title
Presentation, discussion, and possible action regarding the Texas State Auditor's Office audit report #26-010 "A Report on the Audit of the Fiscal Year 2025 Financial Statements of the Department of Housing and Community Affairs"
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RECOMMENDED ACTION
recommendation
WHEREAS, the Department is required to undergo an annual audit of its books and accounts, an annual audit of the Housing Trust Fund, and to obtain audited financial statements for the Housing Finance Division and the Supplemental Bond Schedules;
NOW, therefore, it is hereby
RESOLVED, the annual financial audit, audit of the Housing Trust Fund and the audit of the Housing Finance Division and the Supplemental Bond Schedules are hereby accepted.
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BACKGROUND
Audit requirements:
1) In the Department's governing statute, Tex. Gov't Code ?2306.074 requires an annual audit of the Department's books and accounts.
2) Tex. Gov't Code ?2306.204 requires an annual audit of the Housing Trust Fund to determine the amount of unencumbered fund balances that is greater than the amount required for the reserve fund.
3) The Department's bond indentures required audited financial statements of the Housing Finance Division and the Supplemental Bond Schedules.
Results of the audits conducted by the State Auditor's Office:
SAO Report on the ""The Audit of the of the Fiscal Year 2025 Financial Statements of the Department of Housing and Community Affairs" Report # 26-010 available at:
A Report on the Audit of the Fiscal Year 2025 Financial Statements of the Department of Housing and Community Affairs (texas.gov)
a) FY 2025 Basic Financial Statements (SAO Report # 26-308)
b) FY 2025 Revenue Bond Program Audit (SAO Report # 26-312)
c) FY 2025 Computation of Unencumbered Fund Balances (SAO Report # 26-309)
d) FY 2025 Report on Compliance with the Public Funds Investment Act (SAO Report # 26-310)
e) FY 2025 Report on Internal Control Over Financial Reporting and on Compliance and Other Matters (SAO Repor...
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