TO: Chair and Housing Authority Commissioners
THROUGH: Steve Powers, Executive Director
FROM: Andrew Wilch, Housing Administrator
SUBJECT:
title
Independent Financial Audit Report for the Fiscal Year ending September 30, 2017
Ward(s): All Wards
Commissioners(s): All Commissioners
Neighborhood(s): All Neighborhoods
end
ISSUE:
Shall the Authority receive and accept the Salem Housing Authority’s Independent Financial Audit Report for the fiscal year ending September 30, 2017?
RECOMMENDATION:
recommendation
Adopt Resolution No. 2229 to receive and accept the Salem Housing Authority’s Independent Financial Audit Report for the fiscal year ending September 30, 2017.
body
SUMMARY AND BACKGROUND:
The Salem Housing Authority (SHA) engages in a series of annual audits to review all agency housing programs and properties and to monitor the overall financial condition of the Authority.
The auditor’s reported opinion of both the financial statements and compliance for major programs is “Unmodified” and all information “is fairly stated”. There were no findings, material weaknesses, and/or significant deficiencies identified.
The audit was conducted in accordance with standards generally accepted and applicable to government auditing. These standards mandate auditors to obtain reasonable assurance that SHA’s financial statements are free from material misstatement. The independent auditors are required to conduct compliance reviews of the Authority's internal control structure and ensure compliance with federal regulations.
FACTS AND FINDINGS:
The audit includes an examination of the SHA records for tenant eligibility, types of services to clients that were approved or denied, accuracy of program reporting, accuracy of claims for financial advances and reimbursements, and the Authority's Public Housing Assessment System (PHAS) financial data reporting.
The independent audit report for the SHA's fiscal year that began October 1, 2016, and ended September 30, 2017, covers Public Housing, Housing Choice Vouchers and Moderate Rehabilitation subsidies, locally owned units of non-subsidized housing, the Security Deposit housing assistance program, the Capital Fund Grant, and supportive service grant programs
Project-specific audits are conducted according to a separate reporting timeline and are not included in this report.
Andrew Wilch
Housing Administrator
Attachments:
1. Resolution No. 2229
2. SHA Audited Financials & Report FYE September 30, 2017