Levelland Housing Authority Approves Audit

letstalkThe Levelland Housing Authority met Tuesday afternoon in a special meeting.  They received a presentation from David Boring, CPA on the 2017 fiscal year audit for the authority.  Boring said the audit did not have any weaknesses, however, their were some significant deficiencies which do not affect the audit.  It was a clean audit, however, it did show a significant decline in the net position.

The Levelland Housing Authority reported a net loss of $47,706 in fiscal year 2017.  Total revenue decreased by nine percent while total expenses increased by six percent, indicating a 14% decrease in the net position of the authority.  Some of the findings include misspent federal dollars by an employee who has since left the housing authority, they are reportedly, in the process of paying back that money.  There was also miscalculations in employee payroll benefits, as it pertains to vacation and sick leave.  The authority is currently making corrections for that item.  The auditor also noted that renovations to housing units was only being expended out, however, he noted that the correction was made to also include as Capital improvements and depreciate properly.

The housing authority also received a brief update on the possibility of entering into a management contract with a third party.  The staff is currently working with the federal government on the best way to accomplish this, they also are working to get HUD funding restored for the housing authority.

The board also approved naming Erik Rejino as Interim Executive Director upon the retirement of Rick Osburn.

 

Advertisements

About KLVT News

News Director for KLVT AM 1230 in Levelland. We provide local and regional news updates 5 times a day on KLVT AM 1230 and online at www.klvtradio.com
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s