Finding 1078890 (2024-001)

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-10

Audit: 324466

Organization: Montrose Voa Elderly Housing Iii, INC (cimarron Village) (VA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: The replacement reserve is short by $55,000.
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 $55,000.

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$4.39M
14.218	Community Development Block Grants/entitlement Grants	$571,696