Finding 1165746 (2025-001)

Material Weakness Repeat Finding

Requirement

Questioned Costs

Year

2025

Accepted

2025-12-19

Audit: 376534

Organization: Spring Valley Housing, Inc. (TN)

Auditor: TARWATER & COMPANY PC

AI Summary

Issue: The project did not make all necessary replacement reserve deposits.
Trend: This issue remains unresolved and is still being addressed by management.
Follow-up: Monitor progress on compliance with replacement reserve requirements.

Finding Text

S3900-010 Finding Reference Number 2024-02 S3900-020 Status Indicator Not cleared S3900-030 Statement of Condition for Previous Finding The Project failed to make all required replacement reserve deposits. S3900-040 Previous Response for Finding Concur S3900-050 Narrative Management is aware of this matter and it is ongoing.

Corrective Action Plan

Management agrees with the finding will take action to implement the recommendation as soon as cash flow allows.

Other Findings in this Audit

1165745 2025-001

Material Weakness Repeat

Programs in Audit

ALN	Program Name	Expenditures
14.181	SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES	$63,767