Finding Text
2023-001 - Cash Management - Mortgage Insurance Rental Housing - ALN No. 14.155. Criteria or Specific Requirement: The Project is required to maintain a tenant security deposit bank account. Condition: - During the year, the Project's owner closed the security deposit bank account. Cause: Unknown. Effect: At year-end, the Project did not have a seperate tenant security deposit bank account. Questioned Costs: N/A. Repeat Finding: Not a repeat finding. Recommendation: The Project should maintain a tenant security deposit bank account in accordance with the regulatory agreement. Response: A tenant security deposit bank account will be maintained.