Answer: Surplus cash was not deposited into the residual receipts account on time.
Trend: This issue indicates a recurring problem with timely cash management.
List: Ensure all surplus cash is deposited within 90 days moving forward; review current cash handling procedures.
Finding Text
SURPLUS CASH WAS NOT DEPOSITED INTO THE RESIDUAL RECEIPTS ACCOUNT WITHIN 90 DAYS.
Corrective Action Plan
MANAGEMENT AGREES WITH THE FINDING. THE RESIDUAL RECEIPTS ACCOUNT DEFICIENCY WAS FUNDED ON NOVEMBER 18, 2024 IN THE AMOUNT OF $575. MANAGEMENT WILL ENSURE THAT THE RESIDUAL RECEIPTS ACCOUNT IS PROPERLY FUNDED IN THE FUTURE.