Answer: The security deposit account lacks sufficient funds.
Trend: This issue may lead to compliance risks and potential financial penalties.
List: Review funding requirements, assess current balance, and ensure timely deposits moving forward.
Finding Text
The security deposit account is not fully funded.
Corrective Action Plan
Management agrees with the finding. The security deposit deficiency was funded on July 31, 2023 in the amount of $636. Management will ensure that the security deposits are properly funded in the future.