FAC Explorer

Finding 1238126 (2025-002)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-09-29
Audit: 413009
Organization: Newburg Retirement Center, Inc. (CA)
Auditor: ANDERSON LUCAS SOMERVILLE & BORGES LLP

AI Summary

  • Answer: The tenant Security Deposit bank account lacked enough funds to match the total Security Deposit liabilities as of December 31, 2025.
  • Trend: This indicates a recurring issue with maintaining adequate funds in the Security Deposit account.
  • List: Review and adjust funding practices for the Security Deposit account to ensure it covers all liabilities moving forward.

Finding Text

The organization did not have a sufficient balance in their tenant Security Deposit bank account to cover the full amount of the related Security Deposit liability balance at December 31, 2025

Corrective Action Plan

At December 31, 2025, the balance in the Tenant Security Deposit bank account was less than the related Security Deposit liability amount by $3,061. We have recently transferred the amount of the December 31, 2025 shortfall into the Security Deposit bank account.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1238125 2025-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $957,980
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $250,484