliance manual. The City of Woonsocket plans to procure grant management software which will streamline the application process and allow for improved recordkeeping to ensure compliance with all policies and procedures. Proposed Completion Date: 6/30/26
View Audit 388245
Finding 1174136 (2023-002)
Material Weakness 2023
HOMES OF MONTCLAIR ECUMENICAL CORP
NJ
Subrecipient Monitoring HUD Housing Programs Material Weakness
During 2020 – 2022, HOMECorp’s management team was significantly impacted by COVID and despite PPP loan retention efforts we lost all our staff and transitioned our HUD Certified Housing Counselor to Property Manager. Due to staffing shortages and restricted to access to apartments as a result of he...
During 2020 – 2022, HOMECorp’s management team was significantly impacted by COVID and despite PPP loan retention efforts we lost all our staff and transitioned our HUD Certified Housing Counselor to Property Manager. Due to staffing shortages and restricted to access to apartments as a result of health concerns, our property manager was unable to perform Housing Quality Standards Inspections. The new Executive Director has contracted with a General Contractor to help assist our property manager with Housing Quality Standards Inspections. These inspections are conducted annually with detailed inspection logs for HVAC, Painting, Fire Safety, and major unit renovations maintained and tracked in our digital database. These logs are reviewed and updated on a quarterly basis to ensure timeliness in compliance and maintenance requests.
View Audit 387791
Finding 1174135 (2023-001)
Material Weakness 2023
HOMES OF MONTCLAIR ECUMENICAL CORP
NJ
Subrecipient Monitoring Eligibility HUD Housing Programs
Management concurs with the finding. The Organization revised its tenant monitoring procedures to ensure timely annual recertification of income and compliance with HUD rent adjustment requirements. Training is being provided to all property management staff, and management has implemented procedure...
Management concurs with the finding. The Organization revised its tenant monitoring procedures to ensure timely annual recertification of income and compliance with HUD rent adjustment requirements. Training is being provided to all property management staff, and management has implemented procedures to ensure all required actions are taken when a tenant becomes over-income.
View Audit 387791
Finding 1172734 (2023-002)
Material Weakness 2023
Town of Guilderland
NY
HUD Housing Programs Reporting
Finding Reference: 2023-002 Compliance with Reporting to Housing and Urban Development Description: The financial information submission was not submitted timely. Recommendation: The Town should follow federal guidelines by submitting the audited financial statement to HUD through the REAC submissio...
Finding Reference: 2023-002 Compliance with Reporting to Housing and Urban Development Description: The financial information submission was not submitted timely. Recommendation: The Town should follow federal guidelines by submitting the audited financial statement to HUD through the REAC submission in a timely manner. Corrective Action: The Town of Guilderland Comptroller’s Office suffered significant turnover in key positions during the fiscal years of 2019 and 2021 including the retirement of the Town Comptroller and Fiscal Officer. In addition, the COVID-19 pandemic had significant impact to the Town, particularly during 2020 when remote work was encouraged. This combination and sequence of events made it impossible to meet the required external audit reporting deadlines. Since these vents, the Town has filed the vacant positions and has scheduled all remaining audits. The auditors are working as expeditiously as possible to complete the remaining audits. The required reporting noted in the guidelines above cannot be completed until each prior year audit is finished, therefore causing a delay in each fiscal year’s reporting. Person(s) Responsible for Corrective Action: Darci Efaw, Comptroller & Jessica Gulliksen, Fiscal Officer Anticipated Completion Date for Corrective Action: The remaining audits that are left to become fully in compliance have been tentatively scheduled with the external auditors since 2022. The Town of Guilderland works as efficiently as possible with the auditors to complete these remaining audits.
View Audit 386023
Finding 1171327 (2023-004)
Material Weakness 2023
Healing Action Network Inc
MO
HUD Housing Programs Reporting § 200.403
View ofResponsible Officials and Planned CorrectiveActions:Managementacknowledges anisolated payrollprocessingerrorduringfiscalyear2023in which overtime hours werenotproperlyenteredforoneemployee.Thiserrordidnotresultinquestionedcosts,asreimbursedpayrollexpenseswere less thanactualpayrollcosts incur...
