Finding Text
S3800-010 Finding Reference Number 2024-1 S3800-015 Type of Finding Federal Award Finding S3800-020 Criteria Compliance with the Regulatory Agreement stipulates that a tax and insurance escrow account be maintained and fully funded S3800-030 Statement of Condition The Organization did not fully fund the tax and insurance escrow account S3800-035 Auditor Non-Compliance Code Z. Other S3800-037 FHA/Contract Number 046-EE020 S3800-038 Questioned Costs $ 9,208 S3800-050 Context The Organization did not have enough liquid funds to make the monthly tax and insurance escrow deposits. S3800-060 Effect Not making required deposits could result in insufficient funds to cover tax and insurance payments. S3800-070 Cause The Organization did not have enough liquid funds to make the monthly tax and insurance escrow deposits. S3800-080 Recommendation The Organization should deposit $9,208 into the tax and insurance escrow account.