METAIRIE MANOR

REQUIRED MONTHLY DEPOSITS TO THE REPLACEMENT RESERVE ARE DEFICIENT IN THE AMOUNT OF $148,765.

Finding Reference Number: 2022-001 Type of Finding: FA Finding Resolution Status: In Process 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 restricted funds may only be made after receiving written consent from HUD. Statement of Condition: HUD approval was not granted for disbursements from the Debt Service Savings account. Cause: HUD approval was not requested until after the audit period. Effect or Potential Effect: The restricted account is underfunded by the amount of the withdrawal. Auditor Non-Compliance Code: Z Questioned Costs: None Reporting Views of Responsible Officials: Management agrees with the finding. Management has submitted the forms for HUD?s approval. Context: HUD approval was not granted for disbursements from the restricted accounts. Recommendation: Management should submit Form 9250 to the HUD project manager for approval. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. Management has submitted the forms for HUD?s approval. Response Indicator: Agree Completion Date: June 22, 2022 Response: Management agrees with the finding. Management has submitted the forms for HUD?s approval.

Finding Reference Number: 2020-001 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: The regulatory agreement (as amended) requires monthly deposits of $13,715. Statement of Condition: Required monthly deposits to the replacement reserve are deficient in the amount of $2,011. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: LHC was late in approving OCAF package due to insufficient government funding, however, management agrees with the finding. The replacement reserve deficiency was funded on May 8, 2020 in the amount of $2,011. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $2,011. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency was funded on May 8, 2020 in the amount of $2,011. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: May 8, 2020 Response: Management agrees with the finding. The replacement reserve deficiency was funded on May 8, 2020 in the amount of $2,011. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.

GSA_MIGRATION