CHELSEA JEWISH NURSING HOME INCNon-Profit

Criteria: HUD guidelines require cash to be maintained in financial institutions, which meet minimum Government National Mortgage Association (GNMA) ratings, when balances exceed federal insurance limits. Condition: The Organization maintains cash balances in excess of federally insured limits in a financial institution that does not meet HUD guidelines. Questioned Costs: None. Context: The cash balance at December 31, 2025 was approximately $1,400,000, held in two financial institutions, one of which had an approximate balance of $1,200,000, which exceeded federal insurance limits by approximately $950,000. Effect: No negative effect was discovered during the audit. Cause: The Organization's cash balances held at two financial institutions exceed the federal insurance limits. Repeat Finding: Yes, prior year finding 2024-001. Recommendation: The Organization should transfer all funds to a financial institution that meets HUD guidelines.

deposit any excess surplus cash into a residual receipts account within 90 days after the end of the annual or semi-annual fiscal period for which surplus cash is calculated. Condition: The Organization had surplus cash as of June 30, 2021 which it had not deposited into a residual receipts account by September 2021. Questioned Costs: None. Context: The surplus cash balance was $2,111,922 at June 30, 2021. At this time, the Organization also had owner advances due in the amount of $1,660,755. Effect: No negative effect was discovered during the audit. Cause: The Organization has not deposited June 30, 2021 surplus cash into a residual receipts account. Repeat Finding: Yes, prior year finding 2024-002. Recommendation: Per the terms of the Project's borrower regulatory agreement with HUD, management should request HUD approval to pay back owner advances of $1,660,755 prior to depositing remaining surplus cash. Management should then deposit the remaining amount of surplus cash resulting from the June 30, 2021 calculation into the residual receipts account as soon as possible and monitor surplus cash closely during each annual and semi-annual period.

Federal Agency: United States Department of Housing and Urban Development Federal Program: Section 232 Mortgage Insurance for Nursing Homes Federal Assistance Listing Number: 14.129 Award Period: 2024 Type of Finding: Other Criteria: HUD guidelines require cash to be maintained in financial institutions, which meet minimum Government National Mortgage Association (GNMA) ratings, when balances exceed federal insurance limits. Condition: The Organization maintains cash balances in excess of federally insured limits in a financial institution that does not meet HUD guidelines. Questioned Costs: None. Context: The cash balance at December 31, 2024 was approximately $2,400,000, held in two financial institutions, which exceeded federal insurance limits by approximately $1,900,000. Effect: No negative effect was discovered during the audit. Cause: The Organization’s cash balances held at two financial institutions exceed the federal insurance limits. Repeat Finding: Yes, prior year finding 2023-001. Recommendation: The Organization should transfer all funds to a financial institution that meets HUD guidelines.

Federal Agency: United States Department of Housing and Urban Development Federal Program: Section 232 Mortgage Insurance for Nursing Homes Federal Assistance Listing Number: 14.129 Award Period: 2024 Type of Finding: Other Criteria: The Project's Borrower Regulatory Agreement with HUD requires the Organization to deposit any excess surplus cash into a residual receipts account within 90 days after the end of the annual or semi-annual fiscal period for which surplus cash is calculated. Condition: The Organization had surplus cash as of June 30, 2021 which it had not deposited into a residual receipts account by September 2021. Questioned Costs: None. Context: The surplus cash balance was $2,111,922 at June 30, 2021. At this time, the Organization also had owner advances due in the amount of $1,660,755. Effect: No negative effect was discovered during the audit. Cause: The Organization has not deposited June 30, 2021 surplus cash into a residual receipts account. Repeat Finding: Yes, prior year finding 2023-002. Recommendation: Per the terms of the Project’s borrower regulatory agreement with HUD, management should request HUD approval to pay back owner advances of $1,660,755 prior to depositing remaining surplus cash. Management should then deposit the remaining amount of surplus cash resulting from the June 30, 2021 calculation into the residual receipts account as soon as possible and monitor surplus cash closely during each annual and semi-annual period.

