Finding Text
Finding reference number: #2025-001 Assistance Listing (federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (Project identification number 047-11056, 2007) Auditor non-compliance code: Z – Other Finding resolution status: Cleared Universe population size: The universe population size is not applicable to the finding. Statistically valid sample: Not applicable Name of federal agency: Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $-0- Was the sampling statistically valid: N/A Statement of condition of #2025-001: For the year ended December 31, 2024, the Corporation did not submit the Data Collection Form to the Federal Audit Clearinghouse in the time period required by Uniform Guidance. Criteria: Pursuant to the Uniform Guidance, the Corporation is required to submit the Data Collection Form to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditor's report or 9 months after the entity's fiscal year end. Effect or potential effect: The Corporation is not in compliance with the Uniform Guidance Section 200.512. Cause: Due to administrative delays, the 2024 audit report was not issued until December 18, 2025. Recommendation: The Corporation should submit the Data Collection Form to the Federal Audit Clearinghouse within the required time period. Reporting response: Management concurs. The 2024 Data Collection Form could not be filed by the September 30, 2025 due date because the 2024 audited financial statements were not issued until December 18, 2025. The Form was submitted to the Federal Audit Clearinghouse on September 18, 2026. Responsible contact: Holly Sweis, Intrepid Professional Group, on behalf of the Board of Directors.