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Corrective Action Plans

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Finding 1181340 (2024-006)
Material Weakness 2024
Neighborhood Defender Service, Inc.
NY
Allowable Costs / Cost Principles § 200.403
NDS will implement a time study process to determine the appropriate allocation of staff time to federally funded programs due to limitations in the payroll system. This will replace the prior flat-rate allocation method and ensure salary charges to federal grants are supported by documented time an...
NDS will implement a time study process to determine the appropriate allocation of staff time to federally funded programs due to limitations in the payroll system. This will replace the prior flat-rate allocation method and ensure salary charges to federal grants are supported by documented time and actual work performed, consistent with Uniform Guidance requirements. Human Resources will maintain documentation of approved pay rates for audit and compliance purposes Management expects to have this implemented by April 30, 2026. The process is being monitored by Anthonia Ibe, Chief Financial Officer.
View Audit 392557
Finding 1181307 (2024-001)
Material Weakness 2024
FosterHub
OH
Procurement, Suspension & Debarment Subrecipient Monitoring § 200.213
2024-001 – The Organization did not have a process to determine if vendors were suspended or debarred from receiving federal funds Auditor’s Recommendation: It is recommended that FosterHub develop and implement a suspension and debarment procedure to review the eligibility of vendors before enterin...
2024-001 – The Organization did not have a process to determine if vendors were suspended or debarred from receiving federal funds Auditor’s Recommendation: It is recommended that FosterHub develop and implement a suspension and debarment procedure to review the eligibility of vendors before entering into contracts. Training should be provided to all relevant staff to ensure awareness and compliance with federal requirements. Additionally, periodic monitoring and internal audits should be conducted to ensure adherence to the established procedures. Views of Responsible Officials and Planned Corrective Actions: Management acknowledges the finding and agrees with the recommendation. FosterHub will develop and implement a formal suspension and debarment procedure within the next three months. Training sessions will be conducted for all procurement staff to ensure understanding and compliance with the new procedure. Furthermore, periodic reviews will be instituted to monitor adherence to these requirements and to prevent the recurrence of this issue.
View Audit 392535
Finding 1180867 (2024-007)
Material Weakness 2024
City of South Gate
CA
Reporting § 200.327
Management agrees with the finding. In 2023, shortly after management was made aware procedures were put into place to properly oversee the timely submission of the SF-425 financial reports.
Management agrees with the finding. In 2023, shortly after management was made aware procedures were put into place to properly oversee the timely submission of the SF-425 financial reports.
View Audit 392505
Finding 1180866 (2024-006)
Material Weakness 2024
City of South Gate
CA
Allowable Costs / Cost Principles Internal Control / Segregation of Duties § 200.430
Management acknowledges the importance of ensuring that payroll costs charged to the program are consistent between the payroll system and the employee’s timesheet. The City continues to monitor its internal control process to ensure thorough review procedures are being followed. Timesheets are revi...
Management acknowledges the importance of ensuring that payroll costs charged to the program are consistent between the payroll system and the employee’s timesheet. The City continues to monitor its internal control process to ensure thorough review procedures are being followed. Timesheets are reviewed, bi-weekly, by payroll and adjusted to reflect actual hours as they relate to a specific activity. The City was able to hire a permanent accountant hiring who will provide additional oversight of these processes ensuring that hours worked are both reported correctly on the timesheets and are following the funding allocations that are approved by the grant.
View Audit 392505
Finding 1180864 (2024-005)
Material Weakness 2024
City of South Gate
CA
Allowable Costs / Cost Principles § 200.430
Management acknowledges the importance of ensuring that payroll costs charged to the program are consistent between the payroll system and the employee’s timesheet. The City continues to monitor its internal control process to ensure thorough review procedures are being followed. Timesheets are revi...
Management acknowledges the importance of ensuring that payroll costs charged to the program are consistent between the payroll system and the employee’s timesheet. The City continues to monitor its internal control process to ensure thorough review procedures are being followed. Timesheets are reviewed, bi-weekly, by payroll and adjusted to reflect actual hours as they relate to a specific activity. The City was able to hire a permanent accountant hiring who will provide additional oversight of these processes ensuring that hours worked are both reported correctly on the timesheets and are following the funding allocations that are approved by the grant.
View Audit 392505
Finding 1180833 (2024-004)
Material Weakness 2024
Maine School Administrative District No. 75
ME
Allowable Costs / Cost Principles § 200.302 § 200.403
Finding 2024-004 Internal control weakness over activities allowed/allowable costs Name of responsible official: Evan Howard – Business Manager Corrective action: With stabilized staffing in place, management is currently updating the District’s federal funds procurement and compliance policies to a...
