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TABLEOFCONTENTS PAGE 1N1 )1' 1'1 ; ;NI ' )1~ NTAUD1 TOR' SREPOI ,q ~ 1 CA OC MC BOI NUN HI )BGR A1O .U ANI' CE-S SI t~ tET 1I ;' T-B AE IR I.3 . F0 U,1 N9 I9 )7 TYPESAND S P M ; CO M B N 1 H ) S T A T E M E N T O F R ~ I V E N U E S , E X P F . N I ) H U ' . ~ I I S ; ' A N D C . N A TI Y1A PN I{ SG --F FS OI RF TIU IN F. YDEB AAR1. ENNC )HES I )-SA EL I' TLG EMOFV EER ~ RN 3M 0,E 19N 9T 7Al,FUND CO NGHI AT MI N . , ) U ' S ; CM ]IP A, NI ') SS ; NI I F, UF N. )F BE AI LO AF NR CE EV SE -T -N AU LAE ,S l GE OOX VP FE RTN ~ NI MY EI NA TRI A' 1.AND F U N I ) T Y P I . ~ S P U D G T A N D A C U l . F R I I E Y E R I, NI ; )H)SH' TF. MI~ ;I ;I , ~,30,1997 9 NOTESTOTI 1ECOMt3 1NEDFINANCIAl.STATEMENI' S 12 SUP P L E M E N T A R Y I N F O R M A T I O N : IndependentAuditor s'ReportonSupplc mcntar yInfor mati on 32 F.XIII BH' A C n a cialRe venue 34 Fo um ndb si -n -i Seg pB emal t bn ec re 30Sh ,e 1e 9t 97Spe Cn od mC bh ia nn nge i gs Sti atF mun e ed nlB oa fla Rn ec ve es nuS ep se ,c Fi xa . plR ee nv de tn i uu re es a n Funds--FortheYearEndedSeptember30,1997. SCItI 'DUI. t;I C a 1 )Basis --AllFund 37 So om urb ci en se -d SB epa tl en mce beS rh 3e 0e ,t 191 9U 71 C o m b i n ed St a t e m e nt o f I n c o m e a n deE xpenses-ttUI) B a s i s A l F u n d S o u c r e s F o r t h e Y EndedSeptembe r30,1997 ar 39 Co onmt bi inu et do BnaC ao l nnt er c St hs eeS te -p lt te Um Db Ber a3 s0 s, i --1 A9 ll7 Annual C r b i ac 9 TABLEOFCONTENTS,CONTINUED SUI P MiA T S' CL IE I~M l I) UEN I. IT ~A IVRYINF CO omR ns eT dI SO tA aN t, eC meO nn tN ol fI IN nU cn oE mD eb: at ni dnExpenses 1 U 1 Db Ba i s l A n ua C o t i r u o C s FSo en pt tr ea mc bt er3o 0r ,t 1h 9e 9Y 7earEnded SCIIEI) ULI~V C o m b i n e d A n a l y s s i o f S u r p l u s t l s An nd ne udaS le Cp ot ne tm rb bue i ti3 o0 n, C19 o9 n7 tr acls-FoU rDt hB ea Ys ei ar-All E r SC11F A) UI. I;VI C Co on mtr bi iu ut nio i gn BCao an l nt cr ect Ss hF ecW t-l0 l5 U3 D, BFW as is2 -2 A0 n1 na ual b a 2 FW-2217--Sept ember30,1997 nd SCIIFI) UI. FVI-C o mDbi n ns i g S t at e m e n t oof n I o c m e an d E x p c n ses1 U 1 B a i s A n n u a l C n r t i b u i t o n C o n t r a t c s F W 2 0 5 3 , F W 2 2 0 1 a n d F W 2 2 1 7 F o r t h e EndedSeptember30,1997 Year SCItl ;I )ULEVI ll-C o m b i n n i g A n a y l i s s o f S u r p u l s H U ) I B a s i s A nt b io a Fn Wpn -u 2a 2l 0C 1o nr di Fu Wt 2nC 21o 7n -t Fr oc rts hF t eW Ye2 a0 r5E3 n, ded S e t e m b ra3 e 0 , 19 97 SCltl ~I) ULE1X C o m b i n n i g B a a l n c e S h c e t H U I ) B r i act Fa Wsi -s 20A 53n -n -u Sa el pC to emnt bi eb ru 3t 0o ,n1 9C 9on 7tr SCItH) UI~ FX C n i t n es~ Io Jm UIb )i Bn aig s sS -t Aa ne nm ue an lt Cro of nI rn t ic bo um te oe i na Cd oE nb tx rp ae cn ts F W 2 0 53 F o rt h e Y a e E n d e d S pt e m e r 3 0,1997 I'A(;E 42 47 49 52 TABLEOFCONTENTSCONTINUED PAGE SUPS P NF Oo R Mi A T O I N , C O No T I N U E Ds : CL IE IEM I)E UN LT ~A ' t XR IYI C n b a n i n g A n a l y s s i f S u r p u l i U t D B a i s s Aor nnt uc alY Cca or nt rE in bd ue id t onSc Cp ot nc trb ac tr3 c FW0, -1 29 09 57 3- 54 F h m SCIIH)ULI ~XllC Co ont bib a nu i il ni gn BC ao an l nt cr eac St hF cW ct-2 I2 I0 U1 D-BSe ap st sm i -Abe nr n3 u0 a, l o e 199n 7r SCItl~ I)UI.I ~XIIC ni n a n cs1W 1o Um Ib )2 Bi sg sF i -S -t At ne nm ue an lt Cao of nI tn ic r bo um te oS i na Cd omE nx rp t ac cn ts F 2 0a1 o r t h e Y e r E n d e d ep e t b e r 3 0,1997 57 SCIII' I)ULEXIVA ; Cn omu bl nino i gAri nau li yo si sC ofSt ura pt luF sHUDBaF si sor then Ya caC rEnnt deb dSt epn temon ber r3c 0,1W 997220l-58 SCIIF3)ULEXV C a o i d p i uing Ao nm np ua au lt Ct on nro t if bR u0 ie t os ni -u -a Al nR ne ue ac le Ct os na tn ibd r uA ti oc ncr C o n r t c t F W 1 1 9 F o r t h Y c a r E n d d e September30,1997 60 SCIt1 3I)1 31.EXV1C a o u r b o nd Pro om jp ea cu tt Ati cn oro uf nA tt -n On pa el aC r tt non i gt Ri eu et s ri vn eE Ca hn aa nc gd er sa A F o the 62 Yn en au rEl nC do dnt e Si eb pu ti eo mnbC eo rn 30r ,a 1c 9t 9F 7W-2053-SCIIF1)UI,I 2XVIC ' o mp ut at o i of Au nn ua lC on r t ibu ti o Ea rne dn a d tn c O n sn e esAn nY nP ur ao lj Ce nA rc t ic bo ue tn ot i nCp oe nr ta rt ai cg tFR We 2r 2v 0e 1C -th :a org t he e a r Eon d e d S p em t b e r 3 0 , 9 1 9-7 64 TABLEOFCONTENTS,CONTINUED PAGE SllP LtE N SI C' IM ~I , )E IIN LT EA XRVY III INFOR CM od mA pT uI aO t lc iN o, nC oc fO An mTI mN aU lE Cr oD nt t: rg buR i ie t oe nr Ev rned a a n P r o j e t A c o u t O p e a n i s e C n A a ib o ract Fh Wa -g 2e 2s 17-3 Fn on ru hl t eC Yon et rr a Eu nt di en dCont e p e t m b e r 0 ,1 9 9 7 S('1I E1 )UI, I' ~XI XS S a t t e m n e t o fA c u t a l I ) e v el o p m e n t C o C o n t r b i u t o i n C o n r t a c t F W 1 1 9 0 S e ps tt es mbA en rnu 30a ,l 68 1997 SC11~1 )U1, EXX S a t t e m n e t o f A c u t a l D e v e l o p m e n t C o s t s O v e r Be up dt gm etb -e Ar3 n0 nu, a1 l9 C97 ont ribut ionContractFW-1190 S e SCIt EI )UI, EXXI A Sn atu t ea meno tot fi Ib )u evi en opmenr l ta Cct oF sW st -1 N1 o9 t0Compl eted Sen pt emlC bern 30r ,1t 9o 97Cont 74 SCII EI )UI, EXXII R c i i i v o We to hn Cc ol sa st t -o -n At no nf uD ab le Ce ol np tm r1 be i un tt oFu i nCnd os nA rad t cv tanced F Wi 1 19 0 S p e e m er 3 0 , 9 9 7 SCII FI )UI, EXXIll C So ateml t ee ntofAnn ct ua alC Mon der rnu izo an ionCor t sa tc -t s -Not FWm-p 1e 1t 90d -SAe pteu ml bero 30t ,ib 99ti 1 7Cont 78 SCII' ;I )UI. EXX1V R c c i i t We to hn Ci ol sa st t -o -n Ano nf uM abo ld Ce or nn ti rz ba i ui to onF i nCun od ns rA t acd tvanced 97 F Wi 11 9 0 S p e e t m e r 3 0 , 9 1 9 7 SCTI II EEI t )Y UEA 1. EROEN FEDE XPD ES NE IH )IT' UM RB EE SR OF30 F, E19 D9 E7RALAWARDS-FOR 98 E TABLEOFCONTENTSCONTINUED 1N I)I P ;N ' I EN TA UI II' ) O S' REFP O TCON CO M POI .I AN CEA ND O)N 1 T~ F RI A) .C OR NR A H A ON A~ NN UI IO TN OT FHR IO It ' NL NVV CE IR AN .I I TAN TTEI MAL EI NR TT S~ PG ERT (I I FN OAG RMB I~ IS )E Il NS, A CNCO R DAA NDC E W I ' GAO E R MSE N A U )I 1N S T N DA R I ) INR ) I E H ;N ' D E NE I "A U 1 )H ' O R S' R EL P OT R TE O NC C OM MA P L IA N C E W IT H I ; ' Q U R I L 1 M N I S ' A P P I A C A B E O A I t J O R P R O G R A M ND I N T E R N A I ~ C O N T R O L O V E R C O M P L I A N C E I N A C C O R D A N CEA WlTIIOMBCIRCULARA-1 33 SY CI H' ;R ' I I) UELN I1 ;) OED FFSE NP I DT IE NM GSBE ARN3 D0, Q1 U9 E97 STIONEDCOSTSFORTHE ;A SU1M C E ) . N TIONEI)COSTS OM , RA TR IIY EYS t, AH ; R1 EU NI DE EO DF SF EI PN TD EI MN BG ES RA 30D ,1Q 99U 7ES ST A T U S O F P R I O R Y E A R S A U D I T F I N D N I G S , R E 'O CONDITIONSANDOTII ERRECOMMENDATI ONI SRTABLE I~ ,XITCONI'I ~RENCE PAGE 102 105 163 167 171 I ~ M~ it H" Ei A tl BM Fv B U1 I Na Cl Po AP A C L I K J [r H V [ A OH N J R CP A W A D O J F O [ { J C An INDEPENDENTAUDITORS'REPOR'I ] o ' h I e B o a r d o f C o m m le owuO l si nr gl Ans u. tl h, oo ru ti i yia on fi Nsi wone e Or rleans N ea s a W e h a v e a u d i c l d h l e g e n e a r l p ur pos ef in a nc al i st at em) ent sas li st e di nt he T' al ?L co fC oD cj _ t ls / o t t m l l l o u s i n g A u l h o r i y l o f N e n t n , s ls f co ~ )' eas rbi ei nl deo dH SeA pt emOb' erm 3n 0a ,e 1w 9m 9O 7r .l Ta hs e( e1 s gA eN no eO ra, lN pi ue rw poO sr el ia f nx as nl c. io au li si ta tn a ca ma cn lo sf l an rd ef to hr e c r c i y s i oe t e p r e s n a o p i ns o i oa n t h e s e gcp ncn rai -pul l ry posf ef inN anci as lsta at emge cnte ~n bt a. sO edur or ns op urns ai ub di tl .l E x c c p l a s d s i c u s s e d i n t h e l b l o l w n i g p a r a g r a p h s w , e c o n d u c e t d o u r a u d i t l i l a c c o d r a n c e w t i h g e n e r a l y a c c e p e t d a u d t i n i g s t a n d a r d s a n d h t e s l a n d a r d s p a p i l c a b e l t o f n i n a c a i l a u d t i s c o n a l i n e d i n G o v e r n m e n t A u d i t n i g S t a ~ d c ~ d s , i s s u e d b y l h e C o m p t o r l l e r G c n c a r l o f l h c U a t es s r e re h t p e mar r he u t omo a cn r ai sl oe nd ae bS cl l s. a suT ra ah no cs ce at ba on ud ta wds hx er lq hu en ri tg ht ea ia f nw ne a cl aa i ln sa tn td a ei mp er nf so t et rt f ca cgdi oe ft ab tu cl ri an i l m i s s a t l m e n . t A n u d ! i i n c u l d e s e a m i i n , o n t e s t b a s s i , e v d e n c e s u p p o r n i h t m a o n t ar ni dc dip sl i ce ls ou us s re ed sia nnd hs t eig in f ni af nc ca in at le ss at t ti ema et ne ts sm .Aad ne ab uydm taa i ln sa og ie nm cl ue dnt ea ss asw ee s sl sl ia ns gte hv ea al ca ct oi ung tt ih ns g p n i m , u n o in a a esenlal ion.Webel ievet haiouraudilprovide sar easonable e bv ae sr sal i orf f oa un rc oi p! ins il ol ne .menlpr A s m o r e i l l f l y d i s c u s e s d i n N O T E 8 , t o h t e g e n e r a l p u r p o s e i f n a n c a i l s t a e t m e n t , s H A N O i ap dp er fo ex ni daa nt le$ n1 i v1 a0 r0 o0 i u, s0( e0. l ga] lai ct iH oA nsN .OL' es gp ao ll ci oc uy nlo er s lec eo tr s id mal ts es se ts hr ae tl el xi pn og st uo res oft Hns Au Nra Onc ls o a m , 1 t s o a e l i a o e m h di nges timatee d in l ad bl ie ig l ia l cl sa ac sti en r qsb ui ra es dd byon gt eh ne ea rn an ll yua al cb cu ed pg ee t dlf ao cr cs ou uc nh lc nl i gai prs nr i ca it ph le er st .anrecor 650S.PI ERCEST. /SUI TE203,NEWORLEANS,LA70119(504)4828733FAX(504)4868296 NDEPENDE :' ORT (CNT ONATU II N)I UT EOIR )S'REI T h d r n i Io Iw ot use nBe i go Aa u, to hf oC ru io ym t ol fi Nss eo wne Or rleans N a ns l . o s i ia n a Pe ageO2rl I a on m y sc n o t i i n a t e , hn t ed id f ni at ni c, aa i ls sb ao t lr ee mf eu nl ll sdd oi nu os ts de id sn ci oN l sI eOo hT t eE a1 m, oi ut nl te og fe tn he er mal ap ju or rp co ls ae sf ei sn oa fc ai l nl ds ,a tt s rm ut ce un t rt es s a nd q e u pm i e n t y , n a t u e r o rf i m c t o i . n u ro p n i o n , t h e o m i s i c a h t f h o a s r e no tn byo nf ad tus rl eo os ru fr ue ns cr te ol i ne dd ot eo s noe ta cm ono fu on rt mo wt te i hm ga ej nr er ac ll ys l ae cs co ef pl ta en dd a, cs ct ou uc nt tu ir ns gpa rn id ne cq pu i li ep sm .e A s l o . a s d i s c u s e s d n i N O T E 1 0 , H A N O ' s f x i e d i l a b i i l t e i s a r e a d m i n s i t e e r d b y U n i e t d S t l a e 1r )c prc e rc a to mrd ned c lb ofy tll ol uA sN ngOab i na dsc Ud rbo an nl lt )U eD ve' ls od pi mr ee nc lt 1e ( t. UA Dt)S ae np dte am lb ier f xe3 d0 l, i1 