Finding 1096664 (2024-001)

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Requirement
N
Questioned Costs
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Year
2024
Accepted
2025-01-24
Audit: 339779
Organization: Wesley Homes, Inc. (GA)

AI Summary

  • Answer: The cash balance for security deposits was not enough to cover the total liability at year-end.
  • Trend: This indicates a potential ongoing issue with cash management for security deposits.
  • List: Recommend reviewing cash reserves and adjusting deposit policies to ensure full coverage in the future.

Finding Text

During our testing procedures of the security deposit liability, it was noted that the security deposit cash balance was insufficient to fully cover the security deposit liability at year end.

Categories

No categories assigned yet.

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.134 Mortgage Insurance Rental Housing $3.01M
14.195 Project-Based Rental Assistance (pbra) $1.71M