FAC Explorer

Finding 969252 (2023-001)

-
Requirement
P
Questioned Costs
$1
Year
2023
Accepted
2024-04-10
Audit: 303128
Organization: South Central Housing, Inc. (IN)
Auditor: Comer Nowling and Associates PC

AI Summary

  • Issue: The Corporation did not make the necessary monthly deposits into the replacement reserve account.
  • Trend: This could lead to insufficient funds for future repairs or replacements, impacting financial stability.
  • Follow-up: Ensure immediate deposits are made and establish a monitoring process to prevent future lapses.

Finding Text

The Corporation failed to make required monthly deposits into the replacement reserve account.

Categories

Questioned Costs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $99,541