b99 a l7 i t, i yl rl t aA nN saO ct ih oa ns s a i v s b e e n n i l o rm c b y1 t Ur ) I h t a t $ 44 6 , , i f c i i i i iv u da i e n t h e n t e s ed r l i l h e o e s s o f e3 n3 i g7 f7 o3 rgo vf i nx e .d Al sa ob fl St ee ps ti en mc bl eu rs 3e 0,o 1f 9a 9c 7cr nf oe jn d tt sr l he ls et l no s l h a h a n yi n g i f n an ci a l t s a te m e n t s o f H A N O t o e r l ec t h t e d c bt fa ov re go vb i ee ne en sa sm ad ne dt rt eo lp tt a ee dc nc i tc co rm cp tb s .a A s i f m h e r d i s c u s e s d i n F i n d n i g N u m b e r 9 % 4 , w e w e e r u n a b l e o t e x t e n d o u r a u d i i t n proccdurcssutl ]ciemlyt osat isl ~, 'oursel vesa boutbeginni ngfundbal ances. g Io ns oe ul rfi on ps nur i oa i nc ,e ea xn cd epl tg fa ol ra hct t ei efn es ct th se ofo nm ois ts ei r cn oro df id ni gs ec sl ti ms ae ts er de ll aa i bt id li tt esth i oe f ran ol l so su en sl ro ef at l th ee d t e o , o o u r o m j en s a r t p u ie m t , e U fe ~a ro gr vd i ec nl ea ss ss nio a df ti hl en ef fd f, es ct su t oc fu ar de us j sa tn md ee ne tq su ,e ii fm al ne yn ,t hb ao dy wn ea bt er ee ncO al bl ef l oc t ri eo on s vt l eh he t ot sl enD mf ad ie lb et s, r r a l t e t o b e g n n n g i e r d b a a l n c e s , t h g e n r a p u r p s e i f n a n i a t s a t e m e n t s p r s e t a r i y l i n a l l m a e t r i a l r e p s e c t s , t h e i f n n a c a i l p o s i i t o n o f t h e H o u s i n g A u l h o r i l y o f N e w O r e l a n N, er wth Oe rn lee an nd se .d li on , uic so an i nf ar asi oy fw Si et pt eg men be er ra 3l 0y ,a 1c 9c 9e 7at ndda tc hc eo ru en st ui lg sp t or fi ic sip t ol ps e. rat ionsforths e, 3 ca o m t h p e n n e I~lr ~e ~l l O RIl FI EDPUBL ICACCOUNTANT S T r val onCE INDEI)ENDE( CNT OA NTUD INI UTO EIR ))S'REPORT " 1 h , d r m i i lo lw ol usc nP i go Aa u, to hf oC ru io yn l of fa Nss eo wnc Or rleans N e l a ns I . o s i ia n Pe agcO 3r I c huG m t n l n a o u e l ln . ua yc l 2o 8r ,d 1a 9n 9c 8e ow ni ot ri co ov ne sr dw i e~ rw an tt oA i nru od fi Hi Ag NS Oa sd ' nr i td es r, nw alc ch oa nv re l ola ol vs en ri is f ne ad nl co iu ar lt er r pp oo rr tt nd i ga ac nd d o u r lc s s l o f l i sc o m pl a n c e i h t c e a t i n pr o vi si o ns o f a l w s , e r g u a l l o i s ,c o n r a c s a n d g r an l . s BE RR UT NI OFI &EDTP ERUB VL AI LCOA NCCOUNTANTS C Jul y28.1 998 J ~ rJ ] ~J ~J o . IE DPU BLI CACCOL JNl ANIS r ~ g T e r v al onCERIF o,~ioio,o,o , o' ' ,o r~L t ~ ro ~l J~j ~ o ~ o ~ L ~ ~ C JLf o~ O~Lf ~ L 0~ ~ 66 ~ v o o{ 6~6 ~66 0 L ~ O ~ o ) r L 6 ~ I O O-C O C v 'o 'o o, , :o 'o, , 'Io, 'o ' , 'o , o :~, ' o ,o '~ , 'o, o, '4o '~,1o'o , ' , HOUS|NNG A T O T N EANS E: WU ORH LN ER AI NY Sq ,O LOF UE IW SA IL AO NSR AL NOTI ;STOq'l tl ~C OM BI E D I N AN C 1 T ATEMENTS NOTE1-Oreanizat ionandSummaryofSi gnif icantAccounti nePolici es Genera Tc hp ete Hb oe ur s2 i9 ng,1 A9 u36 hto l oa rs ts i yis ot fan Ndp er wov Oid re lh eo au ns sin Hgt ( AoNl Ow)-i wc ao smoe rr ge as ni ie zu et dsi on n S m o n d N l n a v r m o Ce ow mli mO sr i se oa i ns e. sni r nH a dA hN eaO dl es dw bs yp ag no Exe en ce ud tf veb i Dyu ia ei r cs te ov re un nlU im Fe l en bb ue r ar rv yB 1a 9r 9d 6.o Anf 1 h l e e m d a ) o Ia ( tl Uea Dm )e ,, tl hh re oU ui gt het ad ca oSl pa o es aD r tl ve i ea er nl dee an vt oo rlH ago rv es en ms eg na tn wei lr hb hy l e,I Ce ie te yl op fm Nse ewl O r l n , s a p p o n d c o n u t a n t t o d r i e c y l o e r e e t h d a l i o p r a i t o n o f H u n t ng h kBp o hi r o aA na dN mOa a, ni an gc el md ng .m t Ao lt sn oi ,o hr t ei rot ee l ow ft ho er oe ar rf drm ofe Cd ob mymt se sE ix oe nc eu sti r wv ae sD rei de uc ct er d o 1 n d v s i o r ,ei 3 a c p a i c , y . F u n d i n g o f r h l c o p e r a i t o n s o f H A N O i s p r o v i d e d b y H U D h t r o u g h a n n u a l c r t b o c r e te obs fc g a p e r 0 9 Ho An Ni Out hi an di ho t ent fa oc lt os wr nl ga nd umt ep re oc fi un np ir so t nr Ams e. is l vA et IS )c ce vP ct lm og pb me n3 e ,, t A1 c9 iv7 t e, M od er n z i a t on , C o m m ui n ty i D eve l o p me t ni a dA s i s t n a e r o r am s: Contract Program NumberofUnit s F W11 90 Pt AeO l wn ed 12, 99 8 F o s FW W-1 21 09 50 3 1 Sl em ct to oo i nw8 8n -er Rh ei np talo Ces rr iu t ic f cai tn es 3, 51 816 7 F 9 FW W-2 22 20 11 7 S Se ec cti on i n8-N Re ew ntC alVn out ht c ro e s 51 20 4 17, 415 12 HOUSI NGA UTRHO RI TY,O FUNE WO RLEANS NO' I' I, ~STOTill ,COMNIE : ~W a INFO I)FLE , NA I AN NS CIL AO l,SI TS AIA TN FMAI' ~NTS,CONTI NUI~I ) O g r a n z i a t o i n a n d S u m m a h r L o f S i g n f i c a n l A c c o u n i t n g P o i l c e i s Cont inued: A sar e u re i osui , s i n t e o i aw , I R S 5 h i f n nq c al i sd a l lb ey m cI n a ea r pa r eS pt aa r edR ie np ar ct cn og dl r n, a cew( iA hS t gen. er. a2 l4 y: l a1 c4 c) ept tec d a c n p n pt l ( A . 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STOTIl ECOMBW NEDRFL I INANS CIAO LSTS AA TEMAENI' S,CONTINI JI~ ;1 ) Q ( r g a n i z a i l o n a n d S u n l n a 3 l , o f S g i n f i c a n t A c c o u n t n i g P o l i c e i s Continued: DebtSer viceFund T h e Dd e t SAp ra e vy i ce F u n d is u e d o t a c c o u n fe o r t l i ei a c c u ml u l a ir t o n oa f rd e o s u ct r e s o f h e t g n r e d p e e cr o, sa sn t bb yt He Om Tn ho ef D, ee bs le Sa el rl vo in cg eFt ur nm dt nb ct up l dr en sc ai ma o, ui nn st t oe ~s l dt pn e or se !l i wa td i h i f s c a l a g sNo r.d ue f ro m I I U D t o p a yip r i n ci p a l ma d i nt e r e st o n i f xe d iabil l it iee sn .t Cat ~it alPr oj ectsFund T h i s i f e r d a c o c u n s t o f r i f n a n c i a l r e o s u c r e s e r c e i v e d a n d u s e d b y H A N O o f h t s o t m talfaci li tie snotrepor ter d net i ia lc eq ou ti hi et ri gn o, vc eo rn ns mtr eu nc ai t lo fn uo nr dsi .provementofcapi Fi duci aryFund'ly re A g e n c ~ ' , F u n d T h e A g e n c y F u n d i s u s e d t o c a c o u n t b l r a s e t s h e l d b y H A N O nom i aeb tu uy r te s er e.cT aph ae ci tA yge on rcy asF anun ad gei ntac fc oo ru in nt de id vi df uai sn l ,e ss us ce hnt ai sll tet nh ae nt ssa mm ae d h s s or a y m n h n na i nn ae ur t ra ea (s at ss se eG seo t qve ur alm ie l an bt la i il iF t eu sn )d a, ne dx dc oe ep st nth oa tt nt i vh oe lA veg men ec ay sF uru en md ei ns tc ou fs rt eo sd ui la sl t o fo p e r i t o n . AccountGroups Tr heH aA ccN ouO n's tg ge on r uer pa il sf usx ee dd ta oss ee tt s as ba ln sd i ho au ct cs ot un nd ii t nn ggco ob nl ri t oa lt ai nn ds. acI ct oi us na abse t ll i tf i y o f i a g o b a n t e r n t t ia f nl an nc ci in ag lg pr oo su tp i ioo nf ,a nc oc to wu it hs t th ha et ma ep ac so un rc mer e ee nd toon fl ry ew ui s th l st oh fem ope ea rs au ir t oe nm se .n To hf e o f l l o w i n g s i t t A N O s ' a ec o um g r ou s : IOUSIN GAUT It ORAI TY,O FUNE WO RLEANS NOTES, l'O, l' Hl ~COMNBEW NEO I DRFLE NAN I NS CIL AO l,SI TS AIA TN F~ MAF~NTS,CONTI NUt'I ) NOTE1-O m a n i z a t o i n a n d S u m n l a r v o f S i g n f i c a n t A c c o u n t i n ~ P o i l Cont inued AccountGroups,Cont inued G a r e sf h s.g o s eo se an t be il l shF ei dx te od af cA cn os us mt oA rec fo xr eu dn al sG sa er to su op fp lAT Nu Oi Tr hu ep ih f xof dia e ac sc so tu e sn ol ft hi es g v e r n m e n a t l u d ar e r c o d e d s e x en di t p u r c h a s e d o r c o n s t e h e sar re cs ca at pit tae it l zem de ort rh ee py ora tr ee d inihcgener alf ixer du ac st sd e, ta sn ad cct oe unr tl ga rt oe ud pa .sset G e n e a r l 1 ~ o n g T e r m O b l i g t a i o n s A c c o u n t G r o u p T h i s g r o u p o f a c c o u n s isesta bl ishedtoaccountf orl ongtermobli gati onsofHANO. t Bo ad ii s sf oe fd Aac cc cr ou ua nl tb na i gsi -o Afla gc oo vu en rnt mng e. nT ah t lfe ui nr de sve an eue r as ca or uer ne ec t dog on f ri ud si nw ghe hn t e m l s i r ze s s b .c e , h b e l e l mu ec ae np st ci ul re rt eo ne la t yc dr uu ea al n( di e. xn pb eo ct tr em dd le oa bs er ca ob ll ee l ca tn ed dwa ta i hi ia nb tl h) e. nA ed xv ta wi t eb ll ve e m e v n uc e s n o t c o s d i e e a vu a i a l l a e r rv e c o r d e d a s e f ea r r d e reo vn et nh us e. sR E x p e n d t i u r e s a r e g e n e r a l y r e c o g n i z e d u n d e r t h e m o d i i f e d a c r u a l b a s i s o ax cc ce op ut ntf nr i gv wc ha et no tha en es r ac l tk edl uv f ne da id l ac bl la i ii ym t isa in nd cj uu rd rg em d,e in ft ms eah si uh ra ba ef l , e o a i n d i e a n s w c r e recognizedwhenpaid. h m ngsarerecor dedasearnedsincetheyaremeasurabl eand aw vae is at l be en l .tearni I n el u ce b e o u " n er e n a rn eo va ep np ul ey si ,g ht t eh e" gs als ap nt di cl ont raa t cc tc ur ae la rl ee qc uo in rc ee mp et nt to syi ow ft tg ho ev im no dm vie i du ul al l p r e rr evg er na um ess .ar Ie nu os ne ed ,mas og nu ii ed sa mnc ue s. tbT ehe er xpea ndee dss in bt ri ta hl est peco it iy f cp pes ur pf os ec s oh r ItOUSINNG AUOTt tOER 1TY OOFN E WAO RLEANS S NOTF. STOTI ]ECOME BIW NEDRFL INAAN NS C, IL Al.U SI TAI TN EMAI~ NTS,CONTINUED O r g a n z i a t o i n a n d S u m m a r y o f S i g n i i f c a n t Conti nued: p o f s l r s d h e o e rt er vj ee nc ut eb se ao er r ra ea cn oy gi na im zo el du bn at sn ew dei ul pb ot ne te hi em eb xu pp er ne do tt i uo reH sA re eN cO oe r; det de .r nf I tr h, e o e se e t y l r c e f e ao rh eer u, sm un ao ln yi l rq er vi ov cm ar bu ea l onu yur l fs ot ri fe ad lu i ua rs eto tr our cp oc ms pn yo l wx ip tt hnd pi rt eu sr cr ia bn ed d c a s ze i m e o f rem cep pli i toc re ear re ieu l rr ie fthe en "t s. usS ccc ph ibr l le ev te on ace cs rua ac l"r ce ri to eg ri ai ad ea r mt th e .et C o n s s i t e n t w t i h p r o i r p e r o i d s H A N O p r e p a e r s i s t i f n a n c i a l s l a e l m e n s l i , ce os nc foi re mdi ti ynt wh ie h. t ao cw coR unn tt inA gc pc ro au cn ti ci en sg p1 ra en crb s ibo ek d( oH rM per7 m5 t0 i e. t d) b, yw ]i Ic Uh Ii )s ,a an s d cr oi mnr pb rl ee hs e. nsP vr i ei bi ap sa sl i ode ff af cr ce on uc ne is t ngbt ot hee t rl had t nAo gN eO ne' rs ap lo yal cc c1 es pt1 en dd ach ce on ue nr tl nly i g p c p i n c i e e w en H i e i a g a a c c e p t e d a c c o u n t n i g p r n i c i p l e s a r e ( 1 ) n i v s e t m e n s t a r e r e f e l c t e d a t c o s t , a r t h tp hp ar no tv ha ell oo wft eh re ofl cA osN tO