HOUSING OPPORTUNITIES, INC. P.O. Box 10248 Greensboro, North Carolina 27404 CORRECTIVE ACTION PLAN Single Audit Clearinghouse 1201 East 10th Street Jeffersonville, Indiana 47132 Housing Opportunities, Inc. (the "Organization"), respectfully submits the following Corrective Action Plan for the year ended December 31, 2022. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Greensboro, North Carolina 27410 Audit period: Year ended December 31, 2022 The finding from the December 31, 2022 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings and Questioned Costs: Finding 2022-001: Section III - Findings and questioned costs relating to the major programs which are required to be reported as defined by the Uniform Guidance [2 CFR 200.516(a)] Recommendation: The Organization should continuously monitor cash balances to ensure that funds are always covered by FDIC insurance limits, collateral agreements are obtained, or funds are invested in government securities. Management's Response: Management agrees with the above finding and is in the process of transferring funds to provide adequate FDIC coverage for all funds. Management will re-evaluate its policies and procedures to determine any necessary changes. If you have questions regarding this plan, please call Terri Gunn at 336-691-9804. Sincerely yours, Terri Gunn Vice-President and Secretary