Issue: The security deposit account is lacking sufficient funds.
Trend: This underfunding could lead to compliance risks and financial instability.
Follow-up: Review funding procedures and ensure the account is brought up to the required level.
Finding Text
THE SECURITY DEPOSIT ACCOUNT IS NOT FULLY FUNDED.
Corrective Action Plan
MANAGEMENT AGREES WITH THE FINDING. THE SECURITY DEPOSIT DEFICIENCY WILL BE FUNDED IN THE AMOUNT OF $482. MANAGEMENT WILL ENSURE THAT THE SECURITY DEPOSITS ARE PROPERTY FUNDED IN THE FUTURE.