orB mo aa rr kd etr ;a (t 2e )r act ca on unu ts si rn eg cea vv i aba lu ea at ri enea xl pl env sa en dc ue poe nr a h h l o m o t cn hd are gq eu di op um be fn t ut la ar ce coi uc nl tu sd te od exo pn ent sh ee s;b (a 3l )a once l gs th ee re mtdr et bh te ar ndt la an ndi ,n sta uc r cc to uu rn ct s a n n a h g r o u p s ; (4 ) he n a s t a r i t d e po e y a n o i s r e f e l c e dw n i n c os me es or f re he er pe ro e ir oo dth re tr a hw ei rs hd t ai ns ss ad nof a, da un j tmg s ei ne to or fl ts hs e a o u (5 )a n nt ua l le a v e s i e x p en s e da w he n t a k en at r h r ha t n ac cc co ru un et dt ag sr ei rp a n; ea dn .d I t n i d n m l t rn cc aa l ld cd di ti oo se, lH -i f iA nN sp uO a' r ns epo c al nc dy li tr ie gg aa ir t oi nn dg oa ec sc no ou tn ct oi ng fof lo r nr te osl gi ena el ae r ld yli l aa cb ci ei pi ee t ds a c o u n i t n g p r n c i l e s. 16 HOUSING HO EANS EIA WUE OT LN ER AIT NY SI ,O LF ON UqE SW I AO I NMR AL NOTESTOTIECOMNB N DRFI A N C A L S ' AT , F I~ NTS,CONT1NUH) Oreaniza tionandSumnaar vofSi anif icantAccounli ne,Po Thesiguif icanlaccounti ngpract icesfoll owedbyHANOarc Basi sofAccount ing A l l go v nam r e e n t a h t n d sa ndat h a g en c yGfu n d r a a c o un t e d fo u s ng i I l e m o d i f ed cc r u a ll b a i s s o c oe u n i t g . o v er ne m ec n a t l f u n d er r ve n u e s a r c e r c oi g n z c w h e n s u s c p e t if b e l o t a c c rn u a l ( . i e . b t m a s u a b l e a n a v al i a l b l e ) A i a e y o c e o e i i e hv t ea cl ub ri el nd tm pc ea ru is oa dc .u Er xe pn et nl dd tu i ue re ea sn ad ec r gl el nc el ri ab ll yo rt eh cb oe ge nu is zd er dt uo np da ey rd ll ha cb mi ot di is io f ef d. a c r c u a l b s a i s o f c c o u n i l n g w h n h t e r e a l t e d f u n d i l a b l i i y t s i n i c u r r e d e x c e p l o f r d e b t s e r v c i e a n d o t h e r l o n g e t r m o b l i g a i t o n s w h i c h a r e r e c o g n i z e d w h e n pai d. U s e o f E s t m i a t soff e T h e p r e p a r a t o i n i n a n c i a l t s a t e m e n t s i n c o n t b r m l i y w t i h g e n e r a l y l a c c p e l c as cs con up nt io l nn gst ph ri nt ca ipf lec stt ree qur ip esrte r manmn gu a en mt entofa ose t ms akn edel sa tb mil i at ti ssa e an nd d a dp sm i clr oe sui rm eoo fu coa ns tif nge ev ne tlh ae i bs ie ito l ese i atd the eo di au es t os ftu hes int f ana ci alsti at en mgi ee ne tr si ad nd d e r e p o . Aco tut ald rea sul tsn ct ouo lf ddr ffn i eu rf romand hox l sp een td s it mar te esd .ringthereporti ]n vcs ll Ilent s ntc I vo es tt s mwh eni shaa t epp r nr oo nx -i nea gt os iam t bla ek ie nl sv ra t ul mue e. nt ss imi lartodeposit sandarestat ed a c m e r 17 HOUSI NG A T O E EANS E: WU O) RH LI ERA AI NTY SI ,O LF O, UN IA SW IT AO NMR AEL NOTF, STOTII ECOMNI ~I N EI }: N N C A I ST E NTS,CONTI NtJ E1 ) NOTF.1-O i nePol ici es Cr og na tn ii nz ua el do :nandSmnmaryof mi F a i rV a l u e o f F in a n c a i l ns I t ru me nl s T h e c r a r y i n g a m o u n t o f H A N O s ' i f n a n c i l a i n s t u r m e n t s a t S e p e ip np cr uo l dx ii nm ga ct ae ss hf ,a ni i vv ea tl s me. nt e s,accountsr eceivable, andaccountt sm pab ye ar b3 e0, l c1 o9 l s9 e7 y l a r u A l o w a n c e f o r D o u b f t u l A c c o u n t s Ao cm cm oui ns sio t rn ee cr er va i at bh le ert ah ean r exu ps ei ng sea dv ua pl ou nat ao pn pra ol vo aw la on fce ht t eo Hc Aha Nr Oed Bo ou ab rt df of C n i g i l a oae d n a y e n i ef s Tc hc eou an lt os wt nx cp ee rn es qe us ra i es dre squ i ni or le mb ty a erg ae i lle or tl hl ea ic f nc ae np ct id ala tc s ac to eu mn el ni tg sap sr anc wi hp ol e. l . and.St ruclures ,andEqui nmcnt L a n d , s t r u c u t r e s a n d e q u i p m e n t a r e c a c o u n e t d o f r u n d e r a c c o u n t n i g p r a c i t c p) re ev se cl ip r bm eden ot r.T peh ro ms ie tp er t dac bt yce ts hp eer Um. Si .fo Dr et ph ae ri tn mc el ns tio on fin Hl oa und i, s ns gt ac nt dur Usra be as n I o i l u r u e n ec qc uo iu pn mti eg ntp cr ei rc ti ap nle i cs o. sW th the an ta as rs eet noa tepr et mi id f teo dro ut nh de er ri gs end ei rp ao ls yed l aco cf e, pa tn ed d a n n s r e re w e s y r t o l s ef l e n o h p o i n e re es pu al ii rn cg og sa ti sn ab ro er cr hs ae gi r et dr ar ge ac it nd si ti il ni cn oc mom ee ah sf tr ht eo ye re a er id nc. uM nN ea ' di .l Sna gn i nc ie il f ca an nd t r e n e w a l s a n d e t e m n s a e c a p a t i e z d . T e r e c r d s o f l A O d o n o t a o w f o r a d i c s l o s u r e o f h t e m j a o r c o m p o i s t o i n o f l a n d , s r t u c t u r e a n d e q u i p m e n t Dtr epc ru er ci as ti onnde expu ep nm sen haa sre non tbeenpa ot r ve id dei da oc ncor gd ea nn ec re aw li ih f xeg den ae sr sa el s. t . S n t y accu ept lee daca counq tini gpre int ci pl es.otdepreci HOUSINGW AUTRI tOEA R1TS YL OFU NS EWIAN OA RI,EANS NOTESTOTil"COMNE P, INO I: I)FL ~ INAN NC, IAO l.STI ATI ;MENTS,CONI' INI 1I' I) ; O g r ~ a n i z t a i o n a n d S u n m l a y r o f S g i n i i f c a n t A c c o u n t n i g P o l l Conti nue d: l s u y n ve n o m t viti esin cA on jN uO ncth ia os nwbe te i hna tn i sd mi odc err ne zn i at tl ioi nv ao ndl dd evi elv oa pr mi eu ns tdpe ogol r ai r mio sn .acti n I a c c o r c h t e t nLa n a u n d . "s As ce ct out nd ta nn i ge fw ori tt ho eS ha nt pm aie mn r eo nf ti oF fi onc gi -l LA it vc ec do An st si eg s9S t at na dnd oa f rr Ls oN ngo -. l1 i2 ~ va e1 d A s o b e D s i p s e d O f ' w h h c s i e f e f c i v e o f r 1 9 7 , H A N O h a s t S p e 1 z n h a n i a s c t , me i pt am ci tb oe fr t3 h0 e, d9 e9 ma7 or ie l tc oo i ngn ai ce id t vv ii ie t et se .e Uac nc do em rp hn t ey pi rg oe vf sn i ia on nc si ol ft ta ht em sm tc an e| t ms eh ne t, o l n g l v e d a s s e t s r e t o h e e r i w d o f r i m p a i r m n t . I f h t e s u o f t h exn pim ep ta c ei dr fm ue tn ut rel cs as shs lou f owl sb se i lr ee sc so tg hn ai nz te hd e. carryi ngvalueamountoftheassee , t a o h d Fi xedLiabil it ies Mer am jorn co at pe is a, t limt pl oI r v) eman ed ntpH rA oj eN cO tswr et ei r id f nant ce es de bynio st us int gh aro eu s rg ih esoA fn sn hu oa rl t t U e r e h e b o r ct e i n o m A t sC eo gn rt er gi au tt ei dn bc eC tu wo en et na us ra es r ni tf at nh df nn ona cn uc ri rg ea nw te pr oe rd il t on ng sat ser et r q. ul rm i el do bu yn gs ea nr ee rn ao lt y a c c o n t n i gcp i r n c p i es l , b u t i n c c o r a n c e w i h t U ) pr e c s r i b e d pc ae r cp tt ce i ed s.a I t 4 U n p e s gan In ntS ee np r ae lm Reb ve er n1 u9 e8 Se, rI vI ceD i rs uu is l np ge od ne td het th ae xs -a el xe eo mpf tr to s ai tc ut son fo tt he ep ne on ed t si .n DeferedChar. K~ ~p I e e e s n eequi pmentarerecordedat cn ove tn s uto ir s ni gst ho efs iu f rp st -l ii ns i,m f sla r -l or ui la ml eta hod de .xpendabl HOUSI NGAUT ttORAI TY,O FUNE WO RLEANS NOTESrl 'O" I' HI~COMNBEW NEO I DRFLE NAN I NS CIL AO l,SI TS AIA TN F, MAI' ~NTS,CONTI NUF,I ) NOTI' :1-Or aanizat ionandSmnmarvofSiani fcanlAccouminePol ici es I)c btServi ceFunds H ' n e s n s r y I) b c i u an rA cN ai mO os ub no tn sn od na dd eo pn oo st te i wd tb i ht ia f sr cc aa ld am gN ei nti st oe re dd uo eb f! oI r mU I. UD I De ots t pe ar yv pe rs nf i cn id py as l a d n t e e r s t o th e b l g i at i o n s o f l A O a n d f rs u c hot h er pu p r o s es a m a b e p o r v i d e n a o b o t n o U bm aso eu dn ot nwt hd eei maa xn in mu ul mc an nt nr ui au lt ci of nn tc ro bn i ut tr ia oc ns d. uT rih ne ga tm heo iu f ct s ad lu yne af e rr .m Tu hl et ad cI t) ui as l a h n e r c e i v e d m y a d f i e r d e p e n d i n g o n h t e m n o u t r q e r i e f o r paymentofinte restandpri ncipal. FundBalance F u n d b a l a n c e i s e r p o t r e d n i t h e p a p i l c a b e l a n n u a l c o n r t i b u i t o n c o n t a r c t o t indi catetheamountes tabli shedf oraspecif icpur pose. SelfInsuranceandLit i~ ,ati on l l A N O r e c o g ni z es l o s e s s r el a t ed o t s e l f in u s a r n ce pr ogr mos a a ndl it ig ati o n b a s e d o n t h e a m m a l b u d g e t o f r u s h c c l a m i s r a t h n m e lr ai i bc ii ip l tl ee i ss esoccur,asrequiredbygene er rt ah la ynr ae cc cer pd ei t dgae cs ct oi una tt id ng p n .whenloss AnnualContri butionContr acts Aud mi mta an ld Coe nx tm rn bui i te iot nCer oe nc to ar r cd ts spo rf op vu ib dl ei tc hh ao tu Hsi Un Ig )sa hu at lo lr hi at ve es t. hA eac uc to hr ori ig yly t o, t a n h h i d n i f a c m n f f n n b ta h An nl nc ud ae lt Cr op ni ra t it bi uo tn ob i no CH oA nN rb t aO cI t' ss si han t ec ri eg spa on nd sic bo ln i tt i yri ou fti to l UnDs bl au ss ef dor upt oe n i f na n i a l re o r s t s u mi tt c d y t Ai NO . HOUSINGA UTRHO RITY OOFN E OR LEANS SW A NOTF, STOTIECOMNE BIW NO H)FL IE NAAN NS C, IL AI~U STI AI TN EMAFNTS,CONTINUH) t wofSi gnif icantAccot mli n~Poli c Conti nuz ea dionandStmmaal lotalColumnonFinanci alSt atements T h e o l l a l c o l u m n s o n t h e a c c o m p a n y i n g i f n a n c i a l s a t t e m e t c r i mna " emci orl na a duy msi on.S y"ch l toa na i dii can ctc l ham ttha ea ybl art cpra esen nto edn os ni ya l toca fp ct a io ln |e i ad e t i f da c r i f m d el imn inaa ti on nsal havs enu otbed ent ms adeot no i hep t agr grce gao ionco t ofs lhl si i dt at ao .n,lnt Cashand" rcm~orarvCas hInvest ments l t A N O ' s c a h s a n d e t m p o r m T c a s h i n v e s l t n e n l s i s c o n s i d e r e d t o b e c a s h o n h , n p t d f t it.HANOmayi nvestin pa in r md ad ie r ym l Ua Sd . ,d be o io l gs ai ts ona i sn ac se dr it ci atc t ea de bs yo tf td }e , 1 1p )o .s Bndgetar yInfor mati on A n n u a l b u d g e s t f o r t h e s p e c i a r l e v e n u e u f n d s a n d t h e g e n e r a l f u n d a r c a d o p t e oh nc ac na ai nt na ul af ln bad sb iu sd cg one ss sa i tr ee nta wd tp i ht gd eno en raa l" yp l ao cj ce ec pt el t dn ag ct c" oub na ts ni i g. pri ncipled s T p u t o e r e h s nancialRe i oor lineEnt it ~ G o v e r n m n e a t l A c c o u n t n i g S l a n d a d r s B o a r d ( G A S B ) S t a t e m e n t N o . 