VI Housing Authority Earns Clean Audit, Recognized as a Model Agency

Auditors praised VIHA for compliance with federal regulations and strong financial management, highlighting unmodified opinions for major programs and internal controls. The six-year streak of clean audits reflects VIHA's ability to retain top talent.

The V.I. Housing Authority received a clean bill of health from its independent auditor, board members learned during a meeting last week. It's a very, very good report,” said Richard Larsen of Novogradac. VIHA received unmodified opinions, “the highest level of assurance that we can give,” in two of the three areas examined by the auditor. A qualified opinion on the body's financial statements had to be given, board members learned. “That is because of the pension report from the GERS not being available,” Mr. Larson informed. Because VIHA's fiscal year-end in December is out of sync with other government agencies in September, current data was not available in time, the auditor explained. The audit of VIHA’s internal control processes and adherence to federal laws and regulations found no instances of noncompliance, which is “also the highest level of assurance” an auditor can give, said Mr. Larson.