Thursday, September 6, 2007

Beall's Hill audit finds sloppy book keeping, no impropriety

A long-awaited audit of the effort to revitalize the Beall's Hill area found poor record keeping and inadequate oversight, but no misuse of funds, as some public officials had feared when commissioning the audit last year.

The audit found that the corporation's financial statements "present fairly, in all material respects, the position of Beall's Hill Development Corporation," according to a letter from the auditing firm, McNair, McLemore, Middlebrooks & Co. But the letter addressed a number of problems, particularly that "the corporation's files were incomplete and did not contain documentation to substantiate the majority of the activity of the corporation."

Despite that, the remaining two members of the corporation's board said the audit will allow the revitalization effort to move forward.

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