1 4 , " t h Fan nd i ar ne cp io ar lt Rng epo on rt ih t ne gEf na ln tc i yi ,a (l Ge Ant St B. 14)"establi shedsl andardsf ordef inine g i in i y 21 N WU O) RH ERA AI NTY SI ,O LF O~ UN IA SW IT AO NMR ALL NOTF.STOTH IO 1EU CS OI MNG BEA N 1 ET I FLO N I N C A I SE T E :E NA TN S,S CONTI NUI'I ) onandSmnmarvofSimdf icanIAccountinaPol ici es Coman ii nz ua cl di Financia lRenorf in~Enti ty,Cont inued G A S B 1 4 n i d i c a e t s h t a t i t m f o c a l p o n i t b l r d i e n t f i y i n g l h c i f n ci l e t n eo nv te tr i ynm isen ht t eo pr rg ime an re yr gop vu er rp no mse enl to ,c wal hg io cv he sr i coe nn st ido er rea da on t ba elr ap no yr si ag t te e g al n m s pe c a i p u r p o s g h o h b i r y e go ov ve er rn nm il ne gn bt ot da ym ;be )e it ss la gll e alf yt se ept arl ao ewi t cn )g isc ir f st ce ai la y:a n) i dh ea ps ea ns de ep na tra ot fe ol he t el rc st ae t td e a n d o l c a g o v et n r m e n t s . l l A N O w a s e s t a b i l s h e d a s a s e p a r t a e , l e g a l e n t t i y w i t h a g o v e r n i n g b o a d r w c e nd hergovernment al"r eporti ng enh ti th i y"is ass dp ca ir f na ct dea bn yd GAi Sc Bpc 1n 4d .entofanyot Aep co cr ot dng r nge i ln yt ,t ani ah gi emth ee nm te ha an si oo nf clt ue dep dro tv hi ai ton Hs Aof NG OAiS sBt1 h4 e.f inanci a r i i ym w t n nc g h s NOTI ;2-Cas ' handTemnora rvCashI nvestment s Ib .l oi ug sa i it ann as so taf eth t awUan l li oe l wdsS ala lt po, li te it ai c lic ubte s di vo isi od nspo oi t no i ves ta s xeco e ssn e imt f dn si nl o bn av ne ks st hio an vt n. i gt heie rpri nct ipalt of ies cec sir nLf oa ui sis anaf ore anys ott hef rft edt erar lyia ni so ura d e i m e So tl al tt ee lr aa wl ae ld sa ota el r ql ut ree i s. tA hac tce dp et pa ob sl tsco i ol fa at lr la pl oi la it ii t cn ali suc bl dd ie vs sF i ioD nI sC/ bF eS1 i3 f dC ly c a i z i m s e e z o n u i n s u r n a c e a n d t h e m a r k e t v a l u e o f s e c u r t i e i s p u r c h a s d e a n d p l e d g e d o t t pn olit ic cr at la si ubdp vil i st oi i nal .Os bub igi l at is oi no sosfa hr t eUa nl io tee dd Staa ess t ,e tc hu er Si tt at efo or fld oe ~ upo ss i ii ah ne a a s t Od bh li ge an ti ou nn sf fuo ni r it sc heb da an sksd cv e uli iu r ysn t nc mom se tp ba cn hy elw do byth hs t ec pc oo lu tn i it cy ao lf ut s bhe di vp io sl ol i ni o. r w t i a n a i i l a e d o r r l f r e a i c a ] subdivisi on. 22 G A HFL O RI T Y O N E W O RL NO'I 'ESTOTlt IO EU l CSI ON MNE BIW NUO ET DR IE NA AN NS C, IL AO lF .U SI TS AI TAN F. MA ENEA TSN ,S CONTINUED NOTI~2-CasharmTe mnorarvCashInvest mentsContinued A t v a r io u s t m e s d u i g 1 9 7 d , e p o ts i ne xc e ss of FD IC nsu i ra nc ec o ve ra ge w e r e c l l l ei r a i l z e dr b yn h t e9 s e c u i i ss p ei v y i r m A c c o uo n t ia n S t a n d r s B o a r d (r Gt Ae Br ,i wo hu is cl hd pde os r mc ub le gd a. eT t smh he t eG so av t ne dr an rn de sut oa f rl a n i g i n a i t n gS o f r) s a t t e a n o l c al g o v r e n en t s c o s d i e s r hc t ec so eu ll f mn dg sa un nd cf on la aa l td ec ri al ir l ze ep do .r E v e n t h o u g h t h e e s f u n d s a r e c o n i s d e r e d o t b e u n c o l a l t e r a i l z e d u n d e r t h ps ot r vtu st i io oW nsr oe fq Gui Ae Sm Be Sn tt ao en t mth ee nc tu 3,s Io od . uia sl i ib aa nn ak Rt eo va id sv ee dr Sti ae ua t ted 39se 12l : 29cp me i pd og see d a a r t t s s i i t t n ) e n o f d t pn os itorl hh t ilhcl a ise f cd al ae gu enr tl he as sw fai ih ei l dn oe t p( a1 y0 dd ea py os si to ef db ii f mg dsn ul pi oi ne db ey m, ah ne dd .e A l l b a n k b a a l n c e s a n d n i v e s t m e n t s o f l A N O a t S e p e t m b e r 3 0 , 1 9 9 7 , s o m e o f w h i c h b e r a n i t e r e t s , a r c e n l r i e l y i n s u r e d o r o c l a e l r a l z i e d w i h t s e c u r t i e i s h e ds l b y t i s a g n e l i n I | A N O ' s n a m e . C a s h n i e x c e s s o f c u r r n c l r e q u r i e n l e n s t i nvested. i A | S e p e t m b e r 3 0 , 1 9 9 7 c a h s a n d e t m p o r a r y c a s b n i v e t s m e n s t c o n s s i t o f h t e olowing: f p S e c a i l n ] e t r es G e n r e a l R v e e n u e A g n e c y R l a e D er m a d n ds po e osi ts$5, 091, 050$1 ,509 ,54 3$622, 860$7,22 3,45 3Var io usN/ A C e t f i c l e d p s o la f M y m ar kef l ao cn oe c u s 0- -0- 53A41 5 3,441Var iou sN/ A Jn " ot ' ac t ]t n i v s nen l ts$8, 091, 050$1 ,509 ,543$j. 478, , 633$. 11 ,07 9,22 6 HOUSINGAUOTI tOR 1TY OF NE WO RLEANS NOTI' ;STOTI1ECOMNBEW INEDR FLI NEA AN NS C,L AO I LU SI TS AIA TENA MI' ;NTS,CONTI N[JH) NOTI ;2-Cas . handTcnmor arvCashhwestmenl s.Cont inued T hcei nv es tnl enl ar eca le gor izedasCategory k t t1. waA sls $o 7, ,a 2l 2S 3e 4pt , 5c 3mb ac nr d3 h( t e1 b9 a9 n7 k. bh alac na cr cy win ag s$a 1m 3o ,u 5n 37t ,o 1f 16.HANO'sdeposi NOTI ;3-Account ' sReceivabl e Account sre ceivableatSeptember30,1 997consistofthcfoll owi ng S P E C ALRl I E V E N U E FUND S o l u s n i g C e r i t i f c a e t A s s s i t n a c e V o a c h c r G e n e r l a P r o g a r n l P r o g a r n l P r o g a r m 2053 FW2201 FW2217 qota !: und FWT e na nb su t $1 2 9 6 1 , 4 6 0 $50 $0 0 -$12 9 6 , 4 1 6 t o I m c y e r s 2 1 5 , 8 4 0 0 4 I U I ) I , 7 7 5 6 , 7 1 0 8 1 1 24 72 , 81 9, 05 , 28 4 M o d r e n i a z t o i n p r o g r m a . 1 0 4 4 5 . 7 4 0 0 0 -1, 0 4 4 , 5 4 7 OS tl ht ee ra in ( nd cF ue l dd ie gra n var ious2,550, l 416 488,104 -0- 82,9003, 121, 420 ota s l C S e ) Tr oe te ai av l ca cl oe unt s ~ c b $5688, 391 $488,104$5 ,811 24 HOUSINGAUT ItOR 1TY OF NESW OR LEANS NO' I' ESTOTIlECOMNBEW NEO I DRFLI NEA AN NS C,L AO I lU ,SI TAIA TN EMAI~ ;NTS,CONTI NUI ;I) ~ N( )TE4-])ueto~ Fr omOtherFunds hlt erfundac tivi tyatSeptember30,1997consi stofthef ollowing lt )h ue er fF rou mndsO Dt ue er 1F ounds O h G e n e a r l F u n d $ 1 , 2 1 6 2 , 1 2$1,867. 933 Spec a v u : Ci rl c lR fe i ce an eu t pe oF r gn ad r mes -r Fo Wgr -a 2m 05F 3W-22011,586 9, 650 , 24 51 27 30 06 05 , 34 I t o u s n i g a s s s i t a n c p Voucherprogram-FW-2217 1.117. 676 1.661, 393 . 7 Totalint erfundr eceivable s/payables$ 3,930, 017$3,930, 017 NOTF5-Of ll erAsset s Ol hcrasetsatSeptember30,1997consis toft hefoll owi ng Spe ci al G al R Fue nn der Fe uv ne dn sue Total Pra et par idl inn sur ancp ement $ 23 74, 42 , 56 $0- $1 23 74, 42 , 56 M 2, 1 Ot hee ria asa etd sequi 157 %1 023 9 40 00 2, 157 91 423 , $2. 570, 608 $ 4 0$ 2 5 , 7 1 09 , 8 25 ItOUSI NGA UTRHO RI TY OF NE WIAO RLEANS NOTI' STOTII ; ECOMNE BW NEO I DFLE NA I AN NS C, IL AO LU SI TS ATN EMAF. NTS,C()NTINUI~I ) NOTI' ;6-l. and,Struct ur esandEoui nment T n s u y hegcncralf ixedasset saccount gh re ouf po dl uow ini r ggt hi ea iss f cm all yn ea ar r:ofchangesint B a l a n c e B a l a n c O9 c9 t6 ober1 Addi S9 e9 p7 temc ber30, 1 ti onsDeducti ons1 ] a t e. qn ud, ps i mtr eu nc turesand$; 340,395, 442$29, 897,834$58, 695,837$311,597, 439 $29. 897,834$58. 695,837$311,597, 439 lu lr Ai Ng O1 r9 e9 c7 e. ve i dHA apN prO ovc ao lm fr op mlet Id Ud )es 1 ot f rr tu hc et dn emo of lit ih t oe nost fu ec s vt eu rr as lsw rui t ch turn s e d n e i o r e e i edcarr t yingvalueof$8,395,107f ort imyearendedSeptembt era 30, 1s 9t 9m 7.a A t S e p e t m b e r 3 0 , 1 9 9 7 , t h e e s t i f n a t d e c a r y r i n g v a u l e o f a d d i i t o n a l s r t u c t u r es h t t ps o d i l i b t i o o o ae na dh ea r cv ee ib ve een ui s ba ip dr iv ese fd rf oo mr te lm Us Do it so $n 29u 1 8c , 7o 0n ,t 0n 0u 0e .t Mb ae nu as ge ed mf er no tp ne i tr ea nt di sns o t r d e h e n h t o whco er nit th ie sow tr het w-o r if cfo s df ett re e mse na i ds e tt hs ati ht t eh ae sp se er ti ho ad snt oefd ue um t reol vi ai un l e.occursor 26 HOUSING AUTHOER ITY OLF NE WO RLEANS NOTESTOTHECON ME BW INEODRL FINA AN NS C,I AO LU SI TS AIA TEN MAENTS,CONTINUED NOTE7-AccountsPayable AccountspayableatSept ember30,1 997consistofthefoll owing H o u n i g C e t r f i c t a e A s i s t s n a e c V o c u h r e C p a i a t l Gu end ralF e PW rg2 o a0 r m3F PW or g2 a0 r m1F PW or g2 a1 r mpu ~d r ec~ F Au gn ncy e F 5 2 7 F n d 1 0 , 17 ,3 9 6 2, 64 , 6 ,0 0 9 01 2, 315 2 9 1 2 1, 514 ,, 5 84 . 7 1 49 97 05 012 04 . 6 7 Tot l c unt s_ 09 ,2 9 67 3 1 " 15 4, 05 $, 6= 2 7~ 784~ . $0 117. 36 9$121 6378$ 6~ _ 6~6 aa p ya bc a eo l 9. $ 6. _ 9_ 8. 75$L 6 .3 .$ .2 _' = : NOTE8-RiskMana gement ln ld Ad Nes Otr iu sc et xo pn oo sef das oet t vs af ro or i uw sh ri ic sh ksH oA flN oO ssi rs es ae l tl ef di tn os tor rd s;f t tr heg ten f oe fr ;l dl ai mb agi ei o, t a i u e o a a l t y w k r ' m n at n l il e e d a n t o lx lo Ar Ne Os it sc ao dp ef ee nO ds ni a to nc i va ai rm os i u, sf er g1 aa ln ad c0 te ox i nt .n s Le ed gJ ac lo cv oe ur ng se es l. e8 t] s iH ma ad td esi ti hn at e p o s u r e o l l A N a p p r o x i m a t e s $ 1 , 0 0 0 , 0 0 a s o f u l y 2 8 , 1 9 9 . A N O s ' p o l c i y i s t o e r c o g n z i e l o s e s s r e a l t e d o t t h e s e l f i n s u a r n c e p r o g r a m s n a ls ti i gm i atit od nbl aa sb edli oi le thw eannuao ls bs ue ds go tc e fc or r, sua cs hre cq au l ii mr sdr ab ty heg re tn he ar na rl el coa rc dc nc i gpt he t ed e u e y d act coua ne ti ngi prii nt ci pls es.henl 27 NGB EA WNU RF LO EA AIT NY S,O LF ON UT IE SW IT AEO NR AELE NOTF.STOTH iO ll 'U ;CS OIN M I EOT DH IR N N C A I L S A M NTAN S,S CONTINUEI) NO'Il .9-Accr : uedl. iabil il ies Accr uedli abil iti esconsi stofthef olowinga tSepte mber30,1997 G. ne e ra l m Gun nd e eral 1 Don bg e tAte ccl ount F G o r u p A c r u e d i n t r e e s t o n nr ou le ed su at ni dl bt oe ns de sxpens 02 -$ 1,319, 45 1 $1 16 31 , 9, 1 ,43 51 A c i i e 1 , 6 1 4 0 , 3 0 -Ot herl a i b i i l i t e s 3 2 6 2 , 5 9 0 - , 324 6.0 252 9 Tot a il l aa bc lc i tr i cu i sed NO'I 'I ~10-Fixedl ' .ia bi li ties Tc har ec fn old oe l wS ne i gpt ie sm asb ue mr3 m0, a1 y99 r o7 fH:ANO'slongtermdebttrans actionsfortbc y d B a l a ne er1 c t, R a R e ia t e r n / n e l s , B a l a cebe n t30 a O t c o b e p y m e n s t S e p e r 1 9 9 6 a d n F o g r i v e e n s s 1 9 9t 7m Gl ne e eb rl a l L o g n T e r 1 n ) c c o n u l G o r u p : PA q r i e t c l o a n n o e t s $ 3 , 7 2 , 8 9 6 8 0 $ 3 7 , 2 8 , 96 8 P c n r l n a e a l n o e t s t t l / ) .376 6 Fe e i cing 43.878 bd ar na kl nf on ea t sn 36,068 Ne h u o s i n g uw a th o i r y l b o n s d 2 4 , 7 6 , 9 6 1 2 2 , 4 6 5 , 0 8 9 Tl oa ab t ll ii f xi es d i i t c $6,83 7,157 $69,1 80.27 28 HOUSI NGAUT HORAI TY OF NESW OR LEANS NOTESq' OTIIECOMNBEW NEO I IR )FLE NAN I NS C, IL AO LUSI TAIA TN I~ MAENTS,CONTINUE1 ; ) NOTI' ;10-FixedLi abili li es.Cont inued A d min is tra ivec t oan ro t