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Corrective Action Plans

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Finding 1208285 (2024-004)
Material Weakness 2024
Ashmore Homes, Inc.
MD
Eligibility HUD Housing Programs Significant Deficiency
Tenant File Review - Review all tenant files; obtain and file missing documentation - May 2026 Policies and procedures - Update and document procedures; implement standardized checklist; supervisory review required. - May 2026 Staff Training - Train staff on HUD eligibility, documentation standards,...
Tenant File Review - Review all tenant files; obtain and file missing documentation - May 2026 Policies and procedures - Update and document procedures; implement standardized checklist; supervisory review required. - May 2026 Staff Training - Train staff on HUD eligibility, documentation standards, and updated procedures Ongoing Monitoring - Quarterly internal audits; COO and Board Finance Committee review of compliance - ongoing Oversight and Reporting - CFO/Controller review monthly reconciliations; provide quarterly updates to finance committee - ongoing
View Audit 399313
Finding 1208284 (2024-003)
Material Weakness 2024
Ashmore Homes, Inc.
MD
HUD Housing Programs Reporting
Compliance Calendar - Implement a calendar for all federal reporting deadlines with advance reminders - May 2026 Month-End and Year-End Close - Standardize closing procedures; set internal deadlines ahead of REAC requirement - May 2026 Oversight and Monitoring - CFO review of compliance; periodic up...
Compliance Calendar - Implement a calendar for all federal reporting deadlines with advance reminders - May 2026 Month-End and Year-End Close - Standardize closing procedures; set internal deadlines ahead of REAC requirement - May 2026 Oversight and Monitoring - CFO review of compliance; periodic updates to CEO and Board Finance Committee Contingency Procedure - Submit owner-certified report if audited statements not finalized within 90 days - as needed
View Audit 399313
Finding 1206609 (2024-002)
Material Weakness 2024
Bishop's Commons, Inc.
NY
HUD Housing Programs
The submission was completed on March 7, 2025.
The submission was completed on March 7, 2025.
View Audit 398696
Finding 1206577 (2024-003)
Material Weakness 2024
Bii Di Gain Dash Anwebi Elder Housing 092-Ee140
MN
Cash Management Eligibility HUD Housing Programs
Federal Program - U.S. Department of Housing and Urban Development Assistance Listing Number 14.157 - Supportive Housing for the Elderly (Section 202) Material Weakness & Noncompliance Category of Finding - Cash Management Name of contact person – Nation Wright, AICDC Chief Operating Officer Correct...
Federal Program - U.S. Department of Housing and Urban Development Assistance Listing Number 14.157 - Supportive Housing for the Elderly (Section 202) Material Weakness & Noncompliance Category of Finding - Cash Management Name of contact person – Nation Wright, AICDC Chief Operating Officer Corrective action – The Corporation has changed management agent to Tapestry which has the procedures and controls in place to detect and prevent a similar finding to occur in the future. Completion date – Management and the Board of Directors implemented the above as of December 2024.
View Audit 398632
Finding 1206482 (2024-001)
Material Weakness 2024
Vermont Seniors
CA
HUD Housing Programs
The Corporation should file the December 31, 2024 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, 2024 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 398519
Finding 1206458 (2024-005)
Material Weakness 2024
Regional School Unit #54 - Msad #54
ME
Reporting HUD Housing Programs
Management Response/Corrective Action Plan: Management is in the process of reviewing current meal count procedures to identify gaps and inconsistencies in documentation and reporting practices. The goal is to strengthen internal controls and ensure that the meal counting process is both accurate an...
Management Response/Corrective Action Plan: Management is in the process of reviewing current meal count procedures to identify gaps and inconsistencies in documentation and reporting practices. The goal is to strengthen internal controls and ensure that the meal counting process is both accurate and auditable.
View Audit 398467
Finding 1206392 (2024-003)
Material Weakness 2024
Hollywood West Tenant Action Committee
CA
Subrecipient Monitoring HUD Housing Programs
Name of auditee: Hollywood West Tenant Action Committee HUD auditee identification number: 122-44641 Name of audit firm: Dauby O'Connor & Zaleski, LLC Period covered by the audit: Year ended June 30, 2024 CAP prepared by Name: Noel Sweitzer Position: President, HDSI Management, Inc. Telephone number...
Name of auditee: Hollywood West Tenant Action Committee HUD auditee identification number: 122-44641 Name of audit firm: Dauby O'Connor & Zaleski, LLC Period covered by the audit: Year ended June 30, 2024 CAP prepared by Name: Noel Sweitzer Position: President, HDSI Management, Inc. Telephone number: (323) 231-1104 Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations Statement of condition 2024-003: The Corporation did not furnish HUD with a complete annual financial report within ninety (90) days following the year ended June 30, 2024. Recommendation: The Corporation should ensure the annual financial report is filed within 90 days of year end. Action(s) taken or planned on the finding: The audited financial statements have been submitted to HUD. No further action is required.
