[Mpls] NRP - Accounting

[Michael Atherton]

Barbara Lickness wrote:

> Mike is wrong. There are two types of audits. Those 
> neighborhoods receiving less than $50,000 a year are audited 
> for financial compliance. In other words, do they follow 
> standard accounting practices. Do they keep a general ledger? 
> Do they have financial policies and procedures? Do they 
> balance their checking account? etc.  
>  
> All other neighborhoods have full audits by the state 
> auditors office. They look at everything down to the smallest 
> detail and they most definately confirm the accuracy of that 
> documentation. Most neighborhoods have full audits.

Very interesting.  So, I believe that my neighborhood association
received $2M+ in NRP funds, but they did not receive full audits
in every year of the program.  So just when are full audits
required?  Are full audits required in every year in which
funds greater than $50,000 are released?  Will Ms. Lickness 
please identify the years that PPERRIA received full audits?

Also, as I recall Enron was fully audited, what other safeguards
does the NRP provide over-and-above those done at Enron?  Case
in point, PPERRIA released $500,000+ to a private housing developer
without a formal bidding procedure. How is the NRP confident that
this procedure was done fairly?

If I understand this correctly, then contractors who receive
less than $50,000 a year do not receive full audits, THEN
what is the dollar amount of funds that have been released
without full audits in Phase I?  If the NRP has tight accounting 
procedures then this figure should be readily available.

Thanks.

Michael Atherton
Prospect Park