Finding Text
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING 2026-001: SECTION 811, ASSISTANCE LISTING NUMBER 14.181 Condition: The Project's replacement reserve cash balance was underfunded at March 31, 2026. Criteria: During the year ended March 31, 2026, the Project withdrew $30 more than it should have from its replacement reserve account. Effect: The replacement reserve cash balance was $30 less than it should be at March 31, 2026. Context: Activity in the replacement reserve account for the year ended March 31, 2026 was tested. No sample was tested. Questioned costs - $30; Cause: The Project withdrew $30 more than the HUD approved withdrawal amount. Recommendation: The Project should deposit $30 into the replacement reserve account. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management deposited $30 into the replacement reserve account in April 2026. Total-Department of Housing and Urban Development - $30; Non-compliance code - A