Answer: The Organization failed to make timely deposits to the replacement reserve account for several months.
Trend: This issue indicates a pattern of late deposits from February to August.
List: Follow up by reviewing the deposit schedule and implementing reminders to ensure future compliance.
Finding Text
The Organization made all of its deposits to the replacement reserve account, but did not make the February, March, April, May, June, July, and August deposits on time.
Corrective Action Plan
Management acknowledges the noncompliance and plans to implement procedures to ensure future deposits are made in a timely manner.