Finding Text
Statement of Condition – For the Low Rent Public Housing Program, we reviewed the budget for spending authorizations. During this review, it was discovered that the Authority had not budgeted for $23,494 in program expenditures for the year ended March 31, 2025. This resulted in unfavorable budget variances within the program. Criteria – NC General Statutes require that the Authority budget appropriately for all expenditures. Effect – This violation resulted in overspending in budgeted line appropriations. Cause – The Authority did not follow proper budgeting procedures. Recommendation – The Authority should review budget versus actual expenditures on a regular basis and should amend the budget as spending needs arise. Before an obligation is incurred that will exceed the amount that was previously approved in the budget ordinance, an amendment to the budget should be adopted. Views of responsible officials and planned corrective actions – The Authority agrees with this finding. Please refer to the corrective action plan on page 100.