Finding 1216458 (2025-003)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2025
Accepted
2026-06-03

AI Summary

  • Answer: The tenant security deposits cash account is underfunded by $10,470 as of September 30, 2025.
  • Trend: This indicates a consistent issue with funding tenant security deposits, which could affect compliance and tenant trust.
  • List: Follow up by ensuring management addresses the funding gap and implements a plan to prevent future underfunding.

Finding Text

As of September 30, 2025, management has not fully funded the tenant security deposits cash account. The tenant security deposits cash account was underfunded by $10,470.

Corrective Action Plan

Tenant securities are being sent to the respective security deposit account.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1216457 2025-002
    Material Weakness Repeat
  • 1216459 2025-004
    Material Weakness Repeat
  • 1216460 2025-005
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $10.82M