Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Audit: financial statements materially correct but housing authority has limited liquid reserves
Summary
Auditor Pat Buell reported the Hudson Housing Authority—s financial statements are materially correct, with no internal control deficiencies, but flagged a going-concern cash shortfall driven by offline units and restricted voucher funds.
Pat Buell, the auditor from BOCPA, reported to the Hudson Housing Authority that the authority—s financial statements are materially correct but identified ongoing cash-flow constraints and a going-concern qualification tied to restricted funds and units that are offline.
Buell told the authority, “Your financials are materially correct,” and said the audit includes a going‑concern qualification related to cash flow and revenue lost from offline apartments. He reported the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
