Answer: The Corporation missed required deposits to the reserve for replacements fund.
Trend: This issue indicates a potential pattern of non-compliance with funding requirements.
List: Follow up by reviewing deposit schedules and ensuring future compliance with funding obligations.
Finding Text
The Corporation did not make all of the required deposits to the reserve for replacements fund for the year ended December 31, 2023 in the amount of $561.
Corrective Action Plan
Management agrees with the recommendation and made a catch-up deposit on June 4, 2026 and adjusted the monthly funding to the required amount.