TO: Chair and Housing Authority Commissioners
THROUGH: Steve Powers, Executive Director
FROM: Nicole Utz, AIC Administrator
SUBJECT:
title
Independent Financial Audit Report for the Fiscal Year ending September 30, 2018
Ward(s): All Wards
Commissioners(s): All Commissioners
Neighborhood(s): All Neighborhoods
Result Area(s): Safe Community; Welcoming and Livable Community.
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ISSUE:
Shall the Commission receive and accept the Salem Housing Authority’s Independent Financial Audit Report for the fiscal year ending September 30, 2018?
RECOMMENDATION:
recommendation
Adopt Resolution No. 2244 (Attachment 1) to receive and accept the Salem Housing Authority’s Independent Financial Audit Report for the fiscal year ending September 30, 2018.
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SUMMARY:
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, 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, 2017, and ended September 30, 2018, 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. (Attachment 2 - Exhibit 1 to Resolution No. 2244)
Project-specific audits are conducted according to a separate reporting timeline and are not included in this report.
Nicole Utz
AIC Housing Administrator
Attachments:
1. Resolution No. 2244
2. SHA Audited Financials & Report FYE September 30, 2018