Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Forensic audit finds nearly $460,000 in questioned costs; board to submit report to HUD
Summary
Auditors from Barry Dunn told the Fayetteville Housing Authority board their seven‑year forensic sample identified specific unsupported transactions and allocation errors that extrapolate to just under $460,000 in questioned costs; staff said the draft will be finalized and submitted to HUD after the board accepts the audit.
Auditors from Barry Dunn presented a forensic audit to the Fayetteville Housing Authority board, saying sample testing across seven years produced transaction-level exceptions that extrapolate to just under $460,000 in questioned costs.
The auditors told the board they tested 25 transactions per year (175 total). Jason Veil, who led the field work, said five selections lacked invoice support (about $35,000), three allocations had no supporting methodology (just under $32,000), three expenditures were booked in the wrong fiscal year (about $26,000) and one tested item showed no evidence of supervisory review. ‘‘When we extrapolated the deviation rate across the full…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
