Finding 975048 (2023-001)

Requirement

Questioned Costs

Year

2023

Accepted

2024-05-28

Audit: 307348

Organization: Kearney Villa Housing Corporation (MO)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Monthly deposits to the replacement reserve are short by $63.
Trend: This deficiency indicates a potential ongoing issue with funding levels.
List: Follow up to ensure future deposits meet required amounts and address any underlying causes.

REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $63.

ALN	Program Name	Expenditures
14.155	Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects	$888,541
14.195	Section 8 Housing Assistance Payments Program	$114,016