Finding Text
S2700-005 - Finding Reference Number - 2025-001; S2700-006 - Finding Resolution Status - Unresolved; S2700-007 - Information on Universal Population Size - N/A; S2700-008 - Sample Size Information - N/A; S2700-009 - Noncompliance Information - N/A; S2700-010 - Statement of Condition - At December 31, 2025 the Corporation did not fully deposit all required funds to the replacement reserve; S2700-020 - Criteria - The Corporation, in accordance with the regulatory agreement, is required to maintain a reserve for replacements. The required minimum monthly deposit is $6,000. At December 31, 2025 the required deposit for December was not made; S2700-030 - Effect or Potential Effect - The Corporation is not in compliance with the terms of the regulatory agreement. Failure to fully fund the replacement reserve may negatively impact the project's ability to complete future repairs; S2700-040 - Cause - The Corporation did not make the December 2025 reserve deposit until January 2026; S2700-050 - Recommendation - The Corporation should make all monthly deposits to the replacement reserve as required; S2700-055 - Auditor Non-Compliance Code - N; S2700-065 - Amount of Questioned Costs - $0; S2700-100 - Reporting Views of Responsible Officials - We will ensure that monthly RR contributions are made timely; S2700-070 - Concur or Do Not Concur with this Finding - Concurs; S2700-075 - Agree or Disagree with auditor recommendations - Agrees; S2700-080 - Completion Dat or Proposed Completion Date - December 31 2026; S2700-090 - Actions Taken or Planned on the Finding - We will ensure that monthly RR contributions are made timely