View Audit 398397
Finding 1206390 (2024-001)
Material Weakness 2024
Hollywood West Tenant Action Committee
CA
HUD Housing Programs Procurement, Suspension & Debarment Subrecipient Monitoring
Name of auditee: Hollywood West Tenant Action Committee HUD auditee identification number: 122-44641 Name of audit firm: Dauby O'Connor & Zaleski, LLC Period covered by the audit: Year ended June 30, 2024 CAP prepared by Name: Noel Sweitzer Position: President, HDSI Management, Inc. Telephone number...
Name of auditee: Hollywood West Tenant Action Committee HUD auditee identification number: 122-44641 Name of audit firm: Dauby O'Connor & Zaleski, LLC Period covered by the audit: Year ended June 30, 2024 CAP prepared by Name: Noel Sweitzer Position: President, HDSI Management, Inc. Telephone number: (323) 231-1104 Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations Statement of condition 2024-001: During the year ended June 30, 2024, the Corporation did not make the required deposits to the reserve for replacements in the amount of $12,747. Recommendation: Management should request approval from HUD for a transfer from the residual receipt account to the reserve for replacement account in the amount of $8,498 to correct the error. Management should also make the additional deposit of $4,249 or request a suspension of deposits from HUD. Action(s) taken or planned on the finding: Management has requested approval from HUD to transfer the funds to the reserve for replacement account and will make the additional deposit during the year ended June 30, 2025.
View Audit 398397
Finding 1206269 (2024-004)
Material Weakness 2024
Cherrywood Village 094-Ee009-Np-Wah
ND
HUD Housing Programs Material Weakness
2024-004 – Reserve for Replacement Contact Person Terry Hanson Corrective Action Plan Management will request a waiver from HUD to cease deposits to the RFR Account until such time that the account falls below the HUD recommended minimum required deposit, per 4350.1. If waiver is not forthcoming, ma...
2024-004 – Reserve for Replacement Contact Person Terry Hanson Corrective Action Plan Management will request a waiver from HUD to cease deposits to the RFR Account until such time that the account falls below the HUD recommended minimum required deposit, per 4350.1. If waiver is not forthcoming, management will request that owner provide funding to RFR, until such time that the operating account balance reflects a positive balance and the property is able to deposit to RFR. Planned Completion Date for CAP Immediately
View Audit 398304
Finding 1205410 (2024-007)
Material Weakness 2024
City of Dunkirk Housing Authority
NY
HUD Housing Programs
2023-007 Material Weakness: See finding 2024-007. Recommendation: We recommend that management of the Authority work with its newly retained fee accountant to better establish policies and procedures to ensure compliance with the grant requisition processes. Management’s response: The Authority has ...
2023-007 Material Weakness: See finding 2024-007. Recommendation: We recommend that management of the Authority work with its newly retained fee accountant to better establish policies and procedures to ensure compliance with the grant requisition processes. Management’s response: The Authority has had some staff turnover over the past several years. A new executive director and a new account clerk were both hired within the past several years. Management is evaluating its processes and procedures related to grant requisitions and is planning on implementing procedures to ensure grants are requisitioned in the future. Additionally, management plant to work with its newly hired fee accountant in the future to ensure grant funds are properly requisitioned.
View Audit 397084
Finding 1205409 (2024-005)
Material Weakness 2024
City of Dunkirk Housing Authority
NY
HUD Housing Programs Reporting
2023-005 Material Weakness: See finding 2024-005. Recommendation: We recommend that management of the Authority review the deadlines for FDS submission and the financial statement submission and work with the newly retained fee accountant to ensure that these deadlines are met in the future. Managem...
2023-005 Material Weakness: See finding 2024-005. Recommendation: We recommend that management of the Authority review the deadlines for FDS submission and the financial statement submission and work with the newly retained fee accountant to ensure that these deadlines are met in the future. Management’s response: The Authority has had some staff turnover over the past several years. A new executive director and a new account clerk were both hired within the past several years. Management was aware that its submissions were not timely. Management engaged the services of a fee-accountant subsequent to year-end who will assist with these submission going forward. In order to submit and ensure integrity of the unaudited financial statements, the bank accounts reconciliations needed to be completed and account analysis performed. Management will continue to prioritize and remediate outstanding compliance obligations and develop a compliance catch-up plan to ensure timely account reconciliation and account analysis in the future. The fee accountant was not re-engaged to perform bank reconciliations and account analysis for the year ended June 30, 2025 until after June 30, 2025 year end. As a result, management expects this to be a repeat finding in the June 30, 2025 audit.
