FAC Explorer

Finding 1229906 (2026-002)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2026
Accepted
2026-09-16
Audit: 411127
Organization: Agape Central Texas Properties, Inc. (TX)
Auditor: DAVIS RAY & CO PC

AI Summary

  • Answer: The cash account for security deposits is less than the liability account.
  • Trend: This discrepancy indicates a potential risk in managing security deposits.
  • List: Review cash balances, adjust accounts as needed, and ensure compliance with financial requirements.

Finding Text

The required cash account for security deposits does not equal or exceed the liability account

Corrective Action Plan

Management will transfer the required deposit to the security deposit cash account

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1229905 2026-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $9.95M