Answer: Monthly deposits to the replacement reserve were not made after management changed.
Trend: Only $3,850 was deposited in the year before the management change, indicating a decline in compliance.
List: Follow up on the missed $4,820 deposits and establish a plan to ensure future compliance with deposit requirements.
Finding Text
Monthly deposits totaling $4,820 should have been made to the replacement reserve during 2024. After the change in management, deposits were not made. Only $3,850 of deposits were made during the year prior to the change in management.