lo ve r il t edco nso li da te dcf in an c ing proc es sis v es led n i I U t r p n e i e u ct oc nD sd o. lH daA i lN edO ie sd sh ur es sl op fa hi s oc ri la tt ee rB mi nn ok ts ev se (r sa xl i mo on ns to hl mda at td ul il r |b co i sn )d .g Ais cs te vs i eoa dn ed bt i n u l e s h t e F e a F i n a n c n i g a n o t e s a n d t h e N e w o u s n i A u t h r i y t B o n d s . T h e F e d e r a l F n i a n c n i g B a n k n o t e s w e r e s i s u e d i n 1 9 8 2 a n d 1 9 8 3 o f r i t l e m o d e r n z i a t o i n o f t h e e x i s i t n g h o u s n i g d e v e l o p m e n l s . T h e N e w I o l u i s n A y s iging al cu od nsm rr t ui ct ti obo nn od fs cew re tr ae ni i hs ou ue sd inb ge dt ew ve ee ln op1 m95 e0 nt sa .nd1973tofundtheor Ta hr ei su es nm ot ea st nit a dbd oa nt de ss bl en al re nr i ts el ra en tdr s ap nr gi in nc gi rl f op ma 2,m 1e 2n 5t %so tn ot 5h 7e , 5s %eno at ne ds ha an vd e v o u r y , e p a y b o n d s a r e m a d e b y H U D n i a c c o d r a n c e w i h l l h c t e r m s o f t h e a n n u cr om ntr iI bl uU tD on.T i coh ni rs t ai cn tc sl .u Hd Aes NOt rep co or rt di sn allo df ed bte rt t ana sl al cc ia t ol ne sd npt oo nH hAeN t dO reca i tn va i el f o he o b o d a c c o u n t n i g e n r t e i s t o r e c o d r p y a m e n t s m a d e b y t l U D f o r p r n i c i p a l a n d int eresl . I ) b c t e r v c e an n u a c o n t r bu i t i o ns c ea s ed o ndA p r l1 , 1 9 6 f o r t he p r oj e ct o l a n o t e ss a n di h t e p e r ml a n e n t n t o e s H U D . U n c r hi t e p r o v9 s i i o n s o f h t e l o l u i s nn ga n d C o m m u n t i y D e v e o l p m e n t R e o c n c l i a i t i o n A m e n d m e n t s o f 1 9 8 5 ( P l . ~ 9 . 27a 2sa eu nt aco er t dz Aed pt ro lf i 7or ,g 9i 1 8e 6h ,te ) ho eu Sts ct e rn ed ti an ygp r ofr ln lc oi usa nl i ga ani dn Uer bas r nto Dn et vh ee lp opo mjc e9 nl t w p le oq au ni ne oh tt ee si ae nx de hu t et pn er mv ant ed ne lb nt otf ea sg -i 1v Ie Un De .i Ta hm ee Rn ed cn ond ct ilt ate i oh i ne Ao mn es ndr md et nc ts r r h c o i o f a o r s s m n e o t t c o i l a e d a l o b.ut io o ra . st m n s c ed J an nn dua Hc Anl Nr Oi tn I ac lr sn ot ec r qt uT reh i si ha ee at ud dm te i snt ah nda ab pe pe rn oo ve ax le ou ft hb t ey AH cI t. uI a) l D v e e o l p m e n t C o s t C e t i i f c a t e o r h t e A c u a l M o d e n r i z a i t n C o s t C e t r i i f c a e t w ch t et a l t e o e fo oh gi r ve i eh na es sn so oy "e 1 $t 3b ,8 7c 4n 5, ,c 0o 0m 0p nl i 1e 9d 9f 7o .r Tl hp er bo aj le ac ns c. eH oA fh rN eO mah ia ns inr gc nr od ee t sd od t bb ct f g v e n r inr eri t esn tow na hs t e$4 n3 o, te s62 o3 t b4 e4a ot f rgS ie vp et nm wb ae sr $3 70 7, 11 49 , 29 97. atT See ptb ea mla bec re 3o 0f ,1a 9c 9c 7u .ed 29 HOUSIN GWAUOTH ORAIT Y,OLF NIE WO RLEANS NOTF,STOT111, ;CON ME BINEDRL FIE NAN NS CI AO l,U STS AIA TENA MENTS,CONTINUH) NO1 "1 211-Compens , atedAbscncesPaya bl e H A NeO h asmes ta bli she dea pao ic l y inaa ( co rd an ce wit hSta te Cii vi l Se rv ice )to p y h o u e m i t ma ao xr na i mc nle ofp 3l 0y 0Ge hot uh rsi .r Tc hc er ce od sn ton fn cu ua rl rn el na tv le eau vp eon pc it r ve ir ei l gz en sa co on ma pu up et t do na i a h c i a o i c o 6 s i e s n yc ec ae rn ed xa pnc ee nw di ti ut rs eo iA nhS hB t er go od vi ef nc r mt eo nr aS t le ut f ni dd wC h0 ev n, ep l ar vn eog sn i ar ce td ue aa lt yo tc au kr er ne ot r w h e m p l y o e e r e i s a e r p a i d f a c c r u e l e a e u o r t e i e m n r d e a t h T h e c o s t o f l e v a e p r v i i l e g e s n o t r e q u i i r n g r e s o u r c e s i s r e c o d r e d n i t h e g e n e r a. l longterl nobli ga tionsaccountgr oup. H A N O s ' p o l c i y i s t o p a y u p o t 3 0 0 h o u r s o f a c c r u e d a n n u a l l e a v e w h e n ee mr on l ya et eo sn tea ms r in1 a, e8 t .8 A7 t0 S. eptember30,1997t otalleavet obepai dupon t mpi i w $ 4 , 3 NOTJ~ .12-EmNoveePe ns ionPl an Planl)escr ipti on H AN O h a s ape n io s n pnl anw hic hc ov ersa llf ull ti m t o f s e v r i c e . T h e p l y epe ae l nmwpl ho ey re ee bs yaf ne oro an cte uy ae ia r ar l deter minat ionsorvaa uati l osna i sam ro en me adep .urchas Fundin~Poli cy H A N O s ' c o n r t i b u i t o n a r t e w a s o n e h a f l p e r c e n t o f h t e c o v e r e d e m p l o y c e s sai an l Wcr uea ns ilSH t epA tN emO b' rc e 3o 0n ,t 1r 9i 9u 1t .io On nr Ot ce tot be5 r% 1,1o 9f 9th 1e , thc eo pve ar l ned we am sp mlo a ey ne de es d' o t e s b a o " s a . , r t u i r p e 9 e t ta ol $r 6y 1H 1T 5o , 7t 4al (c 5o %n oi fb ot t to an ls cf oo vr et rh ee dy ple ya a oe r ln ld fe od rS tw he ea| ym e1 ab rc er n3 d0 e, d1 S9 e7 pn ea t mm bo eu rn 3d 0l , 1 9 9 7 ) . A N O s ' t o t a l p a y r o l f o r a l e m p l o y e e s s $ 8 , 0 8 6 3 , 6 9 a d t h e t o t coveredpayrollwas$12,231, 480fortheyearendedSeptember30,1997.a HOUSINGA UTI tOE R1T VO FN E OA RLEANS SW A NOTI 'STOTI1ECOMNE ~IW I NO ~DRFL F INA AN NSC, IL AO LU STI AI TN EMENTS.CONI' INUE1) NOTE1 3-Conccnlr alionofCredi tRis k ll lo Au Ni On cn r cd ciU vr cb sa pn i) r mv re a il yp l an le ln of( t1 i srD eve. nI uet se ra f omo ht t eUf Sv . .e Du eps are mc ~ei nv lod f } h e rv f oms lg Ua )ff l fe ac lt b. el owe l cro ti i caa ll cv1 I clU s,H) ANf O' sm opu en rao ingr t ren ue s tscr l oue de l be ad er se l ya cd NOTI:1 4-SubseouentEvents Suv be sl co qp um ee ntt oI t yeD a) rer ndm hee t U.A S.N Depf ao rm tmei ns tl os fo to" uT sr io nu gb ae nd d" Uu rbl ac n D U Ile om ue sa is nu gr Aen ub ho( t rI iI iA t eN s(O P}e Ao t sv )b pl rd mHl i ao ru ls i yO rn cg sr ul ta in na gt fe omi r me Ht Af Os 's sm ml i pn rl oP vP eo mgb ei nt s a s d y t s ' P u c i t i M g nt AN s cs c r a r m P ( M ) o o h e d e t 0 e e n n Il l UI )O l .A OP us rc dr se i cD uf sr ss it oe nl sy wa ir he t mn ac nd ad gS ee mp em nA tb he ar vo e3 i, n1 d9 c9 i a7 tt ea ds hd t et rr el mpi oe vd at lb oy f l A N i f o m 1 ] U ' l s i o f T " o r u b e l " P I l s d e s n o l a l r e h t e c o o e r a i v enp do ei at ve od raa gc ro en ems el na tn wtt to i hdi hr t eec Ct iy tyo ove fr Ns ee wth Oa rt ld ea ai nl suo np de er ral wo hn is chof 1H UA 1 DNhO ae s, p a n u t l e y i n i n i or ve t hc t elu od r eyg l om fto hn ei Bt oi an dgt r oh fe Cwoo mrk mp ic sr st ob i nr em re bdeb ey lt vhe e aE edxe t rc f ou mti tsD i ci ur re rc nor e tn ao dr vi sw oi rl 3, c p a a ci t , SUPPLEMENTARYINFORMATION Mt ~C HI O AT FJ Le Br BI Hv Ua NO Co PR An A D [ l [ V { A I N J C A ' [ D O J M O ~ E { I Jl R C P APA INDEPENDENTAU I FORS'REPORT OY N)I SUPPLEMEN' i' AR NFORMATI I ON T he a f s to I ow ut inB s go Ar ud ho t oC ro tm i yin ol fi Ns ei won Oer rleans N e O r ea l n s, l, o u s i a n a O u r r e p o r t o i l o u r a u d i t o f t heN gen e ra lp nr pos ca in f an ial c ta s le me nt so ft le i lto us ng i A u t h o r i t y o f N e w O r e l a n s ( H a e h pul~oseofforminganopini onA ontO il e) gp cp ne ea ar r ls po un pp r osg ee i1 f n. aT nch ia at la tu s ad ti et mw ea ns tsc to an kd cu nc at sd al wb hr ot ee l . Tf ha edd ai ct oon c ma pl aa nn ya il ny gs Sa cs hr ee dq uu li er od fb ~y 1 xU pe. nS d. iO uf t rf cc se ooff FM eda en ra ao le Am wem ara dn sd isB pu rd eg se et nC edi t bul t ra pr uA rp1 o3 s3 e, s o i i s e i r c " A u d i t s o f S a t t e s , l o , c a l G o v e r n m e n t s n a d N o n p r o i f t O r g a n z i a t o i n " s a n d s i n o t a r e q u i r e p, ap te r od fi hu t er geo nf eF re ad le pa ul pA r os ea is f nh aa ns cb ae i le ss au t tb ej me ec nt s.t t Tt he ea nd i ti ot rn mg ap tr io oc ne nu i te hs ea Sp cl hi ee dd ui ln et od f " I x n t e s r w d r n d e o h u i d r p h e a u d t i n f t h e g e n e r a l p u r p o s e i f n a n c a i l t s a t e m e n t s a n d , n i o u r o p i n i o n , s i f a r i y l p r e s e n e t d i allnater ialres pectsinrela tiontothegener alpurposef inancials tatementstakenasawhol cn . T h e u s p p e l l n c n t a y r n i f o r m a i t o n ( E x h b i i s t ) w h i c h a r e p r e p a r e d i n a c c o r d a n c e w i h t g e n e a r l l ae ccee pt ee da acp coq uno ti nc gf pra ncc i ipa ess l ,a ht asme bet ena sud bjen ct edur op t thn eo pn ro, cs edf ui rel sas pa pt le edn i na i tll caudi!a oy f h t l espg r ecn tsr inl reu la) ios t nt oin iln t egi enl ert ale purn pos sen ini f ano ci also tai emi t enti sta akr ey nast awdhi ol el .materi 650S.PI ERCEST./SUITE203,NEWORLEANS,LA70119(504)4828733FAX(504)486-8296 INDEPENDENTAOUI ITORS'RI, :I 'OIT N) SIlPPLEME Y (N CT OA NR TI' NI UN EFO D)RMATION T hc su pp cn l m nt ar ysi nl brm ti a on (S ch ed ul es llU Der Ba si s) wph i cha ar cp r ep are dco nl a C c v n e i i s ho an sa bp er ec nh sn us bi cc j c, tB ca dsi oo t tf heA pc rc oo cu en dt ui re eg so at ph pe lr it eh da in ni tg he en aa ul dl iy ta oc fc te hf et gd enc rc e ao lu pun ut pn r og sp cr in f nc ai np ce a, i l t s e a d n u n o c o e f e n u n d a c c o n t n i g , f a l i t i i e s aa qt c um se i in it t os nl nn a doe / ri cm ono tr s rt uo cp ii t on ni ,n p, rt or i rx ,e ) cp at rs af jr d usd tmf nr e sn t ,c ie ns vt ei s m t e n s t , a l o l w a n c e f o r d o u b l t h a c o c u n s t , o n g t r d e b , l a d s u c t u r e a n d e q u p i m e n , a d rl e e p i t o d e em alat r fe ur na dl s p e t U be i a y a nf i l er r ss pe en ct te sd ini rn ea lc ac io t or nda onc t he t ew gei nh ert al lpI u) rp pr oe ss ec lr ni ] ndcp a ar i la sc tt ac ee t ms, ei ns tn sf ti kr a ec ns at st aed wf hi oa el l .l B R U N O & T E R V A L O N CFI /TIql gI)I' I. JBLICACCOUNTANTS July28,1998 FI [DPUB LI CACCOUN1 AN]S Ter val onCER1I ~2 3 L M ~ C d,d, &d, o, '~, V~ 0 0 0 0 SCI1 E1 )UI At11 tt O N I G A U I I RA 1 Y O F N E W O R R S OU, MS BN IE NU EW DO BT AL LO AE NN CT E, SL tO tI EU EI TS -I -A HN UNA DI B.E AA SIN SS AC1 A AN N A l ~ C O N T R I B U T O N C O T R A C T S Sl~ Iq'EMI 3ER30.1997 P l A I Owned Le a n d a s e d a d H o m e o w n hi pl n s a ot al PW rog1 a1 r m90 sers Pt ro ou gs ri ag mn sA Fs Wi -t 2n 0c 5c 37 ,T ( F F W 2 2 0 1 Fs W 2 2 1 OMne ym l )orandum ASSETS C a s h a n d e t m p o r r a y a c s h i n v s e t m e n t s $ 9 , 5 6 9 7 , 6 1 $ 1 , 5 0 9 5 , 4 3 $ 1 3 Acu cof ur nm tso rt eh ce ir e va am bm eal l 3,907,1 04 584, 357 4, ,0 47 99 1, 40 , 64 1 D e o o c n t r b i u t o i n c o n racl t s 3 0 3 4 , 6 8 2,713, 8 0 5 3 , 0 1 7 2 . 