Finding 1080412 (2024-001)

- Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-28

Audit: 326259

Organization: Louisville Voa Elderly Housing, Inc. (south Oaks Senior Housing) (LA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $2,620.
Trend: This deficiency indicates a pattern of underfunding that could impact future reserve availability.
List: Follow up by reviewing funding strategies and adjusting future deposit amounts to meet requirements.

Required monthly deposits to the replacement reserve are deficient in the amount of $2,620.

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$3.53M