Finding 1131965 (2024-001)

- Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2025-04-21

Audit: 354044

Organization: Cmc Retirement Village, Inc. (MO)

Auditor: Maddox & Associates Apc

AI Summary

Issue: The security deposit account is lacking sufficient funds.
Trend: This underfunding could lead to compliance risks and financial instability.
Follow-up: Review funding procedures and ensure the account is brought up to the required level.

THE SECURITY DEPOSIT ACCOUNT IS NOT FULLY FUNDED.

ALN	Program Name	Expenditures
14.135	Mortgage Insurance_rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate	$4.80M
14.157	Supportive Housing for the Elderly	$1.10M
14.195	Section 8 Housing Assistance Payments Program	$545,411