FAC Explorer

Finding 502442 (2024-001)

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Requirement
N
Questioned Costs
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Year
2024
Accepted
2024-10-10
Audit: 324460
Organization: Durango Voa Elderly Housing, Inc. (cedar View) (LA)
Auditor: Maddox & Associates Apc

AI Summary

  • Answer: The replacement reserve is short by $80,000.
  • Trend: This deficiency indicates a potential risk in maintaining property assets.
  • List: Follow up on funding strategies to address the $80,000 shortfall.

Finding Text

The replacement reserve is deficient in the amount of $80,000.

Corrective Action Plan

Management Agrees with the finding. The project is in the process of getting an extension on the loan repayment

Categories

No categories assigned yet.

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $3.53M