Finding 974540 (2023-001)

Requirement

Questioned Costs

Year

2023

Accepted

2024-05-21

Audit: 306821

Organization: Cmc Retirement Village, Inc. (MO)

Auditor: Maddox & Associates Apc

AI Summary

Core Issue: The security deposit account balance is below the required obligation.
Impacted Requirement: Compliance with the regulatory agreement regarding security deposit balances.
Recommended Follow-Up: Increase the account balance to meet the security deposit obligation.

The regulatory agreement requires that the balance in the security deposit account cannot be less than the security deposit obligation.

ALN	Program Name	Expenditures
14.135	Mortgage Insurance_rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate	$4.89M
14.157	Supportive Housing for the Elderly	$1.10M
14.195	Section 8 Housing Assistance Payments Program	$608,909