Criteria: HUD guidelines require cash to be maintained in financial institutions, which meet minimum Government National Mortgage Association (GNMA) ratings, when balances exceed federal insurance limits. Condition: The Organization maintains cash balances in excess of federally insured limits in a financial institution that does not meet HUD guidelines. Questioned Costs: None Context: The cash balance at December 31, 2023 was approximately $1,300,000, held in two financial institutions, which exceeded federal insurance limits by approximately $800,000. Effect: No negative effect was discovered during the audit. Cause: As the Organization is a community based nonprofit organization, management considers supporting a local bank to be a worthwhile endeavor. Repeat finding: Yes, prior year finding 2022-001. Recommendation: The Organization should transfer all funds to a financial institution that meets HUD guidelines.

Criteria: The Project's Borrower Regulatory Agreement with HUD requires the Organization to deposit any excess surplus cash into a residual receipts account within 90 days after the end of the annual or semi-annual fiscal period for which surplus cash is calculated. Condition: The Organization had surplus cash as of June 30, 2021 which it had not deposited into a residual receipts account by September 2021 because the semi-annual calculation was not performed timely. The Organization deposited $622,564 of surplus cash for the period ended December 31, 2020 into the residual receipts account during 2022. Questioned Costs: None Context: The surplus cash balance was $2,111,922 at June 30, 2021. Effect: No negative effect was discovered during the audit. Cause: As the Organization had deficiencies in surplus cash in all prior periods except for December 31, 2020, management was not expecting a surplus cash position as of June 30, 2021 and a residual receipts account was therefore not established. The Organization has not deposited June 30, 2021 surplus cash in order to maintain sufficient levels of cash flow. Repeat finding: Yes, prior year finding 2022-002. Recommendation: Management should deposit the amount of surplus cash at June 30, 2021 into the residual receipts account as soon as possible and monitor surplus cash closely during each annual and semi-annual period.

2022 ? 001 Federal agency: U.S. Department of Housing and Urban Development Federal program: Section 232 Mortgage Insurance for Nursing Homes Federal Assistance Listing Number: 14.129 Award Period: 2022 Type of Finding: ? Material Weakness in Internal Control Over Compliance ? Other Matters Criteria or specific requirement: HUD guidelines require Project cash to be maintained in financial institutions, which meet minimum GNMA ratings, when balances exceed federal insurance limits. Condition: The Organization maintains cash balances in excess of federally insured limits in a financial institution that does not meet HUD guidelines. Questioned costs: None Context: The cash balance at December 31, 2022 was approximately $2.2 million, held in two financial institutions, which exceeded federal insurance limits by approximately $1.7 million. Cause: As the Organization is a community based nonprofit organization, management considers supporting a local bank to be a worthwhile endeavor. Effect: No negative effect was discovered during the audit. Repeat finding: Yes, prior year finding 2021-001 Recommendation: The Organization should transfer all funds to a financial institution that meets HUD guidelines. Views of responsible officials and planned corrective actions: The Organization is a community based non-profit and considers supporting local businesses, including a bank, a worthwhile business practice. The Organization is currently in the process of reviewing its banking relationships, and looking at other scenarios which would involve transferring funds to another institution.

2022 ? 002 Federal agency: U.S. Department of Housing and Urban Development Federal program: Section 232 Mortgage Insurance for Nursing Homes Federal Assistance Listing Number: 14.129 Award Period: 2022 Type of Finding: ? Material Weakness in Internal Control Over Compliance ? Other Matters Criteria or specific requirement: The Project?s Borrower Regulatory Agreement with HUD requires the Organization to deposit any excess Surplus Cash into a residual receipts account within 90 days after the end of the annual or semi-annual fiscal period for which Surplus Cash is calculated. Condition: The Organization had surplus cash as of June 30, 2021 which it had not deposited into a residual receipts account by September 2021 because the semi-annual calculation was not performed timely. The Organization deposited $622,564 of surplus cash for the period ended December 31, 2020 into the residual receipts account during 2022. Questioned costs: None Context: The Surplus Cash balance was $2,111,922 at June 30, 2021. Cause: As the Organization had deficiencies in Surplus Cash in all prior periods except for December 31, 2020, management was not expecting a Surplus Cash position as of June 30, 2021 and a residual receipts account was therefore not established. The Organization has not deposited June 30, 2021 surplus cash in order to maintain sufficient levels of cash flow. Effect: No negative effect was discovered during the audit. Repeat finding: Yes, prior year finding 2021-002 Recommendation: Management should deposit the amount of Surplus Cash at June 30, 2021 into the residual receipts account as soon as possible and monitor surplus cash closely during each annual and semi-annual period. Views of responsible officials and planned corrective actions: The Organization was fortunate to have sufficient cash on hand in order to continue to provide the highest-quality of care to its residents during the COVID-19 pandemic, primarily as a result of federal and state stimulus funds, which were restricted in usage, received during 2020 and 2021. The Organization made it a priority to ensure that its staff continued to be compensated throughout the pandemic. Accordingly, the Organization kept cash on hand in order to meet the needs of the residents cared for daily and the dedicated staff who serve them. The Organization was not expecting a surplus cash situation at December 31, 2020 or June 30, 2021. Had the Organization not received stimulus funds through programs such as the Provider Relief Fund and Paycheck Protection Program, the Organization would not have had surplus cash at both December 31, 2020 and June 30, 2021. The required deposit due to the residual receipt account for the year ended December 31, 2020 was made on May 31, 2022. The Organization is currently in the process of discussing repayment terms for the deposit due for the period June 30, 2021 with its asset manager.

