Answer: Monthly deposits to the replacement reserve are short by $411.
Trend: This deficiency indicates a potential ongoing issue with funding levels.
List: Recommend reviewing deposit schedules and adjusting future contributions to meet requirements.
Finding Text
REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $411.
Corrective Action Plan
MANAGEMENT AGREES WITH THE FINDING. THE REPLACEMENT RESERVE DEFICIENCY WAS FUNDED ON JULY 15, 2024 IN THE AMOUNT OF $411. MANAGEMENT WILL ENSURE THAT THE REPLACEMENT RESERVE DEPOSITS ARE MADE ON A TIMELY BASIS IN THE FUTURE.