Finding 1169803 (2025-002)

Material Weakness Repeat Finding
Requirement
LN
Questioned Costs
-
Year
2025
Accepted
2026-01-20

AI Summary

  • Answer: Monthly deposits to the replacement reserve are short by $82.
  • Trend: This deficiency indicates a potential ongoing issue with funding the reserve.
  • List: Follow up by reviewing deposit schedules and ensuring compliance with funding requirements.

Finding Text

Required monthly deposits to the replacement resreve are deficient in the amount of $82.

Corrective Action Plan

Management agrees with the finding. The replacement reserve deficency was funded on August 13, 2025 in the amount of $82. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1169802 2025-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $2.07M
14.195 SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM $346,190