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Housing authority reports positive finances and audit with no findings
Summary
Board reviewed financial statements across programs — public housing, Section 8, open market and development corp — and the chair reported an audit with no findings, praising staff for comprehensive reporting.
Board members reviewed financial statements for multiple programs and praised staff for thorough reporting; the meeting also featured an audit report with no findings.
Director Theresa Pope walked the board through program-by-program summaries for January, reporting operating revenues, expenses, net income and bank balances for public housing, Section 8, the open market program and the development corporation. For example, she reported public-housing operating revenue and net income figures and confirmed investment CDs totaling $200,000 across programs. Section 8 reserves, bank balances and a $550,000 investment at 5% were also reported.
Chair (speaker 1) closed the meeting by noting the audit report and complimenting staff: he said he was “really pleased to see that there were no findings anywhere” and praised Theresa Pope and staff for management and comprehensive notes. Staff also noted a minor formula error on a March column that was removed and will be reissued; Theresa said she will email corrected summary sheets to board members.
The board did not take additional action on financial items during the meeting; staff will continue to present updated reports at future board and budget meetings.