7 3 l c ) b t s c r v c i c u f n d s 6 , 4 8 9 , 2 1 2 0 6 , 4 8 9 , 2 1 2 1 c ) f c r c r d c h r a g e s 2 , 4 1 1 2 , 0 7 4 0 0 2 , 4 1 1 6 , l, and,str uctur esandequi pmcnl 355,436, 269 399, 604 355,835, 80 77 3 o l a l a s e t s $ 3 7 8 , 1 1 6 9 , 3 1 $ 3 8 3 , 3 2 4 6 , 4 0 IABIATI ESANDSURPI. US D e u o 1 o t h r e n a n u a l c o n t i r b u t o i n cc oc no tu rn at ts c sp $3, ,0 1 06 20 8, 53 , 45 9 $1 2, ,7 03 61 2, 00 , 8 4 $ 3 , 0 9 0 6 , 3 3 A a y a b e l 3 2 3 4 . 7 9 1 5 , 3 A c rt ua e dd ls ae i b iu lr t i ey i sdeposi 26 5 9 , 4 7 2 0 ,5 26 5 9 7 , 48 2 T ru s n c i t ts 63,5 4 3 , 4 4 0 4 3 , 4 4 D f e e s 1 5 0 , 7 91 19, 3 1 63 1 7 0 , 0 1 Fie xe er dr ld abc i ir id l ii t et s 9 _ , 1 8 0 2 , 7 0 9 , 1 8 0 2 , 7 77,108, 320 3,795, 21 8 80,903, 531 8 3 0 . 1 0 0 8 6 , 1 1 . 1 4 1 2 4 . 9 1 3 0 2 , 4 2 1 , 0 1 2 Totall iabi li tie sandsur pl us $. 3_ 7_ 8A16, 931 SeeI ndependentAudi tor s'Re portonSuppl ement aryInf ormat ion SC E1 ) I V agl el oU fL 2EI It OUSI NNG I T ANS P EEA WUT OT Rt LO ER AI NOY S,O LF OAN UE ID SW IE AO NPR ALNE COMBI NED/ S T A T E M N O F I N C M E N X E S E S I U ) I B A S I S AOR LLTAI NE NY UE AALR CE ON NDTE RD IBS UEP TT IOE NMCB OER NT3 R0, A1 C99 T7 S " 1 7 A w a1 nI dO Il co , au ss en dg aA ndss 1 o l m eo wn ne ed rs hipI i is an t ce,T ota lu P o m m Fr Wgr -a 1m 90s P 1 Fr Wog -r 2a 2m 0s 1FFW W-2 -0 253 17( OMne y)orand l Ope r a i t n g i n c o m e : I ) w c l i l n g r e u a t l $ 1 0 , 2 5 1 5 , 5 8 0 $ 1 0 , 2 5 1 5 , 51 8 N o n d w e l n i g c r m a l 1 0 5 , 1 1 0 1 0 5 , 1 lut e st on op er at ing es er vent ar ne d l u nr v m 3 1 5 Tg oe tn ae lr oa pef an r td ngi i ne i cs ot me es 10.4 63 94 6, 48 . 56 5 1 10 03 3, 17 . 76 6 1 0353 97 9. 66 , 32 1 OpA e a i t n g e x p e n s s a o 8 0 8 Tr cd nm ai nn ti st er rt vi cu i ee ss: 17 1, ,1 84 91 3, 09 , 45 9 0 - 17 1, ,1 84 91 3, 09 , 45 9 U i t i l t e i s 3 , 3 5 9 2 , 7 9 0 3 , 3 5 9 2 , 7 9 O d r i n a y r m i a n t n c a u c e 1 2 , 6 7 6 1 , 8 6 0 1 2 , 6 7 6 1 , 8 Pre on te ca e tl ve i ep se er vs ie ces 10,8 598 1, 56 , 29 3 1,739, 07 - 12,5 55 98 1, 56 , 26 3 G 8 Ilo on ur io s nu gtx se a sin ta s ai nn ct en pa an yc me ents 81 05 - 18,0473 39 , 24 18,8 09 43 72 33 , 26 4 N r n i m e 93, 73 0 7 , 67.161. 255 7 T o t a l o p e a r t n i g e x p e n e s s 4 7 , 3 7 4 5 , 3 6 1 % 7 8 6 7 , 2 1 Opi ec ro am ine t ga dn ed ic f ca tr i bg ee fs or eot her ( n h 36, 678, 081 ) (1 9,683, 545) ( 56,361, 626) SeeIndependentAudit ors'ReportonSuppl eme ntaryInf orma tion 42 S l J) P( a? gl eI 2~ oU fI 2,EIV I O U S I N H R Y E A N S NG EEA WUT OT RF LO EAI NT S,O LF OAN UIE SW IE AO NIR AL COMI ~INEII ) S T A T E M N O I N C O M E N D X ' ; ' I N S E S ] U I ) I B A S S I AOLR lT .AI NENY UE AALRCE ON N1) TE RI I) BS UEP TT IOE NMCB OER NT30 R, A1 C99 T7 S F P H A O w n e d al nm deowners Llo au e ss ei dg anA dssi l o hip] n st nc a e,T ot alo P g a g 2 andum Fr Wo -r 1m 9s 1 0P Fr Wo -r 2a 2m 0s 1.F FW W-0 25 23 17( OM ne lm y)r Otherch a r g s e : -0 I. ns e l r e s t o n n o l e s a n d b o n d s $ 1 3 , 0 3 , 9 2 8 $ , 1 3 0 928 , I o s i f ' o m d s i p o s t i i o n o f n e pe nd able 467.342 -0- 463 7. 342 co qn upx i n la oe ' ln al lot hercharges 1 ,771, 27_ Q ,771, 1 270 -0 Ot herincomeTotalot 6 , 8 6 3 4 , 3 8 6 , 8 6 3 4 herincome 6,863, 438 -0- 6,863, 43 , 38 8 l)e ici f encyofr evenuesoverexpenses$(31, 585,913 .)$_ (19,683, 545) SeeI ndependentAudi tor s'Re portonSuppl ement aryInfor mat ion 43 0 O 0 0 0 Z O ~o C SCIIEDULEIX HOUSIN NGEWAUOTR HLOE RAIN TS Y,L OO FUNI ESI WANOA RLEANS C O M B I N I N G B A L A N C E S H E E T H U D B A S ANNUALCONSE TP RT IBEM UTB IE OR N3 C0 O,1 N9 T97 RACTFW-I 2S 053 LA48-EOP1-008I, A001-SRO-001TOTAl. ASSETS C a s h $ 6 8 3 0 , 1 0 ~0 I Au cc ofr c uo nt so eh r cee iva an bn lu ealcontri 88, 104 $~ 0- $6 48 83 8, ,0 11 0( 4 D r bution 14 cf on nt ram cc tst 359, , 50 91 230,034 1,589,60 25 D ], ae nc d,e td s ruh ca ur t rg ce ss andequipme nt 3994 600 . 4 -0 0- .399,4 600 4 Totalasset s ABILITIESANDSURPLUS I)u annualcont ribut ion $2 ce ot no ro t at ch te sr 39 0, 03 , 34 $230,0 -04 - $230, ,06 34 A o s e 1, 07 Dc ec eu f rrn et dcp ra ey da tb i sl 13 933 . 1 -3 0- 1,309 1.3 937 1 Totalli abil iti es 1, 311, 298 230,034 1,541,332 1, 619, 411 -0- ! ,619,411 Totalli abil iti esandsurplus $_ 230,034 SeeI ndependentAudi tors'ReportonSupplement aryI nf ormat ion 52 SCItEDULEX ]lOUSIN NGEWAUOTR HLOEA RIN TSY,L OO FU NIS EI WAN OARLEANS COMBININAG S T A T E M E N T O F I N C O M E A N D E X P E N E H NONR UT AH LECYOE NATR RE BNUD I TEI ODNSE CPT ONEM TRB AECR T3 F0, WS 2S 0753UDBASIS F 19 9 I,A48-EOPI -008IJ A001-SRO-001 OpI en at r tr ns i gio ncoo me e:at e ane dgt enn erap lfr uni dng nr i ves ee tr s mve ent s 80,916 $ -0 $ 8 0, 916 Totaloperati ngi nc ome 80,916 -0- 80. 916 Ope a r t n i g e x p e n s e s : Glo nus e ri e ag lea xs psi nta e ecepayments 14 s 1, ,7 30 37 6, 48 , 80 1 0 1 3 , 3 6 4 , 81 I n s n 4 0 - 1 7 4 Totaloperati ngexpense 16.043,961 ._2 14 6. 00 . 47 3. 98 . 60 1 -0 - ( O p r e a t n i g d e i f i c t b e f o r e o t h e r i n c o m e ( 1 5 , 9 6 3 , 0 4 5 ) 1 5 9 , 6 3 0 , 45) Otherincome 16,150. 496 -0- 16.1 50. 496 Excessofre venuesoverexpens es $187, 451 $-0 $_1 87, 451 SeeIndependentAudit ors'ReportonSupple mentar yInfomation 53 S PC at gt eED 1oU f2LEX/ HOUSIN GEWAUOTH OR IT Y O F N E W O RLEANS N R L E A N S , L O U I S I A N A CAON MN BI NINC GANT ALI YU SISI OFSUON RPLRUA S11F UDBA05 SIS FORUTAL HEYON EAR RB ENT DEODNSC EPTET MBECT R30W ,12 9973 LA4g-EOPI-008I, A001-SRO-001TOTAL Un1 r3 ea sl ea vn r ec dep Sc u/ rb plo uo sksatSeptember30 209, ( 441 ,776) -0-$(209,441, 776) D1 e9 f9 c6 i ie tm fob re yr e3 a0 r, en1 de7 d $ S e p t 9 9 ( 1 5 9 , 6 3 0 , 4 5 ) -0- (15,963, 045) Pro ( o i ov pi es ri tn a iS nf go rr e) sr ee rd vu ec ft oo rn y1 eo af r7 ( e n d e d c p c t m b e r 3 0 , 9 9 1 8 7 , 4 5 1 ) 0 ( 1 8 7 451) , Pp ( o r v i s i o n f o r ) r e d u c i t o n o f rd oe jd ecS te acf com unte fo3 ry, e1 ar97 ( 2, 209, 927) (170, 400)(12,380, 327] Oc tn hr ep rl cu hs anp gee sb nr i unr0 es er9 ved 1 s u 767.473 -0- 767, 473 BalanceatSeptember30,1 997 ( 237, 034. 726) (170, 400)(237,205,1 26) d S u n r l u s O n e r a t n i e R e s e r v e B1 a9 l9 an6 ceperbooksatSe pt ember30, 1, 099, 846 Po rp oe vr sa i it oi ngf or res re ( ede ucf to or i nt oe fy )ear 099,846 -0- 1, n v r h 5l 187, 451 Pe rn od ve sd i iv oS nep ot f rem eb s lfe -r n3 i s0 u, r1 a9 n9 c7 e 187,4 Cr ae ss ber wie hdr t awal sf romreserve ( 64-, 1 80 73_ ) (164,-80 7_) 3 BalanceatSe pt ember30,1 997 1, 122,424 -0- 1.122, 424 SeeIndependentAudit ors'ReportonSupplementaryInformati on 54 S EX1 PC aH geE 2D oU f2L I]OUSINNG A UOTH O R IT Y O F N E WI O R LEANS E W R L E A N S , L O U S I A N A CA ONMNU BINIL NGN ANALIB YS1 SIO OFSUON RPR I, US-T tUW DB2 A5 SIS FORA TtIECO YEATR RENUDT EDNSC EPTET MBAC ER3F 0,90 1 973 LA48-EOPI-008LA001-SRO-001TOTAl (esB ea rl va en dc Sep ue nr r lub so -o Pk rs oa et i ctS Aep ct ce oub ne tr30 m 658,460 $-0-$22,658, 460 Pp r1 o9 v9 s6 i ic ot na oc f ro rn ( et df uo cr ty ioe na or ) $22, f o r j e c u e n d e d S e p t e m b e r 3 0 , 1 9 9 7 209,927 170, 400 1 2, 380,327 Os tu hr ep rl cu hs anr go ej sc nt i rc ec so eu vn r ed 12, 767. ( 473) -0- ( 767, 473) p e a t BalanceatSept ember30,1997 34. 100, 914 170. 400 34. 271.314 CumB u l a i t v e t I U D C o n t r b i n i t o n al pe rbooksatSeptember30, 187, 1a 9n 9c 6e 1, 450 0- 187,171, 450 Bas i c a nn uea lc ont ri but on3e i ar ne dfor 17 50, 496 ~0- 16,150, 496 Ay je d ua sr te mn ed nt td sn tS oep ct ue mmb ue ar l ti v0 e, H19 U9 D7 16,1 c o n r t i b u i o s 08. 1 853 -0- 1 088 ~3 BalanceatSeptember30,1997 203A30, 799 -0- 203,430, 799 -0 -$_1.619, 411 SeeIndepe ndentAudi tors'ReportonSupplement aryI nformat ion SCHEDULEXl HOUSINNE GW AUOTR HLOEA RIN TS Y,L OO FU NI EWI OARLEANS S A N C O M B I N N I G B A L A N C E S H E E T H U D B A S S I ANNUALCONSE TP RT BEM I UTBIE OR N3 C0, O1 N99 TR7ACTFW2201 IJA48-0060-001LA48-0060-005TOTAL ASSETS C as hu $30, 122,8 153 8 A n sr ec i a ,3 81 11 1 $ -7 O6 -$ 5, 81 , 17 1 Dc uc eo oa r mt he t rv e ab nl ne ualcontri bution 5 c o nf r t ct so 6,504 -0- 6. 504 Totalasset s $42.626 $122,876 $ ~65. 5o2 ABILITIESANDSURPLUS(DEFICIJ D unet oot herannualcontr ibuti on $3 c r s 2 7 6 -7 Ao ccot uac nt spayable t 07 - $1 17 50 4, 07 . 526 $ 11 50 4., 05 53 2 Totalli abili ti es 377 324, 328 324, 705 Surplus(def icit ) 42, 249 ( 201 ,452) (159. 203) Totalli abili tie sands ur plus $ 42, 626 $.122. 876 $1 65. 502 SeeIndepe ndentAudilor s'ReportonSupplementaryInformation SCHEDULEXlll HOUSIN NGWAUOTR H, OEA RIN TSY,L OFU NS EWAN OARLEANS COMBININAN GN SU TAAL TECE MON ENT TROI FU IT NI CONMCO EO ANI NTI DL~ EC XTPF ENWSE2 S0 t1 tUI)BASI S I B O I 2 FORTttEYEARENDEDSEPTEMBER30,1997 I. A48-0060-001LA480060-005TOTAl. Oper n m Ia nt ei t rg eg si tn oc no ol pe e: atingreserve $ r a n d e n e ra $1, 651$2,092 4 4 Totaloperat ingi ncome _ 4~ 4] 1 1. 651 2,092 Oper a t n i g e x p e n s e s : 1 8 6 7 G e n r e a l e x p e n s e 1 1 0 Il ous ingass ist anc epayment s --0 1 476, , 15 , 52 Q 1,1 48 76 6, ,8 16 52 0 Totaloperat ingexpense 1, 662. 902 1,663,012 Ope rati ngdef ic itbeforeotherincome 331 (1,661, 251)(1, 660,920) Otherincome 1, 508, 699 1,508,699 Ee xx cp ese sn (s de es ici f ency)ofre venuesover $~. i52.221) SeeIndependentAudit or s'ReportonSuppl ementar yInfor mati on 57 S PC agH eE 1D oU fL 2EXIV HOUSIN T Y ANS NG EA WU ORH LO ER AI NT SF ,O LSF OR UNE IL SW IAO N-R AULE CAOM B N I N I G A N A L Y S I S O U P U S H D B A S I S N FN ORUTAL II ECO YN EAT RRI EBU NDTI EO DN SECO PTN FTMRA BEC RT3F 0W,12 92 90 71 LA480060001I. A48-0060-005 UnB rea el s rn vc ee dp Se ur rb po lo uk ssatSeptember30 a (8, 604,188)$(17,246,1 00)$(25,850, 288) D1 e9 i9 f c6 ie tm fb ore yr e3 a0 re1 nd9 e7 d $ 251) (1, 660, 920) (PS re op vt ir sv oe i nfo fr ot )h, r op9 ee ra ar ie t nn gded 331 (1,661, r e s e e y S e p e t m b e r 3 0 , 1 9 9 7 ( 3 3 1 ) 0 331) ( (Pp r o v i s o i n f o ) r e r d u c i t o n o f o r j e c l a c c o u n t f o r t h e y e a r endedSeptember30,1 997 ( 441) 222, 538 222. 