View ofResponsible Officials and Planned CorrectiveActions:Managementacknowledges anisolated payrollprocessingerrorduringfiscalyear2023in which overtime hours werenotproperlyenteredforoneemployee.Thiserrordidnotresultinquestionedcosts,asreimbursedpayrollexpenseswere less thanactualpayrollcosts incurred. We retrained staffonpayrollprocessingwithemphasis onovertimeentry andverification.Weupdatedpayrollprocesses toensurepayrollstaffarenotifiedwhen overtime isapproved.Weimplementedpre-processingpayrollreconciliation andsupervisoryreviewpriortofinalsubmission.Payrollentries are subjectto supervisory reviewand periodic spotchecks.Correctiveactions havebeenimplementedand are operating onanongoingbasis.
View Audit 384599
Finding 1171244 (2023-059)
Material Weakness 2023
The Virgin Islands Hsg Finance Authority - Paradise Mills Apartments
FL
Special Tests & Provisions Eligibility HUD Housing Programs § 200.303
The Government concurs with the auditor’s findings and recommendations. VIDE is committed to addressing issues related to the participation of private school children in the COVID-19 Education Stabilization Fund. OMB will develop and implement formal policies and procedures to ensure compliance with...
The Government concurs with the auditor’s findings and recommendations. VIDE is committed to addressing issues related to the participation of private school children in the COVID-19 Education Stabilization Fund. OMB will develop and implement formal policies and procedures to ensure compliance with federal regulations. This includes establishing guidelines and a schedule for timely consultations with nonpublic schools and collaborating with the Department of Education to ensure equitable per-pupil expenditures for both private and public school children.
View Audit 384576
Finding 1170910 (2023-001)
Material Weakness 2023
Grand Island Regional Medical Center
NE
HUD Housing Programs Reporting Significant Deficiency
Personnel Responsible for Corrective Action: Tracy Schmitt, Chief Financial Officer Anticipated Completion Date: November 30, 2024 Views of Responsible Officials and Planned Corrective Action: The missed reporting was completed in November 2024 and accepted by the granting organization on February 2...
Personnel Responsible for Corrective Action: Tracy Schmitt, Chief Financial Officer Anticipated Completion Date: November 30, 2024 Views of Responsible Officials and Planned Corrective Action: The missed reporting was completed in November 2024 and accepted by the granting organization on February 27, 2025. The Medical Center has implemented a tracking procedure for all grants that includes due dates for required reporting. The Controller maintains a list of compliance requirements for each grant which is reviewed by the Chief Financial Officer. Additionally, the primary contact information for grants is updated upon any changes in personnel to ensure communications are routed to the appropriate individual for follow-up.
View Audit 384219
Finding 1170475 (2023-002)
Material Weakness 2023
Bedford Stuyvesant Restoration Corporation and Affiliates
NY
HUD Housing Programs Reporting
Reporting Finding: We noted that for the year ended June 30, 2023, monthly reports for Weatherization Assistance Program (WAP) ending 12/31/22, 01/31/23 and 04/30/23 which are due on the 20th day of the following month were submitted on 01/24/23, 02/21/23 and 05/22/23, respectively and the final CFR...
Reporting Finding: We noted that for the year ended June 30, 2023, monthly reports for Weatherization Assistance Program (WAP) ending 12/31/22, 01/31/23 and 04/30/23 which are due on the 20th day of the following month were submitted on 01/24/23, 02/21/23 and 05/22/23, respectively and the final CFR dated 06/30/23 was submitted on 09/25/23. While for American Rescue Plan Act (ARPA), monthly report ending 01/31/23 which is due on the 20th day of the following month was submitted on 02/21/23. Contact Person: Leah M. Sparrow, WAP Director Marrolin Beauzile, Accountant Corrective Actions Taken or Planned: In the later part of 2025 the agency has placed a new Program Director to oversee the program in 2025. Therefore, it was only until then that major changes began to show in our records. We plan to review the process of submitting monthly reports. We will conduct meetings with the staff responsible for submission to understand the reason for late submissions. Anticipated Completion Date: March 31, 2026.
