LANSING, Mich. (Michigan News Source) – The State of Michigan’s Treasury Department notified the Flint Housing Commission the state will begin to withhold revenue from the commission because it failed to submit its audit.
The state notified the Flint Housing Commission in a Feb. 4 letter. The housing commission has had a history of issues with completing proper financial audits.
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The independent auditing firm Rehmann noted that the Flint Housing Commission didn’t file necessary audits for the city of Flint’s 2023 annual audit.
“We noted the Flint Housing Commission (the “Commission”) Component Unit was not included in the financial statements of the City,” According to GASB standards, the Commission should be included because it meets the criteria for financial accountability,” Rehmann stated. “The exclusion appears to be due to significant delays in financial reporting by the Commission. This omission results in incomplete financial reporting. We recommend including the Flint Housing Commission in future financial statements to ensure accuracy.”
The city of Flint sent a complete audit to the state of Michigan for 2023. However, the city has removed the auditor’s comments on the city’s financial issues from the version it posts on the city website.
The Flint Housing Commission owns 1,115 public housing units throughout the city. It has revenues of $16.2 million as of 2023.
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