FAC Explorer

Finding 1240535 (2025-002)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-10-15
Audit: 414980
Organization: Phac No. 1, Inc. (HI)
Auditor: COMER NOWLING AND ASSOCIATES PC

AI Summary

  • Answer: The replacement reserve is short by $48,330 this year.
  • Trend: This indicates a consistent issue with funding levels for the reserve.
  • List: Recommend reviewing funding strategies and adjusting budgets to ensure adequate reserve levels moving forward.

Finding Text

The replacement reserve is under funded by $48,330 for the year.

Corrective Action Plan

Management made a deposit of $48,330 on April 21, 2026 to correct the underfunding.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1240534 2025-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $314,738