Finding 1078350 (2024-001)

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-07

Audit: 324065

Organization: Nelda Place Apartments, Inc. (LA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $411.
Trend: This deficiency indicates a potential ongoing issue with funding levels.
List: Recommend reviewing deposit schedules and adjusting future contributions to meet requirements.

REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $411.

ALN	Program Name	Expenditures
14.181	Supportive Housing for Persons with Disabilities	$1.38M