2022 ? 003 Federal agency: U.S. Department of Housing and Urban Development Federal program: Section 232 Mortgage Insurance for Nursing Homes Federal Assistance Listing Number: 14.129 Award Period: 2022 Type of Finding: ? Material Weakness in Internal Control Over Compliance ? Other Matters Criteria or specific requirement: Per the Project's Borrower Regulatory Agreement with HUD, no funds derived from or in connection with the operation of the Organization may be distributed, advanced, or otherwise used for any purpose other than making payments required under the loan documents, making payments pursuant to any AR financing documents, and making payments for goods and services Condition: The Organization paid $436,547 to a related party, Chelsea Jewish Lifecare, Inc., for costs that have not yet been incurred. Questioned costs: None Context: The Organization has a $436,547 receivable from a related party as of December 31, 2022. Cause: The Organization operates under a common paymaster agreement with Chelsea Jewish Lifecare, Inc. (CJL), the sole corporate member of the Organization. As such, the Organization transfers funding to cover its share of payroll and related costs on a weekly basis to CJL. Approximately $192,000 of the advance noted was to cover payroll and related costs for the pay period ending December 31, 2022 which was paid the first week in January 2023. The remaining balance resulted from the weekly transfer amount not being adjusted following a number of terminations at the beginning of November 2022. Effect: No negative effect was discovered during the audit. Repeat finding: No Recommendation: The Project should monitor transactions with related parties to ensure they comply with HUD guidelines. Views of responsible officials and planned corrective actions: The Organization operates under a common paymaster agreement with Chelsea Jewish Lifecare, Inc. (CJL), the sole corporate member of the Organization. As such, the Organization transfers funding to cover its share of payroll and related costs on a weekly basis to CJL. Approximately $192,000 of the advance noted was to cover payroll and related costs for the pay period ending December 31, 2022 which was paid the first week in January 2023. The remaining balance resulted from the weekly transfer amount not being adjusted following a number of terminations at the beginning of November 2022. Amounts transferred in excess were fully utilized to cover payroll and related costs in January 2023. Management has reviewed and revised procedures to ensure excess funds are not transferred in the future.

2021 ? 001 Federal agency: U.S. Department of Housing and Urban Development Federal program: Section 232 Mortgage Insurance for Nursing Homes Federal Assistance Listing Number: 14.129 Award Period: 2021 Type of Finding: ? Material Weakness in Internal Control Over Compliance ? Other Matters Criteria or specific requirement: HUD guidelines require Project cash to be maintained in financial institutions, which meet minimum GNMA ratings, when balances exceed federal insurance limits. Condition: The Organization maintains cash balances in excess of federally insured limits in a financial institution that does not meet HUD guidelines. Questioned costs: None Context: The cash balance at December 31, 2021 was approximately $5.2 million, held in two financial institutions, which exceeded federal insurance limits by approximately $4.7 million. Cause: As the Organization is a community based nonprofit organization, management considers supporting a local bank to be a worthwhile endeavor. Effect: No negative effect was discovered during the audit. Repeat finding: Yes, prior year finding 2020-001 Recommendation: The Organization should transfer all funds to a financial institution that meets HUD guidelines. Views of responsible officials and planned corrective actions: The Organization is a community based non-profit and considers supporting local businesses, including a bank, a worthwhile business practice. The Organization however is currently in the process of reviewing its banking relationships and looking at other scenarios which would involve transferring funds to another institution.

