Answer: The security deposit account is underfunded, which poses a risk to compliance and financial stability.
Trend: This issue may indicate a pattern of inadequate funding practices that could affect future financial obligations.
List: Follow up by reviewing funding procedures, ensuring compliance with requirements, and addressing any discrepancies promptly.
Finding Text
The security deposit account was not fully funded.
Corrective Action Plan
Management agrees with the finding. The security deposit deficiency was funded on August 27, 2024 in the amount of $319. Management will ensure that the security deposits are properly funded in the future.