Answer: Monthly deposits to the debt service savings are short by $119,932.
Trend: This deficiency indicates a consistent issue with meeting required financial obligations.
List: Follow up by reviewing deposit schedules and adjusting future contributions to ensure compliance.
Finding Text
Required monthly deposits to the debt service savings are deficient in the amount of $119,932.
Corrective Action Plan
Management Agrees with the findings. The debt service savings deficiency will be funded in the amounts of $69,960 and $119,932. Management will ensure that the debt service savings deposits are made on a timely basis in the future.