method of accounting for investments in local limited partnerships the partnership accounts for its investments in local limited partnerships using the equity method of accounting , whereby the partnership adjusts its investment balance for its share of the local limited partnerships ' results of operations and for any contributions made and distributions received . the partnership reviews the carrying amount of an individual investment in a local limited partnership for possible impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of such investment may not be recoverable . recoverability of such investment is measured by the estimated value derived by management , generally consisting of the product of the remaining future low income housing tax credits estimated to be allocable to the partnership and any estimated residual value to the partnership . if an investment is considered to be impaired , the partnership reduces the carrying value of its investment in any such local limited partnership . the accounting policies of the local limited partnerships , generally , are expected to be consistent with those of the partnership . costs incurred by the partnership in acquiring the investments are capitalized as part of the investment account and were being amortized over 27.5 years ( see notes 2 and 3 to the financial statements ) . “ equity in losses of local limited partnerships ” for each year ended march 31 has been recorded by the partnership based on the twelve months of reported results provided by the local limited partnerships for each year ended december 31. equity in losses from the local limited partnerships allocated to the partnership is not recognized to the extent that the investment balance would be adjusted below zero . if the local limited partnerships report net income in future years , the partnership will resume applying the equity method only after its share of such net income equals the share of net losses not recognized during the period ( s ) the equity method was suspended . distributions received from the local limited partnerships are accounted for as a reduction of the investment balance . distributions received after the investment has reached zero are recognized as distribution income . in accordance with the accounting guidance for the consolidation of variable interest entities , the partnership determines when it should include the assets , liabilities , and activities of a variable interest entity ( vie ) in its financial statements , and when it should disclose information about its relationship with a vie . the analysis that must be performed to determine which entity should consolidate a vie focuses on control and economic factors . a vie is a legal structure used to conduct activities or hold assets , which must be consolidated by a company if it is the primary beneficiary because it has ( 1 ) the power to direct the activities of the vie that most significantly impact the vie 's economic performance and ( 2 ) the obligation to absorb losses or receive benefits that could potentially be significant to the vie . if multiple unrelated parties share such power , as defined , no party will be required to consolidate the vie . further , the guidance requires continual reconsideration of the primary beneficiary of a vie . based on this guidance , the local limited partnerships in which the partnership invests meet the definition of a vie because the owners of the equity at risk in these entities do not have the power to direct their operations . however , management does not consolidate the partnership 's interests in these vies , as it is not considered to be the primary beneficiary since it does not have the power to direct the activities that are considered most significant to the economic performance of these entities . the partnership currently records the amount of its investment in these local limited partnerships as an asset on its balance sheets , recognizes its share of partnership income or losses in the statements of operations , and discloses how it accounts for material types of these investments in its financial statements . the partnership 's balance in investment in local limited partnerships , plus the risk of recapture of tax credits previously recognized on these investments , represents its maximum exposure to loss . the partnership 's exposure to loss on these local limited partnerships is mitigated by the condition and financial performance of the underlying housing complexes as well as the strength of the local general partners and their guarantee against credit recapture to the investors in the partnership . 22 income taxes the partnership has elected to be treated as a pass-through entity for income tax purposes and , as such , is not subject to income taxes . rather , all items of taxable income , deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns . the partnership 's federal tax status as a pass-through entity is based on its legal status as a partnership . accordingly , the partnership is not required to take any tax positions in order to qualify as a pass-through entity . the partnership is required to file and does file tax returns with the internal revenue service and other taxing authorities . accordingly , these financial statements do not reflect a provision for income taxes and the partnership has no other tax positions which must be considered for disclosure . income tax returns filed by the partnership are subject to examination by the internal revenue service for a period of three years . while no income tax returns are currently being examined by the internal revenue service , tax years since 2014 remain open . story_separator_special_tag there was a decrease in accounting and legal fees of $ 89,000 for the year ended march 31 , 2018 compared to the year ended march 31 , 2017 due to timing of services and payments . asset management fees decreased by $ 2,000 during the year ended march 31 , 2018. the fees are calculated based on the value of invested assets , which decreased due to the sales of local limited partnerships . the write off of other assets decreased by $ 3,000 during the year ended march 31 , 2018. capitalized costs from potential disposition of local limited partnerships were expensed due to the length of time it had taken to dispose of the properties . other expenses decreased by $ 23,000 during the year ended march 31 , 2018 , mainly due to tax and license expenses incurred during the year ended march 31 , 2017. equity in losses decreased by $ 17,000 for the year ended march 31 , 2018 due to operations of the underlying housing complexes fluctuating form period to period . reporting fees decreased by $ 1,000 and distribution income increased by $ 5,000 for the year ended march 31 , 2018. local limited partnerships pay reporting fees and distributions to the partnership when the local limited partnerships ' cash flows will allow for the payment . year ended march 31 , 2017 compared to year ended march 31 , 2016 the