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Controller's audit finds weak oversight of Triangle Parking Lot; restaurant association disputes findings
Summary
The City Controller's office presented a management audit alleging weak Port oversight of the Triangle Parking Lot, missing controls and potential underreported revenue and unsupported expenses totaling about $591,486. The Fisherman's Wharf Restaurant Association called the findings "baseless" and requested the Controller review its records; the Port agreed to pursue a forensic audit and lease solicitation.
The City Controller's office told the Port Commission that a compliance audit of the Triangle Parking Lot management agreement showed multiple control and oversight failures and potential unreported revenue and unsupported expenses.
Tanya Lettishu, Director of Audits for the Controller's office, said the audit examined a sample period that included 4 months of revenue testing and 3 days of 100% expenditure testing and found 1) inadequate Port oversight and no documented property-management policies, 2) the management agreement had not been put through competitive bidding, 3) incomplete supporting documentation for expenses, 4) missing or unreconciled ticket sequences, 5) inadequate validation controls for parking, and 6) commingled business and personal accounts. The audit report presented a summary of amounts the team classified as potentially underreported or…
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