Answer: Monthly deposits to the replacement reserve are short by $1,720.
Trend: This deficiency indicates a consistent issue with funding the reserve.
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 $1,720.
Corrective Action Plan
Management Agrees with the findings. The replacement reserve deficiency will be funded in the amount of $1,720. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.