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FY2022 audit: unmodified opinion on statements, but material weaknesses flagged for public-housing and HCV programs
Summary
The FY2022 financial audit delivered an unmodified opinion on SFHA's financial statements while the single-audit identified two material weaknesses (public housing and HCV) and one significant deficiency (mod rehab); auditors noted SFHA's heavy reliance on HUD funding (~96%).
An audit manager presenting the FY2022 audit results told the Housing Authority Board that the financial statements received an unmodified opinion but the single-audit identified serious compliance-control issues in two areas.
Scott, the audit manager, said the independent audit concluded the statements "are fairly presented in all material respects in…
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