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Chris B. Brown: ‘The receipt of ARPA funds provides the city with an opportunity not only to meet the deficit in the short-term but also leverage the funds to partially address its structural budget issues, rather than kicking the can further down the road.’
Today, our office stopped to recognize and thank our employees for their work during the past year.
Wishing you and yours a very Happy Thanksgiving and holiday week!
Our office had some fun today raising funds for the city’s CMC campaign by dunking Controller Chris Brown!
Who knew our employees had such good aim?
The Controller's Office has released its special revenue fund performance audit of the Houston Foundation & Regional Participation Funds, operated by the Finance Department.
The audit found that:
1. Funds were improperly classified as special revenue funds;
2. No formal written policies & procedures were in place to guide the designation and classification of funds; and
3. Transactions were not included in SAP & incomplete monthly financial reports were presented to Council.
You can read the full report via the link below.
Today, Fitch Ratings has affirmed the International Fund Credit Quality Rating (FCQR) and Fund Market Risk Sensitivity Rating on the City of Houston General Investment Pool at 'AAAf'/'S1'.
The 'AAAf' rating indicates the highest underlying credit quality, or lowest vulnerability to default. The 'S1' rating indicates a very low sensitivity to market risk.
For more info, read the release via the link below!
Last week, the Controller's Office released its Audit Plan for FY 2020. See what our office has planned via the link below!