Finding 1130816 (2024-001)

Requirement

Questioned Costs

Year

2024

Accepted

2025-04-08

Audit: 352998

Organization: Lake Como Church of Christ Community of Hope, Inc. (TX)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $135.
Trend: This deficiency indicates a potential ongoing issue with funding adequacy.
List: Review deposit schedules, adjust future contributions, and monitor compliance closely.

REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $135

ALN	Program Name	Expenditures
14.155	Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects	$1.92M
14.195	Section 8 Housing Assistance Payments Program	$292,427