FAC Explorer

Finding 392733 (2023-001)

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Requirement
N
Questioned Costs
-
Year
2023
Accepted
2024-04-09
Audit: 303016
Organization: St. Tammany Manor, Inc. (rouquette Lodge Apts.) (LA)
Auditor: Maddox & Associates Apc

AI Summary

  • Answer: Monthly deposits to the replacement reserve are short by $1,976.
  • Trend: This deficiency indicates a consistent issue with funding the reserve.
  • List: Follow up by reviewing deposit schedules and ensuring future contributions meet required amounts.

Finding Text

Required monthly deposits to the replacement reserve are deficient in the amount of $1,976.

Corrective Action Plan

Management agrees with the finding. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.

Categories

No categories assigned yet.

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $5.51M
14.195 Section 8 Housing Assistance Payments Program $1.05M