Answer: The project did not deposit surplus cash into the required account within the 90-day timeframe.
Trend: This delay could indicate ongoing issues with compliance and financial management practices.
List: Follow up by reviewing the project's cash management processes and ensuring timely deposits moving forward.
Finding Text
The regulatory agreement requires the project to deposit "surplus cash" into a residual receipts account within 90 days after the end of the fiscal year.
Corrective Action Plan
Management agrees with the finding. The residual receipts account deficiency was funded on November 4, 22022 in the amount of $3,221. Management will ensure that the residual receipts account is properly funded in the future.