View Audit 397084
Finding 1205407 (2024-006)
Material Weakness 2024
City of Dunkirk Housing Authority
NY
HUD Housing Programs
2023-006 Significant Deficiency: See finding 2024-006. Recommendation: We recommend that management of the Authority work with its newly retained fee accountant to prepare an operating budget by AMP location. Management’s response: The Authority has had some staff turnover over the past several year...
2023-006 Significant Deficiency: See finding 2024-006. Recommendation: We recommend that management of the Authority work with its newly retained fee accountant to prepare an operating budget by AMP location. Management’s response: The Authority has had some staff turnover over the past several years. A new executive director and a new account clerk were both hired within the past several years. Management was aware that its budget was not prepare by AMP location. Management engaged the services of a fee-accountant subsequent to year-end who will assist with the budgeting process in the future. The fee engaged was just recently re-engaged subsequent to June 30, 2025 year end. Management is aware that general best practice is to have a budget adopted by the board prior to the beginning of each fiscal year, however since the fee accountant was retained after the beginning of the 2025-2026 fiscal year, the 2025-2026 budget will not be prepared and adopted by the board on a timely basis.
View Audit 397084
Finding 1205405 (2024-004)
Material Weakness 2024
City of Dunkirk Housing Authority
NY
HUD Housing Programs
2024-004 Significant Deficiency: See finding 2024-004. Recommendation: We recommend that management of the Authority review its processes for closing out all fully-expended grants with HUD to ensure that, in the future, when grants are fully expended, the close-out process begins shortly thereafter....
2024-004 Significant Deficiency: See finding 2024-004. Recommendation: We recommend that management of the Authority review its processes for closing out all fully-expended grants with HUD to ensure that, in the future, when grants are fully expended, the close-out process begins shortly thereafter. Management’s response: The Authority has had some staff turnover over the past several years. A new executive director and a new account clerk were both hired within the past several years. Management was aware that several older grants were still shown as “open” and that the close-out procedures would have to be implemented at some point. Management is evaluating its processes and procedures related to closing out grants and is planning on implementing procedures to ensure grants are properly closed. Management plans on working with the newly hired fee accountant in the future to assist with the close out of grants that have been fully expended.
View Audit 397084
Finding 1182800 (2024-002)
Material Weakness 2024
Municipality of Comerio
PR
HUD Housing Programs § 200.327 § 200.328
The Municipality of Comerío made a contract with an auditing firm to work on the reports and submission of the FASS-PH financial report compliance for the years in which the reports were not submitted. Furthermore, instructions were given for the HUD Coordinator to monitor the delivery of reports by...
The Municipality of Comerío made a contract with an auditing firm to work on the reports and submission of the FASS-PH financial report compliance for the years in which the reports were not submitted. Furthermore, instructions were given for the HUD Coordinator to monitor the delivery of reports by the contracted auditing firm and to ensure that the contract for this service is finalized.
View Audit 394202
Finding 1181835 (2024-002)
Material Weakness 2024
Jacksonville Housing Authority
TX
Allowable Costs / Cost Principles HUD Housing Programs § 200.302
Establish dual authorization for all disbursements >$500. • Require approval documentation for all payments. • Monthly review of check registers and reconciliations by Board Treasurer or Board President. • Revise Finance Policy Manual to reflect new procedures.
Establish dual authorization for all disbursements >$500. • Require approval documentation for all payments. • Monthly review of check registers and reconciliations by Board Treasurer or Board President. • Revise Finance Policy Manual to reflect new procedures.
View Audit 393101
Finding 1181834 (2024-001)
Material Weakness 2024
Jacksonville Housing Authority
TX
HUD Housing Programs
Implement mandatory supervisory review of all certifications (initial, annual, interim). • Develop Tenant File Quality Control Checklist with signatures. • Recalculate rent/HAP for affected tenants and adjust as needed. • Train staff on HUD income verification and rent calculation standards.
Implement mandatory supervisory review of all certifications (initial, annual, interim). • Develop Tenant File Quality Control Checklist with signatures. • Recalculate rent/HAP for affected tenants and adjust as needed. • Train staff on HUD income verification and rent calculation standards.
View Audit 393101
Finding 1181619 (2024-001)
Material Weakness 2024
Community Services Unlimited, Inc.
CA
HUD Housing Programs Internal Control / Segregation of Duties
Corrective Action: We agree with the finding and will implement recommended procedures immediately. We will continue preparing a roll forward schedule of net assets with donor restriction, and review/approve the schedule with the appropriate authorized individuals prior to presenting to the auditors...
Corrective Action: We agree with the finding and will implement recommended procedures immediately. We will continue preparing a roll forward schedule of net assets with donor restriction, and review/approve the schedule with the appropriate authorized individuals prior to presenting to the auditors at the commencement of the annual audit. Name of Contact Person: Heather Fenney, Co-Executive Director Proposed Completion Date: December 31, 2025.
