Answer: Loans were not repaid after receiving the funds.
Trend: This issue indicates a pattern of non-repayment that could affect financial stability.
List: Follow up by reviewing loan agreements, assessing repayment processes, and implementing stricter monitoring.
Finding Text
Failure to repay loans once funds were received.
Corrective Action Plan
Management agrees with the finding. The replacement reserve loan will be repaid in the amount of $38,129. Management will ensure that loans withdrawn from the replacement reserve will be repaid on a timely basis in the future.