Finding 11156 (2023-001)

Requirement

Questioned Costs

Year

2023

Accepted

2024-01-31

Audit: 14937

Organization: Taylor Voa Elderly Housing INC (heritage Park Senior Village) (LA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $540.
Trend: This deficiency indicates a potential ongoing issue with funding the reserve.
List: Recommend reviewing deposit schedules and adjusting future contributions to meet requirements.

Required monthly deposits to the replacement reserve are deficient in the amount of $540.

Management agrees with the finding. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$11.02M
21.011	Capital Magnet Fund	$500,000