partnership 's net loss for the year ended march 31 , 2017 was $ 1,192,000 , reflecting a decrease of $ 1,617,000 from the net income for the year ended march 31 , 2016 of $ 425,000. the decrease in net income is partially due to a $ 1,486,000 decrease in other income for the year ended march 31 , 2017. the partnership received $ 1,300,000 from insurance proceeds related to a litigation settlement , and $ 186,000 from the release of an escrow account from the sale of a local limited partnership during the year ended march 31 , 2016 compared to no other income recorded for the year ended march 31 , 2017. gain on sale of local limited partnerships decreased by $ 1,160,000 for the year ended march 31 , 2017. the gain and loss on sale of local limited partnerships will vary from period to period depending on the values and sale prices of the housing complexes that have been identified for disposition and the closing dates of such transactions . write off of advances to local limited partnerships decreased by $ 229,000 for the year ended march 31 , 2017 compared to the year ended march 31 , 2016. the advances made to local limited partnerships , and the probability of collection , can vary each period depending on the operations of the individual local limited partnerships . additionally , impairment loss decreased by $ 349,000 for the year ended march 31 , 2017. impairment loss varies from year to year depending on the operations of the local limited partnerships and the amount of low income housing tax credits that are allocated each year to the partnership . there was a decrease in accounting and legal fees of $ 213,000 for the year ended march 31 , 2017 compared to the year ended march 31 , 2016 due to timing of services and payments . asset management fees decreased by $ 44,000 during the year ended march 31 , 2017. the fees are calculated based on the value of invested assets , which decreased due to the sales of local limited partnerships . also , amortization decreased by $ 2,000 during the year ended march 31 , 2017 due to the fact that intangibles were fully impaired during the first quarter , therefore , no future amortization expense recorded . asset management expenses decreased by $ 6,000 during the year ended march 31 , 2017. the asset management expenses vary from period to period depending on the number of site visits to the local limited partnerships from asset managers during the year . the write off of other assets increased by $ 3,000 during the year ended march 31 , 2017. capitalized costs from potential disposition of local limited partnerships were expensed due to the length of time it has taken to dispose of the properties . other expenses decreased by $ 205,000 during the year ended march 31 , 2017 , mainly due to consulting and tax expenses incurred for pleasant village during the year ended march 31 , 2016. equity in losses decreased by $ 33,000 for the year ended march 31 , 2017 due to operations of the underlying housing complexes fluctuating form period to period . reporting fees decreased by $ 10,000 and distribution income decreased by $ 39,000 for the year ended march 31 , 2017. local limited partnerships pay reporting fees and distributions to the partnership when the local limited partnerships ' cash flows will allow for the payment . 24 story_separator_special_tag margin-left : 0px ; margin-right : 0px ; text-indent : 0px `` > as of march 31 , 2018 , the property is on the watch list due to a low year-to-date dcr , and low replacement reserves . operating expenses have exceeded the budget by $ 10,340 , due to unanticipated landscaping expense due to damage from a storm in august . the property management agent continues to gradually raise rents , and property performance is trending in a positive direction . due to the small size of the property , any unanticipated expenses can negatively impact operations and financial performance . the local general partner entity and its managing member have provided operating deficit and tax credit guarantees . the guarantor has met its operating deficit obligation pursuant to the lower tier partnership agreement , and the tax credit guaranty remains in place . grove village limited partnership and pleasant village limited partnership were disposed of during the year ended march 31 , 2016. these

liquidity and capital resources year ended march 31 , 2018 compared to year ended march 31 , 2017 the net increase in cash and cash equivalents during the year ended march 31 , 2018 was $ 33,000 compared to a net decrease in cash and cash equivalents during the year ended march 31 , 2017 of $ 43,000. the partnership received $ 51,000 of state tax refund from tax overpayment , and $ 59,000 from the final release of an escrow account related to the disposition of a local limited partnership during the year ended march 31 , 2018 , the partnership paid $ 97,000 in accrued asset management fees and $ 29,000 to the general partner or an affiliate for operating expenses paid on its behalf during the year ended march 31 , 2018 , compared to $ 0 , and $ 21,000 , respectively , during the year ended march 31 , 2017. during the year ended march 31 , 2018 , the partnership received $ 4,000 in reporting fees and $ 5,000 in distributions compared to $ 5,000 and $ 0 , respectively , received during the year ended march 31 , 2017. the local limited partnerships pay the reporting fees and distributions to the partnership when the local limited partnerships ' cash flows will allow for payments . additionally , during year ended march 31 , 2018 , the partnership received $ 37,000 in net proceeds from sale of local limited partners .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources year ended march 31 , 2018 compared to year ended march 31 , 2017 the net increase in cash and cash equivalents during the year ended march 31 , 2018 was $ 33,000 compared to a net decrease in cash and cash equivalents during the year ended march 31 , 2017 of $ 43,000. the partnership received $ 51,000 of state tax refund from tax overpayment , and $ 59,000 from the final release of an escrow account related to the disposition of a local limited partnership during the year ended march 31 , 2018 , the partnership paid $ 97,000 in accrued asset management fees and $ 29,000 to the general partner or an affiliate for operating expenses paid on its behalf during the year ended march 31 , 2018 , compared to $ 0 , and $ 21,000 , respectively , during the year ended march 31 , 2017. during the year ended march 31 , 2018 , the partnership received $ 4,000 in reporting fees and $ 5,000 in distributions compared to $ 5,000 and $ 0 , respectively , received during the year ended march 31 , 2017. the local limited partnerships pay the reporting fees and distributions to the partnership when the local limited partnerships ' cash flows will allow for payments . additionally , during year ended march 31 , 2018 , the partnership received $ 37,000 in net proceeds from sale of local limited partners .
