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Audit flags Marina Yacht Harbor Fund accounting problems; tenants’ association disputes numbers and seeks repayment
Summary
A Budget Analyst report found decentralized revenue tracking, timeliness and reconciliation gaps, electricity double-charging and unclear labor allocations in the Marina Yacht Harbor Fund and proposed 21 recommendations expected to yield about $100,000/year if implemented; Marina users claim a $622,000 double-charge and want the money returned, a figure the analyst disputes.
The Audit & Oversight Committee held an extended hearing on May 5 on a management audit of the Marina Yacht Harbor Fund that identified four findings and 21 recommendations intended to strengthen revenue tracking, budgetary controls and project accounting.
Sevin Campbell of the Budget Analyst’s Office summarized the audit and told the committee the Marina’s revenue management is decentralized across up to 10 systems, including manual ledgers and Excel files, and that the fund’s temporary and miscellaneous berth fees (roughly $280,000 per year) were handled in cash without a formal receipt system. Campbell recommended automating revenue collection via full implementation of the CLASS cash-management system and…
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