FAC Explorer

Finding 6375 (2023-002)

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Requirement
N
Questioned Costs
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Year
2023
Accepted
2023-12-22
Audit: 8235
Organization: Whispering Hope, Inc. (LA)
Auditor: Maddox & Associates Apc

AI Summary

  • Answer: The replacement reserve is short by $6,964.
  • Trend: This indicates a potential ongoing issue with funding for future replacements.
  • List: Review reserve contributions, assess future needs, and adjust funding strategies accordingly.

Finding Text

The replacement reserve is deficient in the amount of $6,964.

Corrective Action Plan

Management agrees with the finding. The replacement reserve deficiency will be funded in the amount of $6,964. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.

Categories

No categories assigned yet.

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $4.36M
14.239 Home Investment Partnerships Program $52,940