Answer: The tenant security deposits cash account is underfunded by $10,660 as of September 30, 2024.
Trend: This indicates a consistent issue with funding tenant security deposits, which could affect compliance and tenant trust.
List: Management should prioritize funding the account to meet requirements and ensure financial integrity.
Finding Text
As of September 30, 2024, management has not fully funded the tenant security deposits cash account. The tenant security deposits cash account was underfunded by $10,660.
Corrective Action Plan
Management transferred $10,660 from operating to the tenant security account to ensure it’s properly funded.