Unfavorable audit for GHURA - KUAM.com-KUAM News: On Air. Online. On Demand.

Unfavorable audit for GHURA

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by Sabrina Salas Matanane

Guam - The Guam Housing and Urban Renewal Authority needs to do a much better job of meeting federal financial reporting requirements and keeping better track of its books. Those were two findings of an audit released today by the Guam Office of Public Accountability.

Auditors noted some of the problems with the Fiscal Division is that it lacks qualified staff and accountants. On the other hand, the OPA found that GHURA ended Fiscal Year 2010 with an increase in net assets of $1.5 million, compared to a decrease of $1.2 million in FY2009.

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