Finding 1169216 (2025-001)

Material Weakness Repeat Finding

Requirement

Questioned Costs

Year

2025

Accepted

2026-01-15

Audit: 382118

Organization: Montrose Voa Elderly Housing INC (meadowlark Court) (VA)

Auditor: MADDOX & ASSOCIATES APC

AI Summary

Answer: The replacement reserve is short by $50,000.
Trend: This deficiency indicates a potential risk in funding future repairs or replacements.
List: Recommend assessing funding strategies to address the shortfall and ensure adequate reserves moving forward.

THE REPLACEMENT RESERVE IS DEFICIENT IN THE AMOUNT OF $50,000.

MANAGEMENT AGREEWS WITH THE FINDING. THE PROJECT IS IN THE PROCESS OF GETTING AN EXTENSION ON THE LOAN REPAYMENT.

ALN	Program Name	Expenditures
14.157	SUPPORTIVE HOUSING FOR THE ELDERLY	$3.22M