FAC Explorer

Finding 1171398 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-01-30
Audit: 384672
Organization: Greater Community Housing, Inc. (IN)
Auditor: COMER NOWLING AND ASSOCIATES PC

AI Summary

  • Answer: The Corporation failed to fully fund the replacement reserve.
  • Trend: This could lead to future financial shortfalls for necessary replacements.
  • List: Review funding practices, assess impact on future projects, and ensure compliance moving forward.

Finding Text

The Corporation did not fund the replacement reserve in the full amount required.

Corrective Action Plan

Management will make the delinquent deposit to the replacement reserve of $2,500 and establish transfers for the monthly deposit amount.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1171399 2025-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.181 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES $75,772