Answer: Monthly deposits to the replacement reserve are short by $120.
Trend: This deficiency indicates a potential ongoing issue with funding levels.
List: Recommend reviewing deposit schedules and adjusting contributions to meet requirements.
Finding Text
Required monthly deposits to the replacement reserve are deficient in the amount of $120.
Corrective Action Plan
Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $120. Management will ensure that the replacement reserve deposits are made in a timely basis in the future.