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CFO presents 2024 financial statements, warns of ongoing liquidity pressure and urges finance/audit subcommittee
Summary
HACM Chief Financial Officer Brad Leakes presented the authority's 2024 financial statements, described a continuing going‑concern and liquidity pressure, said reserves are negative and urged creation of a finance/audit subcommittee and further scrutiny of scattered‑site costs and development fees.
Brad Leakes, HACM chief financial officer, presented the authority’s 2024 financial statements to the board on Sept. 10, described continuing liquidity constraints and urged formation of a board finance and audit subcommittee to oversee remediation and recovery work.
Leakes told the board that while some assets — notably three market‑rate developments referred to in discussion as major revenue generators — have produced positive…
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