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City Services Auditor reports small unauthorized spending in 2015 affordable housing bond audit
Summary
A CSA audit of the 2015 affordable housing bond tested roughly 75% of expenditures and found about 0.58% ($269,504) in unauthorized charges, mostly classified as overhead or pre-cutoff-date expenses; auditors recommended staff training and reimbursement guidelines.
Mark De La Rosa, Acting Director of Audits in the Controller's Office, and consultant Simon Wadsworth presented the results of the City Services Auditor's audit of the 2015 affordable housing bond. The audit examined expenditures through June 30 and tested roughly three-quarters of the value of reported spending.
Wadsworth said the auditors tested approximately 75% of expenditures and found 99% of sampled expenditures were…
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