District elected officials have cited balanced budgets and Wall Street credit ratings as indicators they have handled the city’s finances masterfully. But behind those shiny facades are internal control problems screaming for attention.
Independent auditors from KPMG, who in 2012 reviewed District finances and internal controls, recently sent city officials a 55-page “management letter” identifying 34 weaknesses, deficiencies and cases of noncompliance. The majority — 24 — were cited in previous years.
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.