Answer: Monthly deposits to the replacement reserve are short by $2,700.
Trend: This deficiency indicates a potential ongoing issue with funding the reserve.
List: Recommend reviewing deposit schedules and adjusting contributions to meet required amounts.
Finding Text
Required monthly deposits to the replacement reserve are deficient in the amount of $2,700.
Corrective Action Plan
Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $2,700. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.