LAHSA Audit Uncovers Major Financial Missteps

0:00It's April 21st, this is California News Today, your AI-powered local news. Auditors just dropped the bombshell on the Los Angeles Homeless Services Authority, uncovering major inaccuracies in their financial statements for last. Fiscal Year, which ended June 2025. The agency handles massive taxpayer cash, $810 million in operating revenues, and blew through it despite past warnings about. Sloppy Bookkeeping A significant deficiency in internal controls let errors slip through, forcing big fixes right before the audit wrapped. The single audit, required by the Feds, came in late missing the March 31st deadline and risking future funding. LAHSO hopes to submit the final version this Friday over three weeks behind. This echoes prior audits that prompted LA County supervisors to yank their $300 million annual contribution last spring, shifting to. Direct management starting July 1st. Supervisors by Kathryn Barger call the delays inexcusable, saying it proves why they pulled out.

1:05Lindsey Horbath agreed, stressing accountability is non-negotiable for tackling the homelessness crisis. Meanwhile, the City Council's Homelessness Committee wants to phase out funding through LAHSO over the next year, though Mayor Karen Bass warns, against rushing to avoid service disruptions. Digging deeper, auditors flagged locked-in leases totaling $75 million that can be ditched, draining $10 million yearly from. The budget via the master leasing program for 72 housing units. Payroll issues popped up too. Unapproved time sheets for federal funds, and there's an ongoing state probe into a Top exec's conflict with a vendor tied to her husband. LAHSO says they're already rolling out auditor fixes with the full commission set to review the report Friday. These financial fumbles hit hard when every dollar counts toward housing the unhoused, so expect more shakeups ahead to tighten the reins on public. Money.