News From Terre Haute, Indiana

Local & Bistate

February 26, 2013

Housing Authority audit results in good ‘report card’

TERRE HAUTE — After some rocky years, the Terre Haute Housing Authority, which provides federally subsidized housing for about 2,000 area families, has received a third-consecutive trouble-free annual, independent audit.

Rich Larsen, a partner with the New Jersey-based accounting firm of Fallon & Larsen, told authority board members Monday evening the audit for the fiscal year ending last September showed the agency in full compliance with U.S. Department of Housing and Urban Development regulations. He also said the agency is financially strong.

“You’re very well capitalized,” Larsen told board members and Jeff Stewart, the authority’s executive director. “This is a good report.”

Larsen said the Terre Haute Housing Authority has managed its finances well in the past several years, placing itself in a good position to withstand widely anticipated cuts in federal funding.

He also said more than half of the housing authorities his firm audits have come in with compliance problems.

“They compare very well to their peers,” Larsen said after his report to board members.

This is the third year in a row Fallon & Larsen has audited the Terre Haute Housing Authority and each time the agency has been “solid,” Larsen said.

In 2008, HUD classified the Terre Haute Housing Authority as “troubled” due to scoring a zero in the financial portion of its 2006-07 annual audit. At the time, of about 3,400 public housing authorities in the U.S., only about 250 or 300 were regarded as “troubled,” a HUD official told the Tribune-Star at the time. Two years later, HUD audits stated the Terre Haute Housing Authority was falling short in several areas, including capital fund management and following HUD program requirements.

“This is our report card,” executive director Steward, who took over the multi-million-dollar agency in 2008, said after hearing the latest favorable audit Monday evening. “The [housing authority] staff in general does a great job” making sure HUD guidelines are followed, he said.

Reporter Arthur Foulkes can be reached at 812-231-4232 or arthur.foulkes@tribstar.com

 

1
Text Only | Photo Reprints
Local & Bistate
Latest News
TribStar.com Poll
AP Video
Netanyahu Vows to Destroy Hamas Tunnels Ravens' Ray Rice: 'I Made a Huge Mistake' Obama Slams Republicans Over Lawsuit Cantor Warns of Instability, Terror in Farewell House Leaders Trade Blame for Inaction Small Plane Crash in San Diego Parking Lot Dangerous Bacteria Kills One in Florida Florida Panther Rebound Upsets Ranchers Smartphone Powered Paper Plane Debuts at Airshow Raw: Thousands Flocking to German Crop Circle Raw: Deadly Taiwan Gas Leak Explosion Malaysian PM: Stop Fighting in Ukraine Workers Dig for Survivors After India Landslide Fighting Blocks Access to Ukraine Crash Site Texas Scientists Study Ebola Virus Busy Franco's Not Afraid of Overexposure Demoted Worker Shoots CEO, Kills Self Family Dispute Cripples Northeast Grocery Chain 49ers Open Posh, High-tech Stadium in California Southern Accent Reduction Class Cancelled in TN
NDN Video
Famous Internet Cats Help Big Cause With Viral Video Raw: Obama Gets Hug From Special Olympian Snoop Dogg Narrating Animal Footage Is Perfect Tigers Acquire David Price - @TheBuzzeronFOX Russell Brand Slams Sean Hannity Over Gaza Conflict Segment Chapter Two: Composing for a film in retirement Woman's Dive Goes Terribly Wrong Brian Williams Reports on Daughter Allison Williams' 'Peter Pan' Casting News Did Jimmy Fallon Look Up Heidi Klum's Dress? What Drama? Miranda Kerr Poses Topless Plane crashes in San Diego Costco parking lot Justin Bieber Takes To Instagram To Diss Orlando Bloom You Won't Believe the Celeb Cameos in "Sharknado 2" Pitch Invading Morons Cause Chaos - @TheBuzzeronFOX Orlando Bloom 'Takes a Swing' at Justin Bieber In Ibiza Sadie Doesn't Want Her Brother to Grow Up "Maxim" Hotness! See Jessica Alba's Sizzling Spread Two women barely avoid being hit by train Broken Water Main Floods UCLA Orlando Bloom and Justin Bieber Reportedly Came To Blows In Ibiza
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
  • -

     

    March 12, 2010

activity