FAC Explorer

Finding 498245 (2024-001)

-
Requirement
C
Questioned Costs
-
Year
2024
Accepted
2024-09-25
Audit: 321000
Organization: Allies Homes 2009, Inc. (NJ)
Auditor: Mercadien PC Certified Public Accountants

AI Summary

  • Answer: The Organization did not keep funds in an interest-bearing account, resulting in no interest earned.
  • Trend: This practice may lead to lost revenue opportunities over time.
  • List: Consider moving funds to an interest-bearing account to maximize earnings.

Finding Text

The Organization failed to hold funds in an interest-bearing account. No interest was earned during the year.

Corrective Action Plan

Management reached out to Fulton Bank to move these funds into a federally insured interest-bearing account.

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 $30,849