View Audit 392889
Finding 1180788 (2024-003)
Material Weakness 2024
St. Clare Apartments Housing Development Fund Company, Inc. 014-Ee140
NY
HUD Housing Programs Reporting
Name of auditee: St. Clare Apartments Housing Development Fund Company, Inc. TIN: 16-1524084 Name of audit firm: EFPR Group, CPAs, PLLC Period covered by audit: January 1, 2024 - December 31, 2024 CAP prepared by: John Lutz jlutz@christopher-community.org Current Findings on the Schedule of Findings...
Name of auditee: St. Clare Apartments Housing Development Fund Company, Inc. TIN: 16-1524084 Name of audit firm: EFPR Group, CPAs, PLLC Period covered by audit: January 1, 2024 - December 31, 2024 CAP prepared by: John Lutz jlutz@christopher-community.org Current Findings on the Schedule of Findings and Questioned Costs Finding 2024-003 The Company will work to engage its auditors to perform the December 31, 2025 audit in March of 2026 and complete the audited submission within 90 days after the end of the fiscal year. The current year audited submission will be complete and filed upon completion of this audit.
View Audit 392453
Finding 1180787 (2024-002)
Material Weakness 2024
St. Clare Apartments Housing Development Fund Company, Inc. 014-Ee140
NY
HUD Housing Programs
Name of auditee: St. Clare Apartments Housing Development Fund Company, Inc. TIN: 16-1524084 Name of audit firm: EFPR Group, CPAs, PLLC Period covered by audit: January 1, 2024 - December 31, 2024 CAP prepared by: John Lutz jlutz@christopher-community.org Current Findings on the Schedule of Findings...
Name of auditee: St. Clare Apartments Housing Development Fund Company, Inc. TIN: 16-1524084 Name of audit firm: EFPR Group, CPAs, PLLC Period covered by audit: January 1, 2024 - December 31, 2024 CAP prepared by: John Lutz jlutz@christopher-community.org Current Findings on the Schedule of Findings and Questioned Costs Finding 2024-002 Management understands HUD’s reserve for replacements required deposit requirements and will deposit the $58,800 as soon as cash flow allows.
View Audit 392453
Finding 1180670 (2024-007)
Material Weakness 2024
Mount Sinai Foundation, Incorporated 053-36322
NC
HUD Housing Programs
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN February 10, 2026 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully sub...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN February 10, 2026 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, 2024. 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, 2024 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 2024-007 - 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 ensures the tenant security deposit bank account equals the tenant deposit liability at all times. Action Taken: We agree with Finding 2024-007 and the recommendation described in the accompanying schedule of findings and questioned costs. The tenant security deposit account was funded in full by Remnant Management Inc. on October 1, 2024. The account balance equals the total tenant security deposit liability in accordance with Uniform Guidance and HUD requirements. Sincerely yours, Shannon Pow President Remnant Management, Inc. Managing Agent effective October 1, 2024
View Audit 392336
Finding 1180669 (2024-006)
Material Weakness 2024
Mount Sinai Foundation, Incorporated 053-36322
NC
HUD Housing Programs
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN February 10, 2026 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully sub...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN February 10, 2026 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, 2024 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, 2024 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 2024-006 - 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 2024-006 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 392336
Finding 1180668 (2024-005)
Material Weakness 2024
Mount Sinai Foundation, Incorporated 053-36322
NC
HUD Housing Programs
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN February 10, 2026 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully sub...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN February 10, 2026 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, 2024. 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, 2024 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 2024-005 - 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 2024-005 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 392336
Finding 1180667 (2024-004)
Material Weakness 2024
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 February 10, 2026 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully sub...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN February 10, 2026 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, 2024. 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, 2024 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 2024-004 - 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 2024-004 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 392336
Finding 1180666 (2024-003)
Material Weakness 2024
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 February 10, 2026 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully sub...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN February 10, 2026 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, 2024. 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, 2024 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 2024-003 - 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 2024-003 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, 2024. Sincerely yours, Shannon Pow President Remnant Management, Inc. Managing Agent effective October 1, 2024
View Audit 392336
Finding 1180665 (2024-002)
Material Weakness 2024
Mount Sinai Foundation, Incorporated 053-36322
NC
HUD Housing Programs
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN February 10, 2026 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 Mount Sinai Foundation, Incorporated respectfully sub...
Mount Sinai Foundation, Incorporated 703 Blue Street Fayetteville, North Carolina 28301 CORRECTIVE ACTION PLAN February 10, 2026 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, 2024. 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, 2024 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 2024-002 - 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 2024-002 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 392336
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