Answer: An authorized payment was mistakenly taken from the wrong account.
Trend: This error highlights a recurring issue with account management practices.
List: Review account transfer processes and implement additional checks to prevent future mistakes.
Finding Text
Management inadvertently transferred an authorized replacement reserve disbursement from the residual receipts account instead of the replacement reserve account.
Corrective Action Plan
Management agrees with the finding. Management will transfer the funds from the replacement reserve account to the residual receipts account.