2021 ? 002 Federal agency: U.S. Department of Housing and Urban Development Federal program: Section 232 Mortgage Insurance for Nursing Homes Federal Assistance Listing Number: 14.129 Award Period: 2021 Type of Finding: ? Material Weakness in Internal Control Over Compliance ? Other Matters Criteria or specific requirement: The Project?s Borrower Regulatory Agreement with HUD requires the Organization to deposit any excess Surplus Cash into a residual receipts account within 90 days after the end of the annual or semi-annual fiscal period for which Surplus Cash is calculated. Condition: The Organization had surplus cash as of December 31, 2020 which it had not deposited into a residual receipts account by March 2021. Additionally, the Organization had surplus cash as of June 30, 2021, which it had not deposited into a residual receipts account by September 2021 because the semi-annual calculation was not performed timely. Questioned costs: None Context: The Surplus Cash balance was $622,564 at December 31, 2020 and $2,111,922 at June 30, 2021. Cause: As the Organization had deficiencies in Surplus Cash in all prior periods, management was not expecting a Surplus Cash position as of December 31, 2020 or June 30, 2021 and a residual receipts account was therefore not established. Effect: No negative effect was discovered during the audit. Repeat finding: Yes, prior year finding 2020-002 Recommendation: Management should deposit the amount of Surplus Cash at December 31, 2020 and June 30, 2021 into a residual receipts account as soon as possible and monitor surplus cash closely during each annual and semi-annual period. Views of responsible officials and planned corrective actions: The Organization was fortunate to have sufficient cash on hand in order to continue to provide the highest-quality of care to its residents during the COVID-19 pandemic, primarily as a result of federal and state stimulus funds received during 2020 and 2021. The Organization made it a priority to ensure that its staff continued to be compensated throughout the pandemic. Accordingly, the Organization kept cash on hand in order to meet the needs of the residents cared for daily and the dedicated staff who serve them. The Organization was not expecting a surplus cash situation at December 31, 2020 or June 30, 2021. Had the Organization not received stimulus funds through programs such as the Provider Relief Fund and Paycheck Protection Program, the Organization would not have had surplus cash at both December 31, 2020 and June 30, 2021. The required deposit due to the residual receipt account for the year ended December 31, 2020 was made on May 31, 2022. The Organization is currently in the process of discussing repayment terms for the deposit due for the period June 30, 2021 with its asset manager.

2021 ? 003 Federal agency: U.S. Department of Housing and Urban Development Federal program: Section 232 Mortgage Insurance for Nursing Homes Federal Assistance Listing Number: 14.129 Award Period: 2021 Type of Finding: ? Material Weakness in Internal Control Over Compliance ? Other Matters Criteria or specific requirement: The operator's financial statements are required to be submitted to HUD (60 days after quarter end and 90 days after year-end), per the nursing home regulatory agreement. Condition: The Organization did not submit the required financial reporting for quarters one and two of 2021. Questioned costs: None Context: The Organization was in the process of refinancing with a new bank in early 2021 and did not provide their lender at the time with the required financial reports. Cause: The Organization expected to close on its refinancing in the first quarter of 2021, however this was delayed until May 2021. Effect: No negative effect was discovered during the audit. Repeat finding: No Recommendation: The Organization should review internal control policies to ensure required reporting is submitted timely going forward. Views of responsible officials and planned corrective actions: During 2020, the Organization began exploring refinancing options with M&T Realty Capital Corporation. The refinancing was originally expected to close no later than December 31, 2020. For a variety of reasons, the refinancing was delayed and then expected to close no later than March 31, 2021. During the first quarter of 2021, the refinancing was delayed again, and ultimately closed on May 27, 2021. During the entire refinancing process, the Organization was in close contact with its former lender, Newmark Knight Frank, and new lender, M&T Realty Capital Corporation. As a result of the continued delay of the close date, quarterly reports were not submitted to the lender for the first two quarters of 2021. The Organization commenced quarterly reporting for the period ended September 30, 2021. Additionally, the Organization has reviewed and revised procedures to ensure reporting is submitted timely in accordance with the Regulatory Agreement.

