Answer: The security deposit account was not consistently funded as required.
Trend: This issue persisted throughout the entire year.
List: Review funding practices, ensure compliance with requirements, and implement regular monitoring.
Finding Text
THE SECURITY DEPOSIT ACCOUNT WAS NOT FULLY FUNDED AT ALL TIMES THROUGHOUT THE YEAR.
Corrective Action Plan
MANAGEMENT AGREES WITH THE FINDING. THE SECURITY DEPOSIT DEFICIENCY WAS FUNDED ON APRIL 1, 2024 IN THE AMOUNT OF $9,750. MANAGEMENT WILL ENSURE THAT THE SECURITY DEPOSITS ARE PROPERLY FUNDED AT ALL TIMES IN THE FUTURE.