Financial information from the D.C. Housing Authority was wrongly excluded from the District’s most recent financial statements, according to a report by the Office of the D.C. Auditor that was issued Thursday over objections from the city’s top fiscal official.
The omission of information about the housing authority — which the auditor says should be considered a unit of city government — exposes the District to legal risk under federal securities law, said D.C. Auditor Kathleen Patterson. And it shows a lack of reporting rigor that makes her nervous, she added in an interview.
“We could get a black eye, our great bond rating could be threatened — there are things that could be harmful to the District’s financial status,” she said. “And the reason for pointing out that risk is to address it before anything like that happens.”
Click here to read the rest of the article written by Steve Thompson over at The Washington Post
