Finding 42996 (2022-001)

Findings reference number: 2022-01 Title and AL Number of Federal Program: Supportive Housing for Persons with Disabilities, AL 14.181 Type of finding: Compliance Resolution Status: Completed. Population size: N/A Sample size: N/A Repeat finding: No Criteria: The December 2022 deposit to the replacement reserve was not made in a timely manner. Condition: The required deposits to the replacement reserve for the year were short. Cause: Management oversight. Effect: There was a shortfall in the monthly deposits to the replacement reserve as required by the Regulatory Agreement. Noncompliance code: N. Questioned costs: N/A Reporting views of officials: Auditee agrees with the finding, Context: This was noted while performing audit procedures on the replacement reserve. Recommendation: Management should ensure that all deposits required to be made to the replacement reserve be made on a timely basis. Auditee's comments: Auditee agrees with the finding and made the required deposit on January 23, 2023. Auditors' summary of auditee's comments: They are in agreement. Completion date: 1/23/2023 Response: Management plans to make all deposits in a timely manner.