Finding 1165750 (2025-002)

Material Weakness Repeat Finding

Requirement

Questioned Costs

Year

2025

Accepted

2025-12-19

Audit: 376537

Organization: Village of Hope, Inc. (TN)

Auditor: TARWATER & COMPANY PC

AI Summary

Core Issue: The project did not make the necessary monthly deposits into the Replacement Reserve account.
Impacted Requirements: Compliance with financial management practices regarding reserve account contributions.
Recommended Follow-Up: Ensure timely deposits moving forward and monitor compliance closely.

Finding Text

S3900-010 Finding Reference Number 2024-01 S3900-020 Status Indicator Not cleared S3900-030 Statement of Condition for Previous Finding The Project failed to make required monthly deposits into the Replacement Reserve account. 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

1165747 2025-001

Material Weakness Repeat
1165748 2025-001

Material Weakness Repeat
1165749 2025-002

Material Weakness Repeat

Programs in Audit

ALN	Program Name	Expenditures
14.181	SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES	$69,484