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Auditor flags ‘‘going concern’’ for Hudson Housing Authority; board urged to seek emergency funding
Summary
An independent auditor told the Hudson Housing Authority board its management letter raises ‘‘going concern’’ questions after rental income fell and units remained offline; the board was advised to pursue emergency HUD or other funding and to address internal controls.
An independent auditor’s management letter presented April 21 warned that the City of Hudson Housing Authority faces ‘‘going concern’’ issues after a drop in rental income tied to units that cannot be re-rented, the authority’s executive director told the board.
The warning, summarized in a management letter dated March 18, 2025 from Buell, CPA, said that continuing conditions ‘‘raise substantial doubt’’ about the authority’s ability to continue without additional funding. The letter recommended the authority seek emergency funding from the U.S. Department of Housing and Urban Development or other sources.
The manag…
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