2021 ? 004 Type of Finding: ? Material Weakness in Internal Control Over Financial Reporting Criteria or specific requirement: Management is responsible for adopting sound accounting policies and establishing and maintaining a system of internal control for the fair presentation of the basic financial statements in accordance with accounting principles generally accepted in the United States of America. Condition: In conjunction with the completion of the annual financial statements, numerous entries were required to be made by management and the auditors in order to report accurate financial statements in accordance with accounting principles generally accepted in the United States of America. Adjustments were recorded by management and the auditors to correct balances based on reconciliation schedules provided as well as information the Organization received from various vendors subsequent to management?s close of the internal financial statements for 2021. Cause: Management did not record all required journal entries in conjunction with the financial statement close process on a timely basis. Effect: The journal entries impacted several areas of the financial statements and adjusted the change in net assets by an amount that is considered material. Recommendation: We recommend that management evaluate the existing procedures to ensure a timely financial statement close process aligned with CJ Lifecare policies, ensure accurate financial reporting, and consider training to improve financial reporting. Views of responsible officials and planned corrective actions: During 2021, new internal review processes were implemented, including a detailed review of monthly financial statement drafts and a more extensive review of significant and / or high-risk accounts, such as accounts receivable and the related allowance for doubtful accounts. Although new processes were implemented, the Organization?s finance department also underwent significant turnover, which resulted in a period of time during which the Organization?s finance department was short-staffed, consistent with staffing challenges across all industries as a result of the COVID-19 pandemic. Open positions began to be filled in the late fall of 2021, at which time a number of corrections to previously issued internal and audited financial statements were noted and adjusted. During 2022, remaining positions have been filled with highly experienced individuals, including an additional certified public accountant. Additional processes and procedures are also being implemented to ensure that adequate training and review of supporting schedules and monthly financial statements is completed. Management believes that with the implementation of these additional processes and procedures, in addition to additional staffing, material entries will be noted and recorded on a timely basis.

2021 ? 005 Federal Agency: U.S. Department of Health and Human Services Federal Program Name: COVID-19 Provider Relief Fund Assistance Listing Number: 93.498 Award Period: April 10, 2020 through December 31, 2020 Type of Finding: ? Significant Deficiency in Internal Control over Compliance Criteria or specific requirement: COVID-19 Provider Relief Fund terms and conditions require accurate report submissions to the Provider Relief Fund (PRF) Reporting Portal. Condition: For its Period 1 reporting submission, the Organization included approximately $43,000 more of Fringe Benefits expenditures, $4,000 more of Equipment expenditures, and $47,000 less of Supplies expenditures as Other PRF Expenses that its internal records indicate. Total Other PRF Expenses for Period 1 was accurate based on the Organization?s internal records. Questioned costs: None Context: The Organization's intention was to use and report less Fringe Benefits and Equipment expenditures towards PRF funds received for Period 1 reporting and more Supplies expenditures. Cause: The Organization did not have an adequate internal control policy in place to ensure proper review of the report prior to submission. Effect: The Organization?s Period 1 reporting is not accurate and does not match the Organization?s internal records of uses of PRF funding. Repeat Finding: No Recommendation: We recommend that the Organization enhance internal control policies to ensure that reports are reviewed and approved prior to submitting the PRF reporting to the federal agency. Views of responsible officials: The Organization carefully reviewed the expenditures submitted through the Department of Health and Human Services Provider Relief Fund Reporting Portal, however inadvertently used an outdated supporting schedule to input the information into the Reporting Portal, resulting in a mismatch between actual usage and reported usage. It should be noted that although reported inaccurately, all funds expended were used for allowable costs under the program guidance. For future reporting periods, management has reviewed and revised internal reporting schedules utilized in preparing information submitted through the Reporting Portal.

2020 ? 001 Federal agency: U.S. Department of Housing and Urban Development Federal program: Section 232 Mortgage Insurance for Nursing Homes CFDA Number: 14.129 Award Period: 2020 Type of Finding: ? Material Weakness in Internal Control Over Compliance ? Compliance Criteria or specific requirement: HUD guidelines require Project cash to be maintained in financial institutions, which meet minimum GNMA ratings, when balances exceed federal insurance limits. Condition: The Project maintains cash balances in excess of federally insured limits in a financial institution that does not meet HUD guidelines. Questioned costs: None Context: The cash balance at December 31, 2020 was approximately $3.0 million, held in two financial institutions, which exceeded federal insurance limits by approximately $2.5 million. Cause: As the Project is a community based nonprofit organization, management considers supporting a local bank to be a worthwhile endeavor. Effect: No negative effect was discovered during the audit. Repeat finding: Yes, prior year finding 2019-001 Recommendation: The Organization should transfer all funds to a financial institution that meets HUD guidelines.

