Finding 1100411 (2024-003)

- Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2025-02-20

Audit: 343175

Organization: Orlando Voa Elderly Housing, Inc. (silver Lakes Village Apts) (LA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $40,097.
Trend: This deficiency indicates a pattern of underfunding that could impact future maintenance and repairs.
List: Follow up by reviewing funding strategies and adjusting future deposit plans to meet required amounts.

REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $40,097.

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$7.65M
14.318	Assisted Housing Stability and Energy and Green Retrofit Investments Program (recovery Act Funded)	$1.24M