Community Facilities Project Guarantee Fund

Internal Controls Over Financial Operations

The Community Facilities Project Guarantee Fund was a public benefit corporation created in 1969 to guarantee loans made by the New York State Housing Financing Agency and private lending institutions for the construction, rehabilitation and improvement of child care and senior citizen facilities. We found that the Fund, which had no employees of its own, had no assets or liabilities and not been active for several years. We therefore recommended that the Fund be dissolved.

For a complete copy of Report 2005-S-5 click here.
For a copy of the 90-day response click here.