2020 ? 002 Federal agency: U.S. Department of Housing and Urban Development Federal program: Section 232 Mortgage Insurance for Nursing Homes CFDA Number: 14.129 Award Period: 2020 Type of Finding: ? Material Weakness in Internal Control Over Compliance ? Compliance Criteria or specific requirement: The Project?s Borrower Regulatory Agreement with HUD requires the Project to deposit any excess Surplus Cash into a residual receipts account within ninety days after the end of the annual or semi-annual fiscal period for which Surplus Cash is calculated. Condition: The Project had Surplus Cash as of December 31, 2020 which it had not deposited into a residual receipts account by March 2021. Questioned costs: None Context: The Surplus Cash balance was $622,564 at December 31, 2020. Cause: As the Project had deficiencies in Surplus Cash in all prior periods, management was not expecting a Surplus Cash position as of December 31, 2020 and a residual receipts account was therefore not established. Effect: No negative effect was discovered during the audit. Repeat finding: No Recommendation: Management should deposit the amount of Surplus Cash at December 31, 2020 into a residual receipts account as soon as possible and monitor surplus cash closely during each annual and semi-annual period.

2019 ? 001 Federal agency: U.S. Department of Housing and Urban Development Federal program: Section 232 Mortgage Insurance for Nursing Homes CFDA Number: 14.129 Award Period: 2019 Type of Finding: ? Material Weakness in Internal Control over Compliance ? Compliance Criteria or specific requirement: HUD guidelines require Project cash to be maintained in financial institutions, which meet minimum GNMA ratings, when balances exceed federal insurance limits. Condition: The Project maintains cash balances in excess of federally insured limits in a financial institution that does not meet HUD guidelines. Questioned costs: None Context: The cash balance at December 31, 2019 was approximately $1.4 million, held in two financial institutions, which exceeded federal insurance limits by approximately $900 thousand. Cause: As the Project is a community based nonprofit organization, management considers supporting a local bank to be a worthwhile endeavor. Effect: No negative effect was discovered during the audit. Repeat Finding: Yes, prior year finding 2018-002 Recommendation: The Organization should transfer all funds to a financial institution that meets HUD guidelines. Views of responsible officials and planned corrective actions: Chelsea Jewish Nursing Home is community based nonprofit organization that celebrated its 100- year anniversary at the same address. Management considers supporting local businesses, including a bank, as a worthwhile business practice. However, Chelsea Jewish is currently looking at other scenarios that would involve moving a portion of their funds to another institution.

2019 ? 002 Federal agency: U.S. Department of Housing and Urban Development Federal program: Section 232 Mortgage Insurance for Nursing Homes CFDA Number: 14.129 Award Period: 2019 Type of Finding: ? Significant Deficiency in Internal Control over Compliance ? Compliance Criteria or specific requirement: The Borrower Regulatory Agreement states that "Borrower shall make promptly all payments, including any deposits to required reserves, due under the Loan Documents, including without limitation the Note and the Borrower?s Security Instrument." Condition: The Project made a late mortgage payment on the balance that was due on July 15, 2019. The payment was made on July 17, 2019. This is a violation of the Borrower Regulatory Agreement. Questioned costs: None Context: One mortgage payment of $111,946 was made late out of a total of twelve mortgage payments totaling $1,316,967. Late fees of $1,411 were assessed and paid. Cause: Failure of internal control over mortgage status. Effect: Mortgage payment was late and late fees were also incurred. Repeat Finding: No. Recommendation: The Auditor recommends that management institute controls to ensure all mortgage payments are made timely. Views of responsible officials and planned corrective actions: Personnel turnover in the Accounts Payable department led to the failure of the timely mortgage payment. Management has implemented changes in the Accounts Payable process, and instituted controls to insure that mortgage payments are made timely. The upgrades in to the process implemented in 2019 include: New weekly reports reflecting (1) All due dates for the current and following week, with a ?tag" on critical vendors, including loans; (2) Real-time accounts payable aging by vendor; and (3) Vendors payment selection. A standing weekly meeting attended by the CFO, Senior Director of Finance, Controller, and Account Payables Clerk is held and final payment selections made in advance of check run.

GSA_MIGRATION

GSA_MIGRATION

GSA_MIGRATION

GSA_MIGRATION

GSA_MIGRATION

GSA_MIGRATION