PHA, Glen Cove Didn’t Always Use Property Disposition Proceeds Appropriately

HUD’s Office of Inspector General (OIG) audited a PHA in Glen Cove, N.Y., regarding its administration of the disposition proceeds it received from selling properties. OIG targeted the PHA for review because HUD’s New York Office of Public and Indian Housing ranked it as the third highest risk performer among 67 public housing providers in New York and because the audited financial statements and property disposition records showed that the PHA may have loaned a portion of its property disposition proceeds to its nonprofit entity.

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