Auditor gives report to Housing Authority

The Ville Platte Housing Authority’s auditor brought good and bad news to the board at its November 18th meeting.
The good news that the auditor from The Vercher Group delivered was that “there were no problems found on compliance with federal programs” and also that the Housing Authority received an “unmodified opinion,” which is the best you can have, on their financial statement.
While this was good news for the housing authority, the auditor did have one finding needing to be discussed.
After reassuring the board that this finding was not something that the Housing Authority did wrong, the auditor said, “We send a confirmation to the bank and confirm your cash accounts and we also confirm that they are securing your bank accounts. Whitney Bank however, did not secure $56,969.00 that was over FDIC limits and if you have monies over the FDIC limits you are suppose to place securities on that money.”
Although, the auditor doesn’t believe that this mistake should cost the housing authority money, that happening is still not completely out of the realm of possibilities.
“It is possible that if the bank has failed at placing securities, the housing authority could lose $56,969.00, but I have never heard of a government losing money because of the bank’s failure,” said the housing authority’s auditor.
At Wednesday’s meeting, the board also decided to change their meeting time back to the second Tuesday of every other month at 5:30 p.m.