FAC Explorer

Finding 1223929 (2025-001)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2025
Accepted
2026-07-16
Audit: 407339
Organization: Vermont Seniors (CA)
Auditor: COHNREZNICK LLP

AI Summary

  • Issue: As of December 31, 2025, there are no deposits made to the reserve for replacements, totaling $610,030.
  • Trend: This lack of deposits indicates a potential ongoing neglect of funding necessary for future replacements.
  • Recommendation: Follow up to ensure timely deposits are made to the reserve to meet financial obligations and avoid future shortfalls.

Finding Text

Condition/Context At December 31, 2025, deposits to the reserve for replacements account in a cumulative amount of $610,030 have not been made.

Corrective Action Plan

Management should work with HUD to come to a resolution to this matter.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1223927 2025-001
    Material Weakness Repeat
  • 1223928 2025-002
    Material Weakness Repeat
  • 1223930 2025-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.239 HOME INVESTMENT PARTNERSHIPS PROGRAM $10.96M
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $730,049