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Finance reports clean audits for two properties and a small early-year budget variance
Summary
Finance staff said audits for South 1st Street Phase 1 and Crescent Hall were clean and that early budget-to-actuals show only about a 5% variance across public housing, with reduced expenses attributed to tighter purchase-order controls.
The finance representative told the board that audits for South 1st Street Phase 1 and Crescent Hall were completed and were clean with no issues. The staff member said these audit results show compliance at the property level.
The finance update also noted that, after the first quarter of the fiscal year, budget-to-actual comparisons show roughly a 5% total variance across public housing; staff attributed improved performance in some properties and reductions in expenses to closer controls on purchasing and maintenance.
