FAC Explorer

Finding 1153699 (2022-003)

Material Weakness Repeat Finding
Requirement
E
Questioned Costs
$1
Year
2022
Accepted
2025-09-21
Audit: 366836
Organization: Vermont Seniors (CA)
Auditor: Cohnreznick LLP

AI Summary

  • Core Issue: As of December 31, 2022, the reserve for replacements account is short by $610,030 due to missed deposits.
  • Trend: This indicates a potential ongoing issue with funding reserves, which could affect future maintenance and replacement plans.
  • Recommended Follow-Up: Review the deposit process and implement measures to ensure timely contributions to the reserve account.

Finding Text

Condition/Context At December 31, 2022, deposits to the reserve for replacements account in a cumulative amount of $610,030 have not been made.

Corrective Action Plan

Management should work with HUD to come to a resolution to this matter.

Categories

Questioned Costs

Other Findings in this Audit

  • 1153690 2022-001
    Material Weakness Repeat
  • 1153691 2022-002
    Material Weakness Repeat
  • 1153692 2022-003
    Material Weakness Repeat
  • 1153693 2022-004
    Material Weakness Repeat
  • 1153694 2022-001
    Material Weakness Repeat
  • 1153695 2022-002
    Material Weakness Repeat
  • 1153696 2022-003
    Material Weakness Repeat
  • 1153697 2022-004
    Material Weakness Repeat
  • 1153698 2022-002
    Material Weakness Repeat
  • 1153700 2022-004
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.239 Home Investment Partnerships Program $10.96M
14.157 Supportive Housing for the Elderly $591,830