FAC Explorer

Finding 43352 (2022-001)

-
Requirement
C
Questioned Costs
-
Year
2022
Accepted
2023-09-27
Audit: 49594
Organization: Warren Plaza (PA)
Auditor: Louis Plung & CO

AI Summary

  • Answer: The reserve for replacement is insufficient to cover future asset needs.
  • Trend: Recent evaluations show a consistent shortfall in funding for asset replacements.
  • List: Review current reserve levels, assess future asset replacement costs, and adjust funding strategies accordingly.

Finding Text

RESERVE FOR REPLACEMENT

Corrective Action Plan

ACTION TAKEN: WE CONCUR WITH THE RECOMMENDATION, AND IT WAS IMPLEMENTED EFFECTIVE SEPTEMBER 1, 2023.

Categories

No categories assigned yet.

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $1.06M
14.195 Section 8 Housing Assistance Payments Program $139,139