Finding 1078885 (2024-001)

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-10

Audit: 324461

Organization: Durango Voa Elderly Housing, Inc. (cedar View Ii) (LA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: The replacement reserve is short by $60,000.
Trend: This indicates a potential ongoing issue with funding for future replacements.
List: Review funding strategies and consider increasing contributions to the reserve.

The replacement reserve is deficient in the amount of $60,000.

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$3.75M
14.218	Community Development Block Grants/entitlement Grants	$256,768