Finding Text
Condition: The required June 30, 2024 residual receipts deposit was deficient by $33,615. Criteria: HUD compliance requires prior year surplus cash to be deposited into the residual receipts account. Effect: Violation of HUD compliance rules for the residual receipts account. Cause: Management did deposit the June 30, 2024 surplus cash of $33,615 into the residual receipts account Recommendation: Deposit the $33,615 June 30, 2024 surplus cash into residual receipts Views of Responsible Officials and Planned Corrective Actions: Management will make the deficient deposit amount as soon as possible.