September 13, 2022 DHA Finance Committee Meeting Minutes
MINUTES
DUPAGE HOUSING AUTHORITY
FINANCE COMMITTEE
September 13, 2022
- 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 9:25 a.m. - ROLL CALL
In attendance were Commissioners Berley, Hood, and Chairman Bergman. Also present were, Executive Director Cheron Corbett, DHA Comptroller Byron Williams, and Admin. Assistant Susan Martin. Technical difficulties delayed the meeting and Commissioner Hood had to leave the meeting. - PUBLIC COMMENTS
No members of the public were in attendance. - APPROVAL OF MINUTES
Bergman made a motion, seconded by Berley to approve the Finance Committee meeting minutes for August 16, 2022, and the motion passed unanimously. - FINANCIAL STATEMENTS
- There were no financial statements at this time. Byron Williams introduced himself to the group as the new Comptroller in charge of the DHA Finance Department.
- There were no financial statements at this time. Byron Williams introduced himself to the group as the new Comptroller in charge of the DHA Finance Department.
- NEW BUSINESS
- BDO Update: They are working on several items such as closing FY2022, FMS entries, Bank Reconciliation clean-up, and closing the books for both DHA and KHA. The department is aiming to have the Bank Reconciliations available next month. Although clean-up is still required, Comptroller Williams stated a preliminary Balance Sheet/Income Statement may be ready for the next meeting.
- QAD Audit: Several issues emerged. Yardi was not set up correctly and Executive Director Cheron is working with Yardi through modules and their individual capacities. HUD noted that proper recording of transactions were not captured the way they should be for the general ledgers and program's functional expenses. DHA is planning to move away from credit cards. Recording of Port-In Receivables and DHA subsidiaries were discussed. QAD is expected to finish on the 15th and present a future action plan. DHA has a road map to become a stronger agency by implementing better practices and staff training.
- Security Guard Update: The attorney is reviewing the contract and the Board is to vote on the Resolution with the possibility of a guard on the premises Sept. 26 or Oct. 3rd.
- Stough Group Update: General Counsel Hanson is to send documents to the Stough Group's attorney. The new owners have reached out to DHA; however, the Developer's Application/Process will be in the works at a future time.
- Development: We are striving toward accurate information from Yardi to determine voucher utilization. We need clearly defined language with developers.
- BDO Update: They are working on several items such as closing FY2022, FMS entries, Bank Reconciliation clean-up, and closing the books for both DHA and KHA. The department is aiming to have the Bank Reconciliations available next month. Although clean-up is still required, Comptroller Williams stated a preliminary Balance Sheet/Income Statement may be ready for the next meeting.
- ADJOURNMENT
Consensus to adjourned by Chair Bergman at 9:53 a.m.
Respectfully Submitted,
Susan Martin,
Sr. Administrative Assistant/Recording Secretary