Finding 1131562 (2024-001)

Requirement

Questioned Costs

Year

2024

Accepted

2025-04-15

Audit: 353724

Organization: Disciples Homes of Northeast Texas, Inc. (the Chalice Apts) (TX)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $1,042.
Trend: This deficiency indicates a consistent issue with funding the reserve.
List: Recommend reviewing deposit processes and adjusting future contributions to meet requirements.

Required monthly deposits to the replacement reserve are deficient in the amount of $1,042.

ALN	Program Name	Expenditures
14.155	Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects	$889,282
14.195	Section 8 Housing Assistance Payments Program	$259,626