View Audit 383646
Finding 1169787 (2023-006)
Material Weakness 2023
Temenos Community Development Corporation
TX
Special Tests & Provisions HUD Housing Programs Significant Deficiency § 200.303
2023-006 Internal Controls and Compliance over Special Tests and Provisions – Reasonable Rental Rates (Significant Deficiency) U.S. Department of Housing and Urban Development 14.267 – Continuum of Care Program 2023 Funding Recommendation: The Organization should establish procedures to ensure that ...
2023-006 Internal Controls and Compliance over Special Tests and Provisions – Reasonable Rental Rates (Significant Deficiency) U.S. Department of Housing and Urban Development 14.267 – Continuum of Care Program 2023 Funding Recommendation: The Organization should establish procedures to ensure that controls related to special tests and provisions – reasonable rental rates are consistently implemented including maintaining documentation of the verification of rental reasonableness in the program participant's file. Corrective Action: In response to the findings from the 2023 audit regarding the annual requirement for rent reasonableness, we developed the following action plan to ensure compliance with HUD regulations: 1. Annual Schedule: We established that annual rent reasonableness assessments for Temenos TCDC would be conducted each January, as required by HUD. This included comprehensive assessments for all scatter site properties. 2. Staff Reminders: A systematic reminder protocol was implemented for all staff involved in the rent reasonableness process. This included: 1. Calendar alerts 2. Email notifications 3. Regular team meetings to discuss timelines and responsibilities 3. Monitoring and Compliance: The Executive Director (ED) and Director of Operations closely monitored the compliance process to ensure assessments were completed accurately and on time. By implementing this action plan, Temenos TCDC aimed to address the 2023 audit findings effectively and ensure compliance with HUD's annual rent reasonableness requirements, including assessments for all TCDC site properties. Responsible Parties: Sandra Robicheaux – ED Ramona Edwards – Property Manager Wanda Williams – Case Manager Damita Gardner – Case Manager Terence Gomes – Case Manager Date to be Corrected: Implemented in January of 2025
View Audit 382882
Finding 1168506 (2023-001)
Material Weakness 2023
Vermont Seniors
CA
HUD Housing Programs
The Corporation should file the December 31, 2023 financial statements as soon as possible and should ensure the annual financial report is filed within 90 days in future periods or within nine months of fiscal year end if an owner certified submission was furnished to HUD.
The Corporation should file the December 31, 2023 financial statements as soon as possible and should ensure the annual financial report is filed within 90 days in future periods or within nine months of fiscal year end if an owner certified submission was furnished to HUD.
View Audit 380322
Finding 1167814 (2023-003)
Material Weakness 2023
Pohnpei Utilities Corporation
FM
Special Tests & Provisions HUD Housing Programs Reporting
PUC concurs with the auditor's recommendation. PUC will access its' needs for additional personnel and resources. October 2025, Daisy Nanpei, CFO
PUC concurs with the auditor's recommendation. PUC will access its' needs for additional personnel and resources. October 2025, Daisy Nanpei, CFO
View Audit 379154
Finding 1167797 (2023-001)
Material Weakness 2023
Hearth Homes of Waterbury, INC
CT
Cash Management HUD Housing Programs
U.S. Department of Housing & Urban Development 20 Church Street, 10th floor Hartford, CT 06103 Elderly Housing Management, Inc. respectfully submits the following corrective action plan for Hearth Homes of Waterbury, Inc. (HUD PROJECT NO. Ol 7-EE108) year ended June 30, 2023, which was audited by: B...
