FAC Explorer

Finding 1162782 (2024-001)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2024
Accepted
2025-11-20
Audit: 372406
Organization: Longfellow Non-Profit Housing, Inc. 023-Ee-078 (MA)
Auditor: COHNREZNICK LLP

AI Summary

  • Answer: The project missed a required deposit of $3,566 to the replacement reserve for December 2024.
  • Trend: This indicates a potential pattern of non-compliance with monthly deposit requirements.
  • List: Follow up by ensuring future deposits are made on time and review the project's financial management practices.

Finding Text

During the year ended December 31, 2024, the project did not make the required December monthly deposit to the replacement reserve in the amount of $3,566. The project is required to make monthly deposits to the reserve in the amount of $3,566.

Corrective Action Plan

Corporation agrees with the finding and the auditor's recommendations have been adopted.

Categories

No categories assigned yet.

Programs in Audit

ALN Program Name Expenditures
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $4.22M