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HACM presents reconciled 2023 financial statements; CFO flags "going concern" cash shortfall and vendor-payment risks
Summary
CFO Brad Kalik presented reconciled financial statements for 2023, disclosed a "going concern" qualification due to current liabilities exceeding current assets, and said the authority made a $500,000 pension payment March 31 while working to prioritize payments to small local vendors.
Brad Kalik, HACM chief financial officer, presented the authority—s reconciled 2023 financial statements to the board on April 9 and outlined a series of steps the finance department has taken to improve controls and reporting.
Kalik told the board auditors have the reconciled statements and are asking follow-up questions. He said the authority has strengthened internal controls and is training finance staff on Yardi, the agency—s accounting and property-management software. Kalik noted the agency made a $500,000 pension payment on March 31, 2025, and described progress…
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