097 Bal anceatSeptember30,1997 (8, 604,629) (18,684, 81 3) (27, 289, 442) Res r e v e d S u m l u s O D e r a i t n e R e s e v r e B1 a9 a9 l n6 ceperbooksatSeptember30 41,918 0 4 , 1 918 Pro o r ngres erve fv oi rs ti hn eb yf eo ar ro ep ne da et di S e p l e m r e 3 0 ,1 9 9 7 331 -0- 331 Bal anceatSeptembe r30,1997 $ 0- SeeI nde pe ndentAudi tors'ReportonSupplementaryInformati on 58 Sa Cge H2 EDof U2 LEX1V P HOUSIN GEA UOTH OR IT Y O E WAO R LEANS N W R L E A S LSF O UN I S N A CO B NAI I NG A NA L Y S I SN O, F U R P LI U SI IU D B A S I S AM N N U L C O N T R I B U T O I N C O N T R A C T F W 2 2 0 1 FORTHEYEARENDEDSEPTEMBER30,1997 LA48-0060-001I,A48-0060-005 Rcse v e Br a9 le ad nS cu epm el ru bsooP kr so aj tc St eA pc ec t mou bn et r30,$1 9 6 401,007 $559, , 788 $1,960, 795 P1 o r v s i i o n o f r r ( e d u c t o i n o f ) pn rd oe jd ecS te ap ct ce om ub nte fr o3 r0 y, e1 a9 r97 441 (222.538) (222,097) e BalanceatSept ember30,1 997 1. 401.448 337, 250 1.738. 698 CumBu t b ot al la ai nv ce eI pI eU rD boC oo kn st ar ti Sut pi e ember30, 7, 1 9 9 6 2 0 3 , 1 8 1 1 6 , 6 3 7 4 , 2 1 2 3 , 8 4 0 593 , Ba c b i or -0- 1,508, ys ei aran nnu e da el dc Son ptr e ei t mubt eo rn 3e 0a ,rn 9ed 1 97f 699 1,508, 699 BalanceatSe pt ember30,1 997 -7 203.181 18,146,111 25.3492 , ,9 ~2_ Tolalsur pl us( defici t) $42.249 $(201. 452)$. ~9. 203) SeIndependentAudi tors'ReportonSupplement aryI nformat ion 59 Sa Cge II1 EDof U2 LEXV! P }lOUSINNG A TRHO RAI T O F NE W O R LEANS E WAU L E NCY S L OU S IA N A COM T A T I ON O F NO N U A L O, N T R II B U T I O N EA R N ED A N[) 'RP t OU J E C T A C C O U N T O P E R A T I N G R E S E R V E C t t A N G E S AN FN ORUA TIL lECO YENT ARRI EB NUDTI EO DNSECO PTN ETMRA BEC RT3F 0W,12 90 95 73 LA48-EOP1-008LA001-SRO-001TOTAl. Max mau m Cmon tr ibu o l e Mi m ut ai ln coA ntv ia r bi ua tb ol i n $2 ao ux ti ht ou rc iza dnn e 8, 360, 423 $170,400$28,530,823 Pr e n e bj gc e na i nic no gu on ft ib f sa cl aa lyc eaa rt 22. 658, 460 -0- 22.658460 To t a l a n n u a l c o n t r b i u t avai labl e ion $51. 018, 883_ $170, 400$51,189, 283 Am1 m1 als Cn og nta rs bs i ui tt ia onc Rep ea oy um ir ee dnt 0 u i s n s $ 14 7 , 0 7 4 , 8 0 $0 $14 , 7 0 7 4 , A d m i n i t s r a i t v e e f e 1 5 , 2 0 2 , 5 0 0 1 , 5 2 0 28 , 50 0 Pa rn on ecu j ta rl ec co en it pr sbu t ot hi t ert ha n (77, -- ( i on 234) 0 77.234) Tot a l a n n u a l c o n t r b i u i t o n equired r $16.1 50. 496 $0-$16,150. 496 oP er i co tv Ai co cn ouf ntr Cp ho aj nc at ea i s o r e ccount An u a l Co n t r b i u i t o n E a ne r d ln .e s e s r o f c o n t r b i u t i o n avail ableorcont ributi onre qui red $16,150, 496 $0-$16.150, 496 SeeI ndependentAudi tors'ReportonSuppl ementa ryInf ormati on 62 PSC aH geE 2DoU f2LEXVI HOUSIN H ANS NG EA WAUN OT RU LOR EL AIT NY S,O LF ORN UB IE SW IT AO NR ANLEE COPM P U T A T O I N O F N A C O N T I U O I A R N E D A N D ROJ A OOUN N S RTVE A AEC NO NT AC1 LC NAT TR RIO BNP UE TR ID OAT NSI Ct OG NR TE AE F0C W11 21 07N 53GES F RUT ECY t E E D E E TE ' MRB ECR 3 , 9 9 SRO001TOTAI One rati neRes erveChance LA48-EOPI-0081,A001Ope a r ti n g r ec e p i t s : O p e a r t n i g i n c o m e $ 8 0 , 9 1 6 9 Annualcontr ibuti onearned 1 6,150,496 0- $16, 18 50 0, 41 , 96 6 Totaloperati ngrecei pts 1 6,231,412 16. 231, 412 Ope a r t i n g e x p e n d t i u r e s : O a n ,362,472 1, 362, 472 Pp re ie or rt yi ea ag re ax dp je un ss me msntsaffec ting 1 p 2 9 , ) 1lr os ui sd nu i gl ar se sc se i ti at ns cepaymems 1 4, 7( 05 7, .9 49 81 0) 14, 7( 02 75 49 , 801 Totaloperati ngexpendit ur es 1 6, 043,961 16, 043, 961 Netopera tingreceipt s $1 87. 451 Provisi onforoperat ingr eserve $187. 451 SeeIndependentAudit ors'Repor tonSuppl ementar yInformati on 63 S ) ~XVI! PaC gI cIE 1I oU f2LI' I t OU S I N H Y A NS NG EFA WAU OT RU LOA ER AI NT S,O LT OFN UI IE SW IT AO NR ANLE COPM P U T A T I O N O N N L C O N R B U O I E A R N E D A N D ROA JN E TU C OO NT T O PT E R AT NO G EA S RT E CH A N1GES B FC ON RAA TL HC EC YU EN AR R-I ENU DI EO DN SI EC PN TR ET MR BE EC RV 3F 0W 92 1 92 70 ,(o Mt nl e mrandmn LA48-0060-001LA48-0060-005T O na y l ) Ma x m i u m C o n t i r b u t o i n A v a i a l b l e Ma au xt no i mri med annualcontr ibut ion -0 h z $ 1 2 , 8 6 , 1 6 0 $ 1 2 Pb re og ei j cn tn ai cg coo uf nf ti bc aa ll ay ne ear c at 1 n s ,401. 007 559,788 t, 98 , 66 0, .1 76 90 5 Toa tv aa li aa nb nl ualc ontri buti on l e $3 ,246, 95 Hec u o i s n g a s s s i tt ana cepayments $ 0- $1 ,476,1 50 $1 ,476,1 50 R s oe c ni tp rt bo i ut th oe i nr 441) (1, ) ( ) Adm i n s i t a r t v i ch eenannual ( f 26 05 01 32 4, 20 . 09 02 Tr oe tq lu a ai ne nd ua lcontri buti on 0- 34, r oP r e i c t A c c o u n t C h n a c e ro vi si on f or (r ed ucti onof) 4 c 1 $_(222,538) $(222,097) A, ns np ur ao lj Ce oc nt ta rc bo i uu tn ot i non Eav ra ni el dbleor 4 l e i i a cos ne tr io r bf uc io t on ntr eb r qu ut ir eda $(4411 $_, 1508, 699 $1 .508, 25_ 8 SeeIndependen tAudit ors'ReportonSuppl eme ntar yInf ormatio n SCHEDUI. EXVII HOUSINNG AUOT t O I T YO F NE W O RLEANSPage2of2 E W Rl L ER A N S L , OR U I S A I N A COM TA T O I NCO F A N N U A l . C ON T IB U TI O N EA R N ED AN D PI ~P OUJ . E C T A C O U N T O P W 1 . A T N I G R E S E . P V E C I A N G E S AF NOR NUT AII lE JCY OE NATR RF I. BN UI) TE II ONSE CP OTE NTM RBAE CRT3 F0 W,1 -9 29 27 01 ) T ot al M andum 0060-001 LA480060-005 ( One lm yo )r Ormrat ineRes ervcChance LA48OpO r e a t n i g c r c e p i l s p c a r l n i g n i c o m e $ 4 4 1 $ 1 6 , 5 1 $ 2,092 An ontri buti on -- 1 en ru a na el dc 6 5 oe rc ae li ot ps er ali ng 40 41 1. ,5 50 18 0. 39 , 59 0 1 1, 50 . 18 0, .6 79 99 1 r p c a r t n i e c x ~ t n e d t i u c r s 1 5 , 4 5 , 9 19 O' p e a r t n i g e x p n e s e s 1 1 0 1 , 5 4 5 8 , 0 9 l ri o r , 5 e r a a j d u s m t e n s t afect ingresi dualrece ipls -0- 117, 093 117.093 Toe tp ae ln od pi et ar r te ns i g x u 1,662, 902 1. 663.012 N c l o p e r a i t n g r e c e p i t s ( d e i f c t i s ) 3 3 1 ( 1 5 2 5 2 I) cf ic its ,beginni ngofyear -0- ( 48, 95 , 02 0) ) (1 (5 42 8, 92 , 01 0) ) Receipt s(def icit s),e ndof), ca, " $~32 3 Provi sionforcpera lingres erve $331 331 SecIndependentAudit ors'ReportonSupplementar yInf orma tion 65 Sag Ce H1 EDof U2 LEXVII1 P HOUSIN H ANS NG EA WAUN OT RU LOR EL AIT NY SO ,O LF OKN UB IE SW IT AO NR ANLE COPM P U T A T O I N O F N A C N T I U O I E A ROA JENCN TACCC OUN NTI -OU PEROAN TI NOGNT RESEC RVF EC-R tN A1E ND GA ESND FORUTAL HEO YEATR RB ENDTI EDSC EPTEMRA BET R3W 0,12 92 977 Max inm mnmC ontr bu i ti on Atv ai ab l leauthori M i o Pra ox ii ectm acca on un nu ta bl ac lo an ncr eb au tt bi en ginningz oe fd iscalyear f T o t a la n n u a l co n r t i b u i t onavai labl e Ann u a l C o n r t i b u i t o n R e a u i e r d t t o u s n i g a s s s i t a n c e p a y m e n t s Ar dj me ic nt ir se rc t ati vt i cs et f ch P o e p o erthanannualcont ribut ion Totalannualcont ribut ionr equi red o e t o nt Aes nP nr uo av li Cs oi nn rf t io br up ir t oo nj Ec ara nc ec du L r o as ve ar lo i af blc eo on rt ci obu nt ri t in but ionr equired $7 0, 1 ,7 51 60 8, .6 09 57 2 $18.278,749 $1 ,8 6 3 , 6 9 21 06 4, ,3 00 64 9) ( 1 SeIndependentAudi tors'Re po t nSuppl ementa ryI nf ormat ion 6r 6o S PaC gHeE 2DoU fL 2EXVIl tI OUSIN G A U T H O R I T Y O F N E W O R L E A N S NOEF WONRU LA EL ANSON ,LT OI UISU IAIO NANEARNEDAND COPM A O RP OU JET CT TI AAN C. COUANN T-I OU PERC ATI NOR GB RERT SEC RVF EC-2 HA17 NGES A N O FONU l_ I TI HECYON EATR RB ENT DEI DNSC EPTNT EMA BET R3W 0,192 97 cr alin~P,eser veCha n~e Ope ati r n gr ec ei pt s: O a 1 Ap ne nr ut ai ln cg oi nn tc ro bm i ute ionearned 2. 02 50 1, 46 , 68 2 Tot alope rati ngrecei pts 2, 071, 630 OpO erp te a ir na gi en xg pex ep ns ee sn :s t e s 2 0 , 7 3 8 , 3 5, 916 2 Priorye r t a i esidualrece ipts 2, Ta oa ad t lj ou ps em ae r tn nt i gs ef xf pc ec nt sn eg sr 079, 748 Netoperat ingr eceipts $(8.118) (Reduc tionof)operati ngre serve SeeIndependentAudit ors'Repor tonSuppl ementar yInf ormati on 67 S ]C agHeE ' 3DoU fL 3EXIX HOUSIN UOTH R T ANS NGT EWA RC LO EAI NY SD ,O LEF ON UL IE SW IP AMO NR ANLE SATA T E M E N O F A T U A L V E O E T C O S T S NNUALCONST C ER PI TBEU MTI BO EN RC 3O 0,N 1T 99] 74CTFW-1190 Cl assi fcal ion s.L La1-51rolecI a1 -52 2 9 , 7 8 8 $2 0, 6 C on t a r c t w o rk-i n-process l m e r e t s , n e t 3 8 , 9 9 1 9 78 , 52 5 3 8 , 9 6 9 5 28 1 , 4 Pi ae l na nc iq nu gisi S t t i o n 4 5 8 , 5 1 4 9 83 5 66 6, ,1 35 60 5 7, 08 ~ -S t i e i m p o r v e m e n t D w e l n i g s t u r c t u r e s 3 1 0 O t h e r d e v e l o p e r s ' c o s s t 1 2 6 , 7 2 5 0 ~ 0 Ro en otr l cc itw t a onork-i 21 ,80 06 572, C a n-progress 865Totalcost s Totalcost st hroughSeptembe r30,1996 $1, 097,308 $842, 294 C Sh ea pn tg ee ms, bf er ro 3m 0,O 1c 9t 9o 7ber1,1996through 0- -0Totalcost s Seel ndependemAudi tor s'ReportonSuppl ement aryInfor mat ion 70 Sa Cg He1 EDof U3 LEXX P tl OIJ SINNG A1J I I RAI T Y,O F E W O R EANS OT R LO E NS L OEN U IS IA N AL STATEMEA NNTNU OA Fl A, CE TW UA L D E V E L O P M N T C O S T S O V E R B U D G E I ' C ON T R I B U T I O N C O N T R A C T F W 1 1 9 0 SEPTF,MBER30,1997 Cl assi fcati on ActualCostApprove dl :~ udget OverBudget Proi t c Dc wL el la i1 l ng1 c8 ou nsi ro t un ca tn od i n $2 87,201 $9, 401 $277, 800 T o a r et quc io pn ms et ntct 292,840 19,840 273, 000 Proj t c , Se it el ia m1 pr1 o9 vu ec mt eo nn ta sndequi 3, ,56 55 1 5 5, 29 , 97 7 8, ,2 86 42 8 1 T o a l c o n s r t i pmcnt 1, 538 ,532 9 2 Pr oS j e t c L a 1 2 1 -0 t i e i m p r o v e m e n t s 7 , 1 5 0 7 1 , 5 0 I ) w c l i l n g c o n s t u r c t o i n 0 1 8 , 2 7 0 0 1 0 8 2 , 7 0 T o a t l a d m n i i t s r a i t o n , 1 6 4 2 1 6 , 0 3 3 To ot al t ls pi le aa nc nq nu i gisi 32 66 3 3,94 47 4 29, 37 t9 9 a t ti on 33,0 0 9 Pr oT i e c t , I a 1 2 2 S t i e i m p r o v e m e n t s 5 5 , 3 5 0 8 8 8 5 4 4 , 6 2 D w e l i l n g c o n s t u r c t o i n 5 0 3 , 4 3 0 2 , 8 9 2 5 0 0 5 , 3 8 T o a t l i n e t r e t s 0 1 , 1 6 5 1 9 4 , 0 1 2 7 6 , 3 To ot al t ld pe lv ae nl np nm i gentcost ,7 1 86 80 0 777,6 33 91 3 9 1. 