Issue: The security deposit account is lacking sufficient funds.
Trend: This underfunding may lead to compliance risks and potential financial liabilities.
Follow-up: Review funding policies and ensure the account is adequately replenished.
Finding Text
THE SECURITY DESPOSIT ACCOUNT IS NOT FULLY FUNDED.
Corrective Action Plan
MANAGEMENT AGREES WITH THE FINDING. THE SECURITY DEPOSIT DEFICIENCY WILL BE FUNDED IN THE AMOUNT OF $355. MANAGEMENT WILL ENSURE THAT THE SECURITY DEPOSITS ARE PROPERLY FUNDED IN THE FUTURE.