Homeless Housing and Assistance Corporation

Internal Controls Over Major Financial Operations

The Homeless Housing and Assistance Corporation oversees New York Stateís Homeless Housing and Assistance Program, in which capital grants and loans are provided to not-for-profit organizations for use in acquiring, constructing and rehabilitating housing for low-income individuals. We examined the adequacy of the internal controls over the Corporationís major financial management functions. We found the controls provided reasonable assurance the goals and objectives of the Corporation would be achieved. However, improvements were needed in certain controls relating to equipment inventories, corporate governance and information system security.

For a complete copy of Report 2004-S-19 click here.
For a copy of the 90-day response click here.