Finding 1079466 (2024-001)

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-16

Audit: 324990

Organization: Gibbstown Voa Elderly Housing, Inc. (homestead at Harmony) (LA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $3,400.
Trend: This deficiency indicates a potential ongoing issue with funding the reserve.
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 $3,400.

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$5.41M