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Board flags accounting discrepancies and schedules line‑by‑line review with new accountant
Summary
At the Nov. 11 meeting the housing authority reported August financials showing operating income and expenses, raised concerns about ledger changes after switching accounting firms, and scheduled a follow‑up review with the new accountant to resolve discrepancies.
The board discussed financial statements and directed staff to resolve unexplained ledger activity after the authority switched to a new accounting firm.
Executive Director Teresa presented August financials, saying public housing operating income was $233,837.77 with expenses of $432,786.13 and a year‑to‑date balance for five months of $25,754.13. She reported a bank balance of about $1,628,000 as of August and capital fund program balances (approximately $297,168 for 2023 and $349,687 for 2024) and said staff plan to request a budget revision to move funds from operating to demolition.
Board member Rosemary and others pointed to what they described as unusual ledger entries and a reported five‑month actual that exceeded the annual budget in some categories; Rosemary asked for a line‑by‑line meeting with the new accountant (Miss English) to reconcile entries. Teresa said that meeting is scheduled and that she, Rosemary and others will review the details with the accountant.
The board emphasized fiduciary oversight and scheduled a more detailed budget workshop in the months ahead (Teresa suggested a fuller review in February). No formal financial actions were voted at the Nov. 11 meeting; staff committed to report back after reconciling discrepancies.