Finding 2024-004 Internal control weakness over activities allowed/allowable costs Name of responsible official: Evan Howard – Business Manager Corrective action: With stabilized staffing in place, management is currently updating the District’s federal funds procurement and compliance policies to address Uniform Guidance requirements related to allowable and unallowable costs. In conjunction with this effort, management will design and implement internal control procedures to ensure that expenditures charged to grants are reviewed for allowability prior to payment. These procedures will include documented review and approval processes, supervisory oversight, and periodic monitoring to ensure ongoing compliance. Anticipated completion date: June 30,2026
View Audit 392493
Finding 1180830 (2024-003)
Material Weakness 2024
Maine School Administrative District No. 75
ME
Allowable Costs / Cost Principles Procurement, Suspension & Debarment § 200.302 § 200.317 § 200.318 § 200.327 § 200.430
Finding 2024-003 Material Weakness in Internal Control over Compliance Name of responsible official: Evan Howard – Business Manager Corrective action: The municipality is in the process of reviewing roles, responsibilities, and job descriptions to ensure appropriate segregation of duties and proper ...
Finding 2024-003 Material Weakness in Internal Control over Compliance Name of responsible official: Evan Howard – Business Manager Corrective action: The municipality is in the process of reviewing roles, responsibilities, and job descriptions to ensure appropriate segregation of duties and proper internal controls, in accordance with the Corrective Action Plan. The plan has not yet been formally adopted. Anticipated completion date: June 30,2026
View Audit 392493
Finding 1180824 (2024-003)
Material Weakness 2024
Porchlight, Inc.
WI
Procurement, Suspension & Debarment Material Weakness Period of Performance
Management agrees with the finding and has implemented corrective actions to improve documentation, grant tracking, and compliance processes. Grant transactions are now recorded and tracked within Sage Intacct using appropriate invoice dates and general ledger posting dates to ensure that expenses a...
Management agrees with the finding and has implemented corrective actions to improve documentation, grant tracking, and compliance processes. Grant transactions are now recorded and tracked within Sage Intacct using appropriate invoice dates and general ledger posting dates to ensure that expenses are recorded within the correct period of performance for each grant. Sage Intacct provides detailed grant reporting capabilities, allowing the organization to generate transaction‐level reports for individual grants. Documentation procedures have also been strengthened. Supporting documentation for expense transactions is attached directly to transactions within Sage Intacct and is also stored in organized files on Porchlight’s internal server to ensure documentation is readily available for review and audit purposes. Procurement approvals and related documentation are retained within Sage Intacct on a transactional level, archived email records, and internal file storage, ensuring that approvals are documented and accessible. The Financial Director is currently responsible for preparing and submitting grant performance reports. Porchlight is also in the process of recruiting a staff Grants Manager to further strengthen grant management, monitoring, and reporting responsibilities. Porchlight maintains a grant reporting calendar and tracking system, which is maintained electronically on the organization's internal server to ensure that all reporting deadlines are monitored and met. Grant documentation is now maintained in centralized and organized compliance files on the internal server, allowing staff and auditors to easily access grant documentation and supporting records. Management will continue to monitor grant compliance processes and documentation procedures to ensure ongoing compliance with funding requirements and reporting obligations. Person(s) Responsible: Halle Pollay Timing for Implementation: In process
View Audit 392484
Finding 1180823 (2024-002)
Material Weakness 2024
Porchlight, Inc.
WI
Reporting Significant Deficiency Matching / Level of Effort / Earmarking
Management agrees with the finding and has taken corrective action to ensure the timely completion and submission of the audit reporting package. With the implementation of Sage Intacct and the strengthening of internal accounting processes, Porchlight is now able to begin audit preparation earlier ...
Management agrees with the finding and has taken corrective action to ensure the timely completion and submission of the audit reporting package. With the implementation of Sage Intacct and the strengthening of internal accounting processes, Porchlight is now able to begin audit preparation earlier in the year. Regular monthly reconciliations and improved staff training have significantly reduced the number of adjustments required at year‐end. Financial statements will be prepared internally prior to the audit process, allowing management to review financial information earlier and provide complete information to the auditors in a timely manner. While certain reporting configurations within Sage Intacct continue to be refined, Porchlight is working with outside consultants experienced with the system to ensure reporting functionality operates effectively. Porchlight is also developing a formal year‐end close checklist and reporting calendar to ensure that all financial reporting tasks are completed on schedule and that audit preparation begins sufficiently in advance of reporting deadlines. The Finance Director, with oversight from the Executive Director, is responsible for monitoring audit timelines and, along with our auditors, ensure all deadlines for submission to the Federal Audit Clearinghouse are met. Staffing improvements and the engagement of external consultants have strengthened the organization’s capacity to complete the audit process in a timely manner. Management will continue to monitor internal timelines and reporting procedures to ensure future audit submissions are completed within required deadlines. Person(s) Responsible: Halle Pollay Timing for Implementation: In process
View Audit 392484
Finding 1180822 (2024-001)
Material Weakness 2024
Porchlight, Inc.