U.S. Department of Housing & Urban Development 20 Church Street, 10th floor Hartford, CT 06103 Elderly Housing Management, Inc. respectfully submits the following corrective action plan for Hearth Homes of Waterbury, Inc. (HUD PROJECT NO. Ol 7-EE108) year ended June 30, 2023, which was audited by: Bailey, Moore, Glazer, Shaefer & Proto LLP 16 Lunar Drive Woodbridge, CT 06525 The sole finding from the 6/30/2023 schedule of findings and questions costs is discussed below and numbered consistently with the numbers assigned in the schedule. FINDINGS- FINANCIAL STATEMENT AUDIT NONE FINDINGS - FEDERAL AW ARD PROGRAMS AUDIT DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Finding number 2023-001: 14.157 Supportive Housing for the Elderly Condition: The Project requested and received approval for reimbursement of the same invoice twice. Recommendation: Funds totaling $4,134 be returned to the replacement reserves as soon as possible. Action Taken: On November 25, 2025, a check in the amount of $4,134.00 was cut from the operating account. The funds have subsequently been returned to the replacement reserve account. If the U.S. Department of Housing and Urban Development has questions regarding this plan, please call Sabine Cox at (203-230-4809 ext. I 005)
View Audit 379091
Finding 1166948 (2023-006)
Material Weakness 2023
Mount Sinai Foundation, Incorporated 053-36322
NC
HUD Housing Programs
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully subm...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully submits the following Corrective Action Plan for the year ended December 31, 2023. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 The findings for the year ended December 31, 2023 Schedule of Findings and Questioned Costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. FINDINGS - Financial Statement Audit and Federal Award Program Audits Finding 2023-006 - U.S. Department of Housing and Urban Development, Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate (Sections 221d(3) and (4) Multifamily - Market Rate Housing), CFDA #14.135 Recommendation: That management ensure supporting documentation is maintained and reconciled for all cash receipts of the project. Action Taken: We agree with Finding 2023-006 and the recommendation described in the accompanying schedule of findings and questioned costs. The Corporation has executed a new management agreement with Remnant Management Inc. effective October 1, 2024. Remnant Management Inc. will provide additional oversight to ensure supporting documentation is maintained and reconciled for all cash receipts of the project beginning October 1, 2024 and going forward. Sincerely yours, Shannon Pow President Remnant Management, Inc. Managing Agent effective October 1, 2024
View Audit 377994
Finding 1166947 (2023-005)
Material Weakness 2023
Mount Sinai Foundation, Incorporated 053-36322
NC
HUD Housing Programs
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully subm...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully submits the following Corrective Action Plan for the year ended December 31, 2023. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 The findings for the year ended December 31, 2023 Schedule of Findings and Questioned Costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. FINDINGS - Financial Statement Audit and Federal Award Program Audits Finding 2023-005 - U.S. Department of Housing and Urban Development, Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate (Sections 221d(3) and (4) Multifamily - Market Rate Housing), CFDA #14.135 Recommendation: That management ensure that the annual financial reports to HUD are submitted by the required due dates. Action Taken: We agree with Finding 2023-005 and the recommendation described in the accompanying schedule of findings and questioned costs. The project was unable to pay the prior audit fees timely due to limited available cash flow causing a delay in the audits. Management will work to improve cash flow for timely payment of the required annual audits. Sincerely yours, Shannon Pow President Remnant Management, Inc. Managing Agent effective October 1, 2024
View Audit 377994
Finding 1166946 (2023-004)
Material Weakness 2023
Mount Sinai Foundation, Incorporated 053-36322
NC
HUD Housing Programs Reporting Matching / Level of Effort / Earmarking § 200.512
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully subm...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully submits the following Corrective Action Plan for the year ended December 31, 2023. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 The findings for the year ended December 31, 2023 Schedule of Findings and Questioned Costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. FINDINGS - Financial Statement Audit and Federal Award Program Audits Finding 2023-004 - U.S. Department of Housing and Urban Development, Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate (Sections 221d(3) and (4) Multifamily - Market Rate Housing), CFDA #14.135 Recommendation: That management ensure that the data collection forms are submitted electronically to the FAC each fiscal year going forward. Action Taken: We agree with Finding 2023-004 and the recommendation described in the accompanying schedule of findings and questioned costs. The project was unable to pay the prior audit fees timely due to limited available cash flow causing a delay in the audits. Management will work to improve cash flow for timely payment of the required annual audits. Sincerely yours, Shannon Pow President Remnant Management, Inc. Managing Agent effective October 1, 2024
