Finding 1080414 (2024-001)

- Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-28

Audit: 326266

Organization: Charleston Voa Elderly Housing, INC (st. James Place) (VA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $97,842.
Trend: This deficiency indicates a consistent issue with funding the reserve.
List: Recommend reviewing funding processes and adjusting future deposit schedules to meet requirements.

Required monthly deposits to the replacement reserve are deficient in the amount of $97,842.

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$3.52M