Finding Text
Federal program - Section 202: Criteria - Federal regulations require the Corporation to deposit a specific amount to the replacement reserve every month; Condition - deposits for the months of May through November were not made until December and the deposits were fully funded; Cause - the property was experiencing cash flow issues and could not afford to fund the monthly deposits until December; Recommendation - in the future the deposits should be made on a monthly basis. Response: Management will continue to strive to make the required monthly deposits in the future.