Finding Text
Criteria:The Authority is required to retain documentation used in the calculation of the utility expense level that is used to calculate the utility portion of the operating fund subsidy.Condition:For the funding period 2024, no documentation was available to test the actual consumption of the utilities for the applicable period (July 1, 2022 – June 30, 2023).Effect:Lack of proper documentation could lead to an improper operating fund subsidy calculation. Cause:Lack of oversight by management and the Board.Recommendation:Documentation should be maintained for all utility payments made to ensure that the proper utility expense level for the operating fund subsidy is correct.Views of Responsible Officials and Planned Corrective Actions:We agree with the auditors' comments, and the following action will be taken to improve the situation. This situation was created when the previous administration failed to maintain proper records on utility consumption.Currently, the Authority is tracking all utility consumption for future OpFund application.