Answer: Management will deposit $146,016 into the replacement reserve.
Trend: Future monthly deposits will be made as required by HUD.
List: Confirm ongoing compliance with HUD deposit requirements.
Finding Text
Management will deposit the $146,016 into the replacement reserve and confirm future monthly deposits are made in the amount required by HUD.
Corrective Action Plan
Management will make the delinquent deposit to the replacement reserve of $146,016 if funds are available and establish transfers for the monthly deposit amount.