Finding 1078348 (2024-001)

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-07

Audit: 324063

Organization: Iowa Elderly Housing Corporation (LA)

Auditor: Maddox & Associates Apc

AI Summary

Issue: The security deposit account is lacking sufficient funds.
Trend: This underfunding could lead to compliance risks and financial instability.
Follow-up: Review funding procedures and ensure the account is brought up to the required level.

THE SECURITY DEPOSIT ACCOUNT IS NOT FULLY FUNDED.

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$1.29M