Issue: The necessary deposit to the residual receipts account was not completed for the year ending September 30, 2023.
Trend: This oversight could indicate a pattern of missed financial obligations, potentially affecting future funding and compliance.
Follow-up: Ensure the deposit is made promptly and review processes to prevent similar issues in the future.
Finding Text
The required deposit for the year ended September 30, 2023 was not made to the residual receipts account.
Corrective Action Plan
The remaining required Residual Receipts deposit was deposited in February 2024. New management has taken over and will ensure any required deposits are made on time.