WI
Reporting Procurement, Suspension & Debarment Material Weakness
Management agrees with the finding and has implemented several corrective actions to strengthen internal controls and financial reporting processes. Porchlight implemented new accounting software in 2025, Sage Intacct, which includes a grants dimension that allows the organization to track financial...
Management agrees with the finding and has implemented several corrective actions to strengthen internal controls and financial reporting processes. Porchlight implemented new accounting software in 2025, Sage Intacct, which includes a grants dimension that allows the organization to track financial activity by individual grant and sub‐grant at the transaction level. This system enables the preparation of detailed grant‐level financial reports, including profit and loss statements for individual grants. Internal accounting working papers further document detailed line‐item tracking instructions of grant revenues and expenditures. These processes provide improved transparency and audit support for grant expenditures. Indirect costs are now allocated using a nights‐of‐shelter allocation methodology, which is consistent with guidance provided by Porchlight’s government partner organizations. This methodology has been documented and is applied consistently across applicable programs. Monthly reconciliations of significant general ledger accounts are now performed and documented on a regular basis. These reconciliations are reviewed by the Executive Director, who is currently completing additional training in our new accounting processes to further support this oversight function. Management will continue monitoring the reconciliation process to ensure it is completed in a timely and consistent manner. Journal entries will be reviewed on a monthly basis during scheduled meetings between the Executive Director and the Finance Director to ensure proper documentation and approval. Cash disbursement controls have also been strengthened. Accounts Payable staff prepare a weekly payment list, which is reviewed and approved by the Finance Director. The Executive Director then performs a secondary review and signs checks or approves payments. ACH transactions are submitted to the bank by the AP accountant, and require final authorization through the bank’s online system by either the Executive Director, or the Finance Director when the Executive Director is unavailable. These procedures provide documented authorization of cash disbursements. Consistent financial reporting to the Board is in the final processes. The reporting component of the Sage Intacct implementation has required additional refinement, and we are working with outside consultants who are familiar with our specific system setup to ensure reporting processes operate effectively. Financial reports will be presented to the Board of Directors Finance Committee, which meets with the Executive Director and Finance Director every two months to review financial performance and discuss financial results. Financial statements will be prepared internally prior to the audit, which improves management oversight and reduces the need for audit adjustments. Additionally, Porchlight has significantly strengthened its finance department staffing. A new Finance Director began full‐time employment in June 2024. New Accounts Payable and Accounts Receivable accountants, as well as accounting assistants, have been hired and trained on Porchlight’s financial procedures and Sage Intacct. External accounting consultants have also been engaged to assist with audit preparation, reconciliations, and other accounting functions when additional capacity is needed. Management will continue to evaluate internal controls and financial reporting processes to ensure compliance with applicable financial reporting and grant requirements. Person(s) Responsible: Halle Pollay Timing for Implementation: In Process
View Audit 392484
Finding 1180789 (2024-004)
Material Weakness 2024
St. Clare Apartments Housing Development Fund Company, Inc. 014-Ee140
NY
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 2024-004 The Company will work to engage its auditors to perform the December 31, 2025 audit in March of 2026 and complete the data collection form to the Federal Clearinghouse by the required due date. The current year data collection form will be completed and filed upon completion of this audit.
View Audit 392453
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 1180743 (2024-003)
Material Weakness 2024
Trinity Public Utilities District
CA
Special Tests & Provisions Reporting Internal Control / Segregation of Duties
Strengthen GL coding controls for disaster-related activity; • Implement a secondary review over expenditure coding; • Periodically reconcile disaster expenditures across all GL accounts to ensure completeness and proper classification in the FE MA-designated tracking account.
Strengthen GL coding controls for disaster-related activity; • Implement a secondary review over expenditure coding; • Periodically reconcile disaster expenditures across all GL accounts to ensure completeness and proper classification in the FE MA-designated tracking account.