View Audit 377994
Finding 1166945 (2023-003)
Material Weakness 2023
Mount Sinai Foundation, Incorporated 053-36322
NC
HUD Housing Programs Matching / Level of Effort / Earmarking
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully subm...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully submits the following Corrective Action Plan for the year ended December 31, 2023. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 The findings for the year ended December 31, 2023 Schedule of Findings and Questioned Costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. FINDINGS - Financial Statement Audit and Federal Award Program Audits Finding 2023-003 - U.S. Department of Housing and Urban Development, Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate (Sections 221d(3) and (4) Multifamily - Market Rate Housing), CFDA #14.135 Recommendation: We recommend that management monitor the annual surplus cash and all required payments from any surplus cash. Action Taken: We agree with Finding 2023-003 and the recommendation described in the accompanying schedule of findings and questioned costs. Management will submit a request to re-evaluate payments due based on no surplus cash available at December 31, 2020 - December 31, 2023. Sincerely yours, Shannon Pow President Remnant Management, Inc. Managing Agent effective October 1, 2024
View Audit 377994
Finding 1166944 (2023-002)
Material Weakness 2023
Mount Sinai Foundation, Incorporated 053-36322
NC
HUD Housing Programs
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully subm...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully submits the following Corrective Action Plan for the year ended December 31, 2023. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 The findings for the year ended December 31, 2023 Schedule of Findings and Questioned Costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. FINDINGS - Financial Statement Audit and Federal Award Program Audits Finding 2023-002 - U.S. Department of Housing and Urban Development, Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate (Sections 221d(3) and (4) Multifamily - Market Rate Housing), CFDA #14.135 Recommendation: We recommend that management ensure supporting documentation is maintained for all disbursements from project operations. Action Taken: We agree with Finding 2023-002 and the recommendation described in the accompanying schedule of findings and questioned costs. The Corporation has executed a new management agreement with Remnant Management Inc. effective October 1, 2024. Remnant Management Inc. will ensure supporting documentation is maintained for all disbursements from project operations beginning October 1, 2024 and going forward. Sincerely yours, Shannon Pow President Remnant Management, Inc. Managing Agent effective October 1, 2024
View Audit 377994
Finding 1166943 (2023-001)
Material Weakness 2023
Mount Sinai Foundation, Incorporated 053-36322
NC
HUD Housing Programs Internal Control / Segregation of Duties § 200.302 § 200.303
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully subm...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN December 3, 2025 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully submits the following Corrective Action Plan for the year ended December 31, 2023. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 The findings for the year ended December 31, 2023 Schedule of Findings and Questioned Costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. FINDINGS - Financial Statement Audit and Federal Award Program Audits Finding 2023-001 - U.S. Department of Housing and Urban Development, Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate (Sections 221d(3) and (4) Multifamily - Market Rate Housing), CFDA #14.135 Recommendation: That management review/enhance its accounting and internal control procedures to ensure that all key accounts are reconciled and reviewed with supporting evidence of such review. Action Taken: We agree with Finding 2023-001 and the recommendation described in the accompanying schedule of findings and questioned costs. The Corporation has executed a new management agreement with Remnant Management Inc. effective October 1, 2024. Remnant Management Inc. will ensure that all transactions are properly recorded and that key accounts are reconciled and reviewed on a periodic basis beginning October 1, 2024 and going forward. Sincerely yours, Shannon Pow President Remnant Management, Inc. Managing Agent effective October 1, 2024
View Audit 377994
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