Finding 554841 (2024-001)

- Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2025-04-11

Audit: 353416

Organization: Dubourg Home (place Dubourg Apartments) (LA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $1,265.
Trend: This deficiency indicates a consistent issue with funding the reserve.
List: Review deposit schedules, adjust future contributions, and ensure compliance with funding requirements.

Required monthly deposits to the replacement reserve are deficient in the amount of $1,265.

Management agrees with the finding. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.

ALN	Program Name	Expenditures
14.155	Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects	$4.16M
14.195	Section 8 Housing Assistance Payments Program	$1.04M