View Audit 392418
Finding 1180742 (2024-002)
Material Weakness 2024
Trinity Public Utilities District
CA
Internal Control / Segregation of Duties
Implement and document a timekeeping record-retention control that: * Reconciles payroll charges to system time entries for each day prior to reimbursement; * Flags missing daily time records for corrective action before costs are submitted; and * Requires a secondary review to verify documentation ...
Implement and document a timekeeping record-retention control that: * Reconciles payroll charges to system time entries for each day prior to reimbursement; * Flags missing daily time records for corrective action before costs are submitted; and * Requires a secondary review to verify documentation supports the period of performance for each charge.
View Audit 392418
Finding 1180741 (2024-001)
Material Weakness 2024
Trinity Public Utilities District
CA
Reporting
Management will implement effective controls to identify federal grant moneys and ensure timely reporting.
Management will implement effective controls to identify federal grant moneys and ensure timely reporting.
View Audit 392418
Finding 1180718 (2024-004)
Material Weakness 2024
Children's Place Association
IL
Special Tests & Provisions
Management acknowledge the auditors findings and is working with the Start Early Policy Council to incorporate the required oversight activities into the meetings.
Management acknowledge the auditors findings and is working with the Start Early Policy Council to incorporate the required oversight activities into the meetings.
View Audit 392373
Finding 1180717 (2024-003)
Material Weakness 2024
Children's Place Association
IL
Allowable Costs / Cost Principles
Management recognizes that the payroll software transition and the absence of formally documented procedures governing payroll data preservation and time-and-effort reporting resulted in gaps in compliance. Specifically, legacy payroll and timesheet data were not fully preserved prior to system migr...
Management recognizes that the payroll software transition and the absence of formally documented procedures governing payroll data preservation and time-and-effort reporting resulted in gaps in compliance. Specifically, legacy payroll and timesheet data were not fully preserved prior to system migration, and payroll allocations were, for a period, based on budgeted estimates rather than actual time worked. Management started implementing corrective actions to address both the immediate documentation gaps and the underlying internal control weaknesses. 1. Time-and-Effort Documentation System CPA transitioned to a new standardized payroll and time-reporting system in early 2024, which requires all employees whose compensation is charged in whole or in part to federal awards to document actual time worked, as follows: o Currently employees record time by department and program activity. o In December 2025, management is configuring the payroll system to allow employee time allocations down to the individual contract level. o Time reporting will be based on actual hours worked, not budgeted or estimated percentages and replace prior budget-based allocation methodologies. o Timesheets are reviewed and approved by supervisors on a bi-weekly basis and are maintained as part of CPA’s official payroll and accounting records. Management will establish guidelines and document formal procedures to ensure full data preservation prior to any future system migrations, including payroll, HR, or financial systems. These procedures include: o A mandatory pre-migration data inventory and archival checklist, approved by Finance and IT leadership o Secure retention of legacy payroll, timesheet, and personnel records in accordance with CPA’s record-retention policy o Verification testing to confirm data completeness and accessibility before decommissioning any legacy system o Written approval by the Chief Financial Officer prior to system cutover
View Audit 392373
Finding 1180716 (2024-002)
Material Weakness 2024
Children's Place Association
IL
Reporting
To address this finding and prevent future delays, CPA has implemented the following corrective actions: 1. Centralized Grant Reporting & Billing Tracker CPA has developed and implemented a centralized Master Grant Reporting and Billing Tracker to monitor all grant-related submissions. The tracker c...
To address this finding and prevent future delays, CPA has implemented the following corrective actions: 1. Centralized Grant Reporting & Billing Tracker CPA has developed and implemented a centralized Master Grant Reporting and Billing Tracker to monitor all grant-related submissions. The tracker captures, at a minimum: o Required financial, programmatic, and performance reports o Grantor and pass-through entity reporting requirements o Reporting frequency (monthly, quarterly, and annual) o Internal preparation and review deadlines o Final grantor submission due dates 2. Defined Roles and Accountability The Finance Department is responsible for maintaining the tracker and monitoring compliance with all reporting deadlines. Program Leadership is responsible for providing timely programmatic and supporting documentation to Finance in accordance with established internal deadlines. 3. Ongoing Monitoring and Oversight The Master Grant Reporting and Billing Tracker is reviewed on a regular basis by Finance and shared with Program Leadership and Executive Management to ensure visibility, accountability, and timely escalation of potential delays. 4. Preventive Controls Internal deadlines have been established in advance of external due dates to allow adequate time for review, reconciliation, and approval prior to submission. These corrective actions strengthen CPA’s internal controls over grant reporting and billing, will improve coordination between Finance and Program teams, and are expected to ensure timely submission of all required reports and billings going forward.
View Audit 392373
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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