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Sheridan Housing Authority audit returns clean opinion; staff to submit to HUD
Summary
Haney & Company reported a clean (unmodified) opinion for the Sheridan Housing Authority 2025 audit; auditors flagged no findings or disagreements and staff will submit the audit to HUD and forward supporting materials to the city for its audit work.
Auditors from Haney & Company told the Sheridan City Council and Housing Authority board that the 2025 audit returned a clean, unmodified opinion with no findings, uncorrected adjustments, or identified instances of fraud.
Brent Stratton summarized balance‑sheet movements: total assets decreased by about $33,000 driven largely by a net cash decrease and a roughly $21,000 reduction in accounts receivable; current liabilities decreased by about $26,000. He emphasized program management: "So the Section 8 program is a use‑it‑or‑lose‑it type of program" and advised staff to monitor HUD funding timing because delays can have rapid operational effects. Auditors provided a standard required‑communication letter; staff said, once approved, the audit will be submitted to HUD through the agency's reporting system.
Council moved to approve the audit and directed staff to finalize the resolution and processing steps. Separately, staff reported the housing authority has a positive reconciled net position for now, will calculate and transfer roughly six months of management fees (~$90,000) owed to Inglewood Housing Authority, and noted a wait list of 652 currently closed to new pulls due to budget authority limits.
