Finding 587322 (2023-001)

Requirement

Questioned Costs

Year

2023

Accepted

2024-01-30

Audit: 14631

Organization: Camden Cty Voa Elderly Hsg Foundation INC (lindenwold Towers) (LA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $234.
Trend: This deficiency indicates a potential ongoing issue with funding the reserve.
List: Follow up by reviewing deposit schedules and ensuring future contributions meet required amounts.

Required monthly deposits to the replacement reserve are deficient in the amount of $234.

ALN	Program Name	Expenditures
14.155	Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects	$4.52M
14.195	Section 8 Housing Assistance Payments Program	$1.02M
14.191	Multifamily Housing Service Coordinators	$81,665