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December 1, 2022 DHA Finance Committee Meeting Minutes

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MINUTES
DUPAGE HOUSING AUTHORITY
FINANCE COMMITTEE
December 1, 2022
Special Call Meeting

  1. CALL TO ORDER
    Pursuant to executive order 2020-07 signed by Governor Pritzker and guidance provided by legal counsel, DuPage Housing Authority conducted this meeting by use of electronic means using Zoom, without a physical quorum present in the boardroom. Finance Chairman Bergman, called the meeting to order at 9:02 a.m.

  2. ROLL CALL
    In attendance were Commissioners Berley, Hood, and Chairman Bergman. Also present were, Executive Director Corbett, Comptroller Williams, Admin. Assistant Martin, Jordan Boehm, CPA from CLA, Dwayne Tucker and Nicole Hannigan from BDO USA, LLP.

  3. PUBLIC COMMENTS
    No members of the public were in attendance.

  4. QAD UPDATE
    • The meeting covered the HUD Corrective Action Plan including QAD findings, PHA strategies, CAP responses and goal dates.

    • BDO will conduct a forensic audit and develop a plan of action for reconstructing financial records. They will determine the true and accurate financial position of both DHA and KHA with a goal date of 3/31/23.

    • The executive and financial staff will be provided extensive approved training on HUD financial records/reporting. BDO has a financial training session scheduled in January for commissioners. A reoccurring training schedule will be in place.

    • BDO will reconstruct ledgers and ensure that Yardi software is set up with accurate data and will document those results. One of the two Data Integrity Analysis positions has been filled.

    • BDO will ensure VMS is updated and provide documentation as to how balances were calculated and what adjustments were made.

    • A new financial institution is needed to execute new GDA that includes account numbers for DHA/KHA financial accounts that contain HUD funds. The Finance Committee concurs that the deadline for this objective is moved to September 2023.

    • BDO will identify non-federal funds and reimburse the HCV account. The current stated amount from HUD is $58,153.89.

    • BDO will provide documentation to support the validity of the questionable cost owed of disallowable costs by the deadline of 2/12/23.

    • The three credit cards will be terminated by the goal date of 2/12/23.

    • BDO will ensure FSS escrow accounts are fully funded. They will also develop and implement policy to record FSS in all systems based on the new HUD FSS rule by 3/31/23.

  5. BUDGET UPDATE
    • The budget discussion will be covered at the Dec. 13th regular Finance Committee Meeting.

  6. ADJOURNMENT
    Consensus to adjourn by Chair Bergman at 10:00 a.m.


Respectfully Submitted,
Susan Martin,
Sr. Admin Assistant/Recording Secretary