FAC Explorer

Finding 400766 (2023-003)

Significant Deficiency
Requirement
C
Questioned Costs
-
Year
2023
Accepted
2024-06-13
Audit: 308777
Organization: Jude's Place Apartments, Inc. (KY)
Auditor: Deming Malone Livesay & Ostroff

AI Summary

  • Answer: The Organization missed some monthly reserve deposits throughout the year.
  • Trend: This issue may indicate a pattern of inconsistent financial management.
  • List: Follow up by reviewing deposit schedules and implementing a tracking system to ensure all future deposits are made on time.

Finding Text

The Organization did not make all of its monthly reserve deposits during the year.

Corrective Action Plan

The management of Jude’s Place Apartments, Inc. accepts the recommendation of Deming, Malone, Livesay & Ostroff and, Accordingly, management will regularly reconcile its deposits for the reserve for replacement and ensure that all required deposits to the reserve for replacement are made during the year. A deposit has been made to correct the shortage.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 400764 2023-001
    Material Weakness
  • 400765 2023-002
    Material Weakness
  • 400767 2023-001
    Material Weakness
  • 400768 2023-002
    Material Weakness
  • 400769 2023-003
    Significant Deficiency
  • 977206 2023-001
    Material Weakness
  • 977207 2023-002
    Material Weakness
  • 977208 2023-003
    Significant Deficiency
  • 977209 2023-001
    Material Weakness
  • 977210 2023-002
    Material Weakness
  • 977211 2023-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $928,000
14.239 Home Investment Partnerships Program $79,327