Finding 1054396 (2023-001)

Requirement

Questioned Costs

Year

2023

Accepted

2024-07-09

Audit: 314649

Organization: Fifteenth Avenue Baptist Village Manor, Inc. (TN)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $1,389.
Trend: This deficiency indicates a pattern of underfunding that could impact future financial stability.
List: Follow up by reviewing deposit schedules and adjusting future contributions to meet required amounts.

REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $1,389.

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$2.47M