Purpose of Audit

The purpose of our audit was to assess the Authority's internal controls over tenant rents for the period April 1, 2013 through August 31, 2014.

Background

The Glens Falls Housing Authority is located in the City of Glens Falls in Warren County. The Authority, which is governed by a seven-member Board of Commissioners, was established pursuant to New York State Public Housing Law to provide low rent housing for qualified individuals. Operating expenditures for 2014 totaled approximately $5.7 million.

Key Findings

• Duties for processing tenant rents were not adequately segregated and compensating controls were insufficient.
• Rent money was not adequately secured and was not always deposited in a timely manner.
• Receipts for rent were not issued to apartment complex tenants.

Key Recommendations

• Properly segregate the duties for tenant rent collection among the office employees or provide additional management oversight.
• Ensure the timely deposit of tenant rents and that the clerk’s file cabinet is securely locked.
• Ensure that receipts are issued for all tenant rents collected.