Finding 1078010 (2024-001)

- Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-02

Audit: 323620

Organization: El Redentor Apartments Ii, Inc. (el Redentor Apts, Ii) (LA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $18,000.
Trend: This deficiency indicates a consistent issue with funding the reserve.
List: Recommend reviewing funding processes and adjusting future deposits to meet requirements.

Required monthly deposits to the replacment reserve are deficient in the amount of $18,000.

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$2.03M