SOUTHWEST FLORIDA GWI HOUSING IV, INC. (GLENDALE VILLAGE)

Finding Reference Number: 2019-001 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: According to the regulatory agreement, disbursements from Replacement Reserve may only be made after receiving written consent from HUD. Statement of Condition: HUD approval was not granted for total disbursement of $3,895. The approved amount of disbursement was $3,875. Cause: The amount withdrawn exceeded the HUD-approved amount. Effect or Potential Effect: The restricted account is underfunded by $20. Auditor Non-Compliance Code: A Questioned Costs: None Reporting Views of Responsible Officials: Management agrees with the finding. Management has deposited $20 into the Replacement Reserve account as of February 12, 2020. Context: The amount withdrawn exceeded the HUD-approved amount. Recommendation: Management should reimburse the account for $20. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. Management has deposited $20 into the Replacement Reserve account as of February 12, 2020. Response Indicator: Agree Completion Date: February 12, 2020 Response: Management agrees with the finding. Management has deposited $20 into the Replacement Reserve account as of February 12, 2020.

Finding Reference Number: 2019-001 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. Management has deposited $20 into the Replacement Reserve account as of February 12, 2020. Completion Date: February 12, 2020