Finding 396709 (2023-001)

Finding 2023-001 Questioned Costs: $7,702 Information on Universe and Population Size: N/A Sample Size Information: N/A Noncompliance Information: The Project did not make the required deposits to the reserve for replacements (“RFR”) account during the year ended December 31, 2013. Condition: The RFR account is deficient $7,702 in deposits for the year ending December 31, 2023. Criteria: Funds in the amount $7,702 were mistakenly deposited into the Insurance Escrow account. Effect or Potential Effect: The Project did not make the required deposits to RFR account during the year ended December 31, 2023 and the RFR account is deficient $7,702 in deposits as of December 31, 2023. Recommendation: The Project should make the required deposits as soon as possible and develop procedures to detect mistakes in a timely manner. Reporting Views of Responsible Officials: Those charged with governance agree with the findings deposit the funds in the RFR account as soon as possible.