```    
 Suspicious Activity Report : method of accounting for investments in local limited partnerships the partnership accounts for its investments in local limited partnerships using the equity method of accounting , whereby the partnership adjusts its investment balance for its share of the local limited partnerships ' results of operations and for any contributions made and distributions received . the partnership reviews the carrying amount of an individual investment in a local limited partnership for possible impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of such investment may not be recoverable . recoverability of such investment is measured by the estimated value derived by management , generally consisting of the product of the remaining future low income housing tax credits estimated to be allocable to the partnership and any estimated residual value to the partnership . if an investment is considered to be impaired , the partnership reduces the carrying value of its investment in any such local limited partnership . the accounting policies of the local limited partnerships , generally , are expected to be consistent with those of the partnership . costs incurred by the partnership in acquiring the investments are capitalized as part of the investment account and were being amortized over 27.5 years ( see notes 2 and 3 to the financial statements ) . “ equity in losses of local limited partnerships ” for each year ended march 31 has been recorded by the partnership based on the twelve months of reported results provided by the local limited partnerships for each year ended december 31. equity in losses from the local limited partnerships allocated to the partnership is not recognized to the extent that the investment balance would be adjusted below zero . if the local limited partnerships report net income in future years , the partnership will resume applying the equity method only after its share of such net income equals the share of net losses not recognized during the period ( s ) the equity method was suspended . distributions received from the local limited partnerships are accounted for as a reduction of the investment balance . distributions received after the investment has reached zero are recognized as distribution income . in accordance with the accounting guidance for the consolidation of variable interest entities , the partnership determines when it should include the assets , liabilities , and activities of a variable interest entity ( vie ) in its financial statements , and when it should disclose information about its relationship with a vie . the analysis that must be performed to determine which entity should consolidate a vie focuses on control and economic factors . a vie is a legal structure used to conduct activities or hold assets , which must be consolidated by a company if it is the primary beneficiary because it has ( 1 ) the power to direct the activities of the vie that most significantly impact the vie 's economic performance and ( 2 ) the obligation to absorb losses or receive benefits that could potentially be significant to the vie . if multiple unrelated parties share such power , as defined , no party will be required to consolidate the vie . further , the guidance requires continual reconsideration of the primary beneficiary of a vie . based on this guidance , the local limited partnerships in which the partnership invests meet the definition of a vie because the owners of the equity at risk in these entities do not have the power to direct their operations . however , management does not consolidate the partnership 's interests in these vies , as it is not considered to be the primary beneficiary since it does not have the power to direct the activities that are considered most significant to the economic performance of these entities . the partnership currently records the amount of its investment in these local limited partnerships as an asset on its balance sheets , recognizes its share of partnership income or losses in the statements of operations , and discloses how it accounts for material types of these investments in its financial statements . the partnership 's balance in investment in local limited partnerships , plus the risk of recapture of tax credits previously recognized on these investments , represents its maximum exposure to loss . the partnership 's exposure to loss on these local limited partnerships is mitigated by the condition and financial performance of the underlying housing complexes as well as the strength of the local general partners and their guarantee against credit recapture to the investors in the partnership . 22 income taxes the partnership has elected to be treated as a pass-through entity for income tax purposes and , as such , is not subject to income taxes . rather , all items of taxable income , deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns . the partnership 's federal tax status as a pass-through entity is based on its legal status as a partnership . accordingly , the partnership is not required to take any tax positions in order to qualify as a pass-through entity . the partnership is required to file and does file tax returns with the internal revenue service and other taxing authorities . accordingly , these financial statements do not reflect a provision for income taxes and the partnership has no other tax positions which must be considered for disclosure . income tax returns filed by the partnership are subject to examination by the internal revenue service for a period of three years . while no income tax returns are currently being examined by the internal revenue service , tax years