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GAO reviews CBD annual reports; OEWD finds four districts met reporting benchmarks
Summary
The committee received Office of Economic & Workforce Development and community benefit district (CBD) directors’ annual reports for Civic Center, Mid Market, Tenderloin, and East Cut; OEWD found each met four review benchmarks but flagged delayed reporting in the Tenderloin due to bookkeeping changes during the pandemic.
At a joint presentation May 5, the Office of Economic & Workforce Development told the Government Audit & Oversight Committee that four Community Benefit Districts met OEWD’s review benchmarks for their annual reports and CPAs, while offering recommendations tied mostly to administrative practices.
Chris Korgas of OEWD summarized the four benchmarks: budget alignment with each district’s management plan; confirmation that non‑assessment revenue obligations were met; verification of acceptable variances between budgeted and actuals; and…
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