Answer: Monthly deposits to the replacement reserve are short by $97,842.
Trend: This deficiency indicates a consistent issue with funding the reserve.
List: Recommend reviewing funding processes and adjusting future deposit schedules to meet requirements.
Finding Text
Required monthly deposits to the replacement reserve are deficient in the amount of $97,842.
Corrective Action Plan
Management Agrees with the findings. The replacement reserve deficiency will be funded in the amount of $97,842. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.