FAC Explorer

Finding 401273 (2023-001)

-
Requirement
N
Questioned Costs
$1
Year
2023
Accepted
2024-06-19
Audit: 309294
Organization: Hickory Lane One, INC (MD)
Auditor: Tidwell Group LLC

AI Summary

  • Issue: The Corporation failed to deposit $5,580 into the Replacement Reserve account.
  • Trend: Lack of rental assistance payments led to insufficient cash flow for these deposits.
  • Follow-up: Review cash flow management and explore options for securing rental assistance to meet future reserve requirements.

Finding Text

The Corporation did not make the required deposits to the Replacement Reserve account. The Corporation did not receive the rental assistance payments during the year and thus did not have the cash flow to be able to make the deposits to the Replacement Reserve account in the amount of $5,580.

Corrective Action Plan

The Corporation is working to make the required deposits as cash flow permits.

Categories

Questioned Costs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $78,449