Finding 1079464 (2024-001)

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-16

Audit: 324971

Organization: Fredericksburg Voa Elderly Housing, INC (evergreen Villa) (VA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: The security deposit account lacks sufficient funds.
Trend: This issue may lead to compliance risks and potential financial penalties.
List: Review funding requirements, assess current balance, and ensure timely deposits moving forward.

The security deposit account is not fully funded.

ALN	Program Name	Expenditures
14.155	Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects	$1.18M
14.195	Section 8 Housing Assistance Payments Program	$210,253