Answer: Monthly deposits to the replacement reserve are short by $99,168.
Trend: This deficiency indicates a consistent issue with funding for debt service savings.
List: Follow up by reviewing deposit schedules and ensuring compliance with funding requirements.
Finding Text
Required monthly deposits to the replacement reserve for debt service savings are deficient in the amount of $99,168.
Corrective Action Plan
Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $99,168. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.