An audit report was filed on November 7, 2011 on the Coney Island Development Corporation's (CIDC) financial and operating practices and its compliance with its EDC funding agreement. This audit determined whether CIDC accurately accounted for program funds and conducted its economic activities in accordance with the funding agreement. It was determined that EDC properly accounted for CIDC's revenues and expenses and conducted economic activities in accordance with the funding agreement. However, it was found that EDC paid $20,856 in inappropriate or questionable expenditures and could enhance the controls over CIDC's operations to ensure that all transactions are properly authorized and processed in accordance with procedures. Recommendations were made to rectify these issues.
An audit report was filed on November 4, 2011 on the Department of Homeless Services' (DHS) controls over billing and payments made to Aguila, Inc. It was determined that DHS did not adequately monitor Aguila's fiscal and operational performance. It was recommended that DHS keep closer monitoring on Aguila's operations and keep a more stringent check on its own.
NYC's Borough Presidents are elected by the people of their respective boroughs for a four-year term. Each President has the power to prepare and review budget proposals, recommend capital projects, hold public hearings, consult with the Mayor and City Council, review and recommend applications and proposals that affects the borough he or she represents, provide assistance to the borough's community boards, monitor and make recommendations regarding the performance of services in the borough, and propose legislation to be introduced to the City Council. This audit determines whether the Manhattan Borough President's Office has been following the cash control procedures set in the Comptroller's Office Directive 11.