Finding 1079467 (2024-001)

- Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-16

Audit: 324996

Organization: Houston Voa Elderly Housing, INC (lakeview Place) (VA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $862.
Trend: This deficiency indicates a potential ongoing issue with funding adequacy.
List: Review deposit schedules, adjust future contributions, and monitor compliance regularly.

REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $862.

ALN	Program Name	Expenditures
14.155	Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects	$3.49M
14.195	Section 8 Housing Assistance Payments Program	$646,748