Federal Audit History
Single audits filed with the Federal Audit Clearinghouse$9.9M in federal awards expended in FY2026
| Year | Federal $ expended | Auditor | Opinion | Flags |
|---|
| 2026 | $9.9M | Davis, Ray & Co., PC | Unmodified (clean) | Low-risk auditee |
| 2025 | $10.2M | Davis, Ray & Co., PC | Unmodified (clean) | Low-risk auditee |
| 2024 | $10.5M | Davis, Ray & Co., PC | Unmodified (clean) | Low-risk auditee |
Federal Programs
Top programs · FY2026| Program | Agency | Expended | Major program | Findings |
|---|
| Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects | HUD | $9.9M | Yes | 2 |
Audit Findings
FY2026 · auditor's own text2026-001Activities allowedQuestioned costs
Project owner made unauthorized advances to related parties
2026-002Cash management
The required cash account for security deposits does not equal or exceed the liability account
Source: Federal Audit Clearinghouse single audits (required of organizations expending $1,000,000+ in federal awards per year for fiscal years beginning on or after Oct 1, 2024; $750,000 before).