since 2014 remain open . story_separator_special_tag there was a decrease in accounting and legal fees of $ 89,000 for the year ended march 31 , 2018 compared to the year ended march 31 , 2017 due to timing of services and payments . asset management fees decreased by $ 2,000 during the year ended march 31 , 2018. the fees are calculated based on the value of invested assets , which decreased due to the sales of local limited partnerships . the write off of other assets decreased by $ 3,000 during the year ended march 31 , 2018. capitalized costs from potential disposition of local limited partnerships were expensed due to the length of time it had taken to dispose of the properties . other expenses decreased by $ 23,000 during the year ended march 31 , 2018 , mainly due to tax and license expenses incurred during the year ended march 31 , 2017. equity in losses decreased by $ 17,000 for the year ended march 31 , 2018 due to operations of the underlying housing complexes fluctuating form period to period . reporting fees decreased by $ 1,000 and distribution income increased by $ 5,000 for the year ended march 31 , 2018. local limited partnerships pay reporting fees and distributions to the partnership when the local limited partnerships ' cash flows will allow for the payment . year ended march 31 , 2017 compared to year ended march 31 , 2016 the partnership 's net loss for the year ended march 31 , 2017 was $ 1,192,000 , reflecting a decrease of $ 1,617,000 from the net income for the year ended march 31 , 2016 of $ 425,000. the decrease in net income is partially due to a $ 1,486,000 decrease in other income for the year ended march 31 , 2017. the partnership received $ 1,300,000 from insurance proceeds related to a litigation settlement , and $ 186,000 from the release of an escrow account from the sale of a local limited partnership during the year ended march 31 , 2016 compared to no other income recorded for the year ended march 31 , 2017. gain on sale of local limited partnerships decreased by $ 1,160,000 for the year ended march 31 , 2017. the gain and loss on sale of local limited partnerships will vary from period to period depending on the values and sale prices of the housing complexes that have been identified for disposition and the closing dates of such transactions . write off of advances to local limited partnerships decreased by $ 229,000 for the year ended march 31 , 2017 compared to the year ended march 31 , 2016. the advances made to local limited partnerships , and the probability of collection , can vary each period depending on the operations of the individual local limited partnerships . additionally , impairment loss decreased by $ 349,000 for the year ended march 31 , 2017. impairment loss varies from year to year depending on the operations of the local limited partnerships and the amount of low income housing tax credits that are allocated each year to the partnership . there was a decrease in accounting and legal fees of $ 213,000 for the year ended march 31 , 2017 compared to the year ended march 31 , 2016 due to timing of services and payments . asset management fees decreased by $ 44,000 during the year ended march 31 , 2017. the fees are calculated based on the value of invested assets , which decreased due to the sales of local limited partnerships . also , amortization decreased by $ 2,000 during the year ended march 31 , 2017 due to the fact that intangibles were fully impaired during the first quarter , therefore , no future amortization expense recorded . asset management expenses decreased by $ 6,000 during the year ended march 31 , 2017. the asset management expenses vary from period to period depending on the number of site visits to the local limited partnerships from asset managers during the year . the write off of other assets increased by $ 3,000 during the year ended march 31 , 2017. capitalized costs from potential disposition of local limited partnerships were expensed due to the length of time it has taken to dispose of the properties . other expenses decreased by $ 205,000 during the year ended march 31 , 2017 , mainly due to consulting and tax expenses incurred for pleasant village during the year ended march 31 , 2016. equity in losses decreased by $ 33,000 for the year ended march 31 , 2017 due to operations of the underlying housing complexes fluctuating form period to period . reporting fees decreased by $ 10,000 and distribution income decreased by $ 39,000 for the year ended march 31 , 2017. local limited partnerships pay reporting fees and distributions to the partnership when the local limited partnerships ' cash flows will allow for the payment . 24 story_separator_special_tag margin-left : 0px ; margin-right : 0px ; text-indent : 0px `` > as of march 31 , 2018 , the property is on the watch list due to a low year-to-date dcr , and low replacement reserves . operating expenses have exceeded the budget by $ 10,340 , due to unanticipated landscaping expense due to damage from a storm in august . the property management agent continues to gradually raise rents , and property performance is trending in a positive direction . due to the small size of the property , any unanticipated expenses can negatively impact operations and financial performance . the local general partner entity and its managing member have provided operating deficit and tax credit guarantees . the guarantor has met its operating deficit obligation pursuant to the lower tier partnership agreement , and the tax credit guaranty remains in place . grove village limited partnership and pleasant village limited partnership were disposed of during the year ended march 31 , 2016. these