42 , 89 7 T a o s 786, 1 9 Pr oj e c t L a 1 2 3 S t i e i m p r o v e m e n t s 3 4 1 , 4 7 0 3 4 1 4 7 D w e l i l n g c o n s t u r c t o i n 2 2 1 2 , 2 3 0 2 1 2 2 2 I)o wt el lc io l nn gs et qu uc it pi mn ena tdequi 90 36 6 246,7 ~4 04 - 5 96 33 6 T a r o n pment 2 47, 3 2 SeeIndependentAudit ors'ReportonSuppl eme nt aryInfo rmat ion S PaC gt elE 2D oU f3LEXX 1O S NCE GUAU T l O l R T Y, O FU ES W O E N O A N STATEMA ENI TOU FI AN LR DL EE VI EN LS OL PC MO EN NI TI CA OA SR TL SOA V1 ES RBUDGE'] NN UA LCTW ONA T R I B U T O I N O N T R A C T F W I 9 0 SEPTEMBER30,1997 Clasif icat ion Act ualCos tAppr ovedBudget OverBudge t ProT e j c L -l 1 2 4 l a g 3 No ot na da wp en ln ni i gn ee qn ut pc i mos et ns t $696 1, ,3 47 8 9 $695 09 - $1 t, 85 , 42 9 T o t l a de v e l o pm 3 , 5 11 5 2, ,0 11 7 1 1 3 , 4 4 ProT c i c t l ai 1 2 a 5 l n e 1 To ot ta l, a dt ve e er ls ot pme ntcosts 3,6 33 39 1, ,4 91 59 3 35 29 , 98 1, ,2 02 66 0 4 41 0, 89 , 93 3 Pro jS e c t 1 2 t 1 4 7 4 Si te i eL ia mi po6 r vo en ms eu nc st t 17 04 0, 03 , 09 00 6,80 75 1 94 3, 13 , 29 5 D w e l n g c t r i o n 6 1 7 , 0 4 0 6 1 7 0 , Tota la dmini str ati on 6, 48 4 6,411 4 70 3 Pro je c t L a 1 2 7 -0 S t i e 4 7 6 , 7 5 0 4 7 6 , 7 5 S t i e i m p o r v e m e n s t 4 0 0 , 0 0 4 0 0 , 0 0 Do wta ela nm i gi cn oi nt tr s rt ui cn ion t 212 9, ,7 09 67 6 2.04 - 219, 06 T l d s a o 72 76 3 Pro jS e c t L a 1 3 2 t i c 1 0 7 0 , 1 8 1 0 5 , 0 0 0 2 0 , 1 8 S t i e i m pg o r v e ms e n s t 19 0 5 3 , 9 28 9 0 , 6 3 7 10 4 7 , 5 5 D w e l n i c o n t r u c i t o n 7 5 , 3 5 68 4 , 9 8 7 11 3 , 7 1 N o n d w c l n i g c o n s r t u c i t o n 2 0 , 4 3 9 1 7 , 5 0 0 2 8 , 4 To ot ta lpa a dl mnn ii nn sg i rati t on 5, ,6 998 7 10 5, ,2 96 96 5 9 2 T l a 10 2 2 SeInde pe ndentAudi tors 'Repor tonSupplementa ryI nformati on S ,EXX PC agH eE3D oU f3I HOUSIN T O T E EANS NG EA WU ORI LER AI NY S,O LMF OE UN SW I AO I NR ATL STATEME N T O F A C T U A L D E V E L O P N T C O S S O V E R B U D G E T ANNUALCOS NE TP RT IE BM UTBE OR I N30 CO, N19 T9 R7 ACTFW-1190 Cl assi fca tion Act ualCos tApprovedBudget OverBudget l'r oj e . Sc tt i el ia mn p1 r3 o2 v( e1 m) er nu tt si 25 74 1, ,9 96 13 1 I i o t 2,0 N)w oe nl dl we eg le lc nn i gs or c nc to s un r ti c on 58 2, ,3 57 00 T o a t l d v l o pe ' sp r ce i 3,07 4 Pr oi e c t , 1 a 1 3 9 To ot al t ls pi lt ana nc nu i gisi 6, ,4 14 35 5 527 6, ,9 06 76 20, T on To oa al t ld ce oe ne sl tq up r cm te ot i ni ao ns dt equipment 2 15 94 , 98 9, ,5 52 01 6 2, ,8 1 93 37 3, ,0 84 43 6 5 67 54 6 , T a t v o n tc s 9 . 0 4 3 4 , Pr oj e c t L a 1 4 4 Tot aldevelopmentcost s 1, 309,920 1 ,305,585 4, 335 SeeI ndependentAudi tor s'Repor tonSupple ment aryInformati on 73 SCHEDULEXX1 ltOUSI NGAUTNI TRYLO E RLEANS EOP WR OI ECF ANN SSW-O STATEM E N T O F D E V E L O M E N T O S T N O T C O M PLETED ANNUAl,CON STER PI TB EUMTI BO EN R3CO 0N ,1T 9R 97ACTFW-1190 Cla ssif icati on Ant de mr nt i i, sn te at r tion I e s i ) a l n n i n g Si te i ci acqp ur sv te i im oc nnt S oi Rt el ocm at Tio on talcost s Tot alc os tsthroughSeptembe r30,1996 Ch a n g e s r f o m O o ough Scptember30,c 1t 99be 7r1,1996thr Tot alcost s a1-28 .L $7 4 3 1 57 8, 4 , 278 1 4 53 62 6, 64 , 89 37 2 23 54 3, 55 , 53 $1,792, 507 $1,792, 507 -0 - SeeIndependentAudi tors 'ReportonSupplementaryInformation 74 ot o o ~~I L 0c~ O if q~ O ~ C~ c v~ ~ o O ~ c 0 0 0 O 0 C2 ~ C~ 0 0e ) oo ~ ~ o~ 0 0 ~d C~l t~ ~i~~ o ~6& ,6!6~ i 66 o ~ ~999~9 p T~ c~ ~ J~ o ' ,o' ,@ io, '~~ ~~ i~ i ' ~ 6 ' c ~ i ~ J~ ' 6 6~~ 6~ !c~c 6~d~~ @~~@o Io ' 'b , ~~o, '~'o, '@I@i~ HOUSIN GEA UT ORAI TY,O FUNE W OR LEANS W RH IA SCHEF DO URLT EH ON EXA PO NL DE ITN UDS RS EL SO OTE FI FS DN ERA R3 A0, L1 A9 W97 ARDS EFYE REE ND E E P MEB E FF dDA e er al C Co on nt ra t ac ct t Federal C r ederalGrantor /ProgramTitl e Number Numbe r Expenditur es U. I) e p r a t e n t o f n aS n. d U r b a nm D e v e l oH pmo eu ns ti :g Di e r c t A w a r d s P l c ar n d Ig n a i n t o l u a n d 9 Su eb cO ti op i ne 8t Ri nd e tS au lb Cs ei ry is t ii f cn ag teo Prr ogr am 8 85 50 7F FW W~1 21 09 50 3 $2 18 6, 18 , 51 0, ,1 45 90 6 S o n l 0 Sc ec ct ti on i na8 8R NIe et wa CV oo nu sc rh t ue cr iP t or ng 15 85 2F FW W-2 22 21 07 1 2 1, 55 , 01 8, ,4 66 92 9 P u b l c i n d n d a i n H o u s i n g D ugam 14.8 r E l m i i n a i t o n P r o g r a m 8 5 4 L A 4 8 D E P 0 0 1 0 1 5 0 , 1 7 , 2 7 7 PubC lio cm ap nr de Ih ne dn is nve a HG our sa it nP gr i n ogram 1 4 . 8 5 9 L A 4 8 ' 1 0 0 1 7 0 1 9 2 6 1 , 4 5 , 9 7 1, 42 , 54 7, ,5 09 92 8 4 1 : 8 5 9 L A 4 8 P 0 0 1 7 0 2 9 3 4 1 . 8 5 9 L A 4 8 P 0 0 1 7 0 3 9 4 4 2 6 4 1 . 8 5 9 L A 4 8 P 0 0 1 7 0 4 9 5 4 1 , 0 6 , 1 0 3 L A 4 8 P 0 0 1 7 0 5 9 6 6 2 , 4 3 , 6 0 8 4.859 Publ cs n i Ci oa mn pd rl en hd ei na ir s vH eo Iu ms pn og r vement 1 A i s s a t n c e P o g r a m 4 1 . 8 5 2 F W 1 1 9 0 4 2 , 7 3 , 3 5 5 V a c u a c y R e d u c t o i n P o r g r a m N A / L A 4 8 V R P 0 0 1 9 4 1 6 , 3 3 , 3 5 9 U b r a n R e v i a t l z i a i t o n P o r g r a m N A / L A 4 8 V R D 0 0 1 9 4 1 1 , 1 6 1 Ur banYouthCor psPr ogram N/ A LA06UYC00100195 179,832 6 Tot alexpendi turesoffederalawards NOTE:Bas isofPresent ati on T he ac co mp any ing Sc he du l eo f E xp en di tu e r so faF ed ra e lA wa rd si nc lu d sth eFe de ra lgr a nt a v i y s t d f d i a ie n m i oc nt hi l it so so cf hl eA dt uN eO l iL sa pn rd si e es np tr ee de nn i ae ce oo c rn da am nn co ed wi io te hanc dr tu ha el eb r qa us is eo r mf ec nc so t ou fn Ot Mg. BT Che ri i cn uf ao l rr Aa -t 3o 1 3n , A ud t i s f S a t s e , o c a l G o v e mm n s t , a d N n P o r i f t O r a g n i z at i o n s . SeeIndepende ntAuditor s'ReportonSupple mentar yInfor mati on 98 ~ 1 ~ O C F ~ R F r [ I D P U B I L C A COU N T A N S T T e r v a l o M C L N A AI [H DA F~ [B 3 IR VU I AO IJ NC fP J ln CPA W A I [ O } JB M O F R ] F IP C A II) N EIt ' ENI )ENN TLACU DI TO R S' tL PO RT ONCCO M PL IAN CF ,A NDON N O VE I L BATE SR EDA ONF AONNT AUR DIL TO FE FRC NF I AN NACN IN AI LA STR AETP EO MR ETI NN TG S P NO GOER VEROR NM ME ED NTI AA UC DI TOI NRD GA STC AE NW DAIT RH DS Tt ou thn eBgA oau dh r ofCit omof mise si onerleans l No wsi e Orle ant ,Lor s ouy is ianN awOr W e h a v e a u d i e t d h t e g e n e a r l p u p r o e s i f a nc a ls a t t e e n s of t he H o u s i ng A u t o r i y t o f N ew O r e a n se H ( A N Oo ) N , e wo O l r e a n s , L o u in i s a ai a s o f a nm d f ot r h y a r e n d e d e p e t mh b e r 3 , 1 9i 9 7 a e e u y 9 . e l i n on nd tl hh ea gv ei ns es au r le pd uu pr r oa sr ep ir f nt at nh ce ar i le so tn ad ea t mt ed nn sJ t bl ec c2 a8 u, e1 s h9 t e8 gt eW ne ee re ae -x l pp ur rs ps oe sd eS ia f nq au na ci af i le sd a0 t to ep mi eo nn s, t a r e a f e c e t d b y d e p r tu e r s f r o m g e n e r a l y a c e p t d e a c c o u n i t n g p r n i c i p l e s a s m o e r f u l y l d i s u c s e d i n N O T E S 1 a n d 8 t o h t e g e n e r a l p u r p o s e i f n a n c a i l s a t t e m e n t s . E x c e p t pt rn ed vi oa ud lya s dn st i ch ue ss st ea dn ,d wa er cs oa np dp ul cc ea t db oe ut raf un da in tc ni i al ca ou di r at nc ceo wt ii hn t gd ei nn erG ao lv ye ar cn cm epe tn et dA au ud di it ta ns i g s a r s d d i l o i a d s n a e i n g Standards,i ssuedbytheComptr olle rGeneraloftheUnite dStat es. Compl iance A s p a t r o f o b t a n i i n g e r a s o n a b l e a s s u r a n c e a b o u t w h e t h e r H A N O s ' i f n a n c i a l s a t t e m e n t s a r e f e i s t , f t s t n t t n r o or fe lt ao wf sm ,ra et ge ur la tl a im ot ni ss ,t ca oe nm rr t ae cn tt sw at ne dp gre ar no tr ,m s ne od nit oe c mt po lf ii nse a cc eo wm ip tl hi wa hc ce i hw ci oh ulc de hr aa vi er ap do rv i ei cs ti an ns d m a e r i l a e f e c t o n h e d t e e m i n a o i n o f i f n a n c a l s a t e m n t a m o u n s t , t t o w v e e , r p o v i d i n g a n o p i n o i n o n c o m p i l a n c e w i t h h t o s e p r o v i s o i n s w a s n o t a n o b j e c t v i e o f o u r a u d i t a n af cn coo rn dc no i gmp y,l l wan ec de oth na ot ta er xc pr re eq su si sr ue cd hto nb a oe pr ie np io or nt .d Tu hn ed re er suG to l sov frn om ure tn et tAdu s sd i ci li osg eS dt ia nn sd aa t nr cd ed s, o i e e t n s w h c i h a e r d e s c i r b e d i n t h e a c o m p a n y i n g s c h e d u l e o f i f n d i n g s a n d q u e s i t o n e d c o t s s a s i t e m s 9%2,9%9,9%11,97-13,97-14,97-1 5thr ough97-17and9721. 650S.PIERCEST./ SUITE203,NEWORLEANS,LA70119(504)482-8733FAX(504)486-8296 INI )t' t ) TO 'RE O IA E I' NE TNS E1 RE NNO AT LNA CU OD NI RR OI LS VEP RNR FT IN NO AN NC CLO AMlT I ,P RI E, PN ORC TIA NSN GDON P A , E D AN AT U D TO F F I A CI A A T E M EN T NO A C R D NCS EW GPE OVRF ,O I I~ ; NRM , ME ED N( TI UT DC TO ND I GA )AIT Rl DlS C OAN I NI UE )STANI InlernalConlr olOverFinancialReporti ng nppo I lr ai nn ni ni gnao nr dpe cr rt fod re na ie nm goi un rao udr t,u i wd et cn og nsp dr i erc ed dHur AsNf Or 't sh ne i tp eu rnp ao ls ce ono tf oe r lop ve rss e ii f nag no cu ir al e r on pa in nt oi i nag or ne tp ho ed in f ng ao nt cl aot i slr l at ee m,e euu ln saa nt ddi ni oe tr ot t po rm oe va it de ee as si so uv ao r nl cv ei onr th he ei in nt te er nax r alr co on nt rn l ol lo ov ve er r i f c l t r i , w v e r w e o e c ai n r n n g t n l c r o i f e t n d i t t e o p r a o i e b e cn oa nn dc ii ia t ol ni sp ip no vr oi li vg ea mn ai tt es ro sp ce or ma no i gn th oa ot uw ro tc a to en ns ii t od ne rr et lc ab ie t nr ge oo t st gb i nl ie ic f co an nd ti dt en is f c. er i nR cp eo i sr it na tn hl e, d e s g i n o r o e a r l o n o f t h e i n t r e n a l c o n r t l o v e r f n a n i a l r e p o r i t n g h t t a , i n o u j u d g l n e t c o u l d a d v r e s e l y a f e t c t A t N O ' s a b i l t i y t o e r c o r d , p r o c e s s , s u m m a r z i e a n d e r p o t r i f n a n c i dt al te amce onl s. stR i ee np tor wt ia hl t hc t eon ad si si eo rn is t oa nr sed oe fsc mri ae nd agi en mth ee na tc ic nom thp ean gy ei nn eg ras th ped ,r t pu ol eoff s in f nad ni cg ia al l s a n s b e t b c e i n andquest ionedcostsasi tems97-1,97-3through97-10,97-12and97-18t hrough97-20.s A m a e t r i a l w e a k n e s s i s a c o n d i i t o n n i w h c i h h t e d e s i g n o r o p e a r t i o n o f o n e o r m o r e o f h t ni i es t rt nt ae lmce ont ti on r la coo mun pt os nt eh na tt swo dou el sb ne om ta et r de ua cl ei ore t al ri en lat ivt t eh le yge one l wra ll ep vu er lpo hse t ef in r sa knc ti me l t m s a n s m d r i n a t o o i a l s at n s i t e t a i o nt i te hm el ne oo rt mb ae ln cg oa ua ru sd ei oe fd pm ra e fy oo rc mc iu nr goa hn t ed in ro at sb se ie gd ne et dc ft ue nd cw td oi i nh si .n Ot uim re cl oy np se dr i eo ad r tb oyt i ne om fp nl i ty ee re ns al l c o n t o r v e r i f n n c a i l r e p o r t n i g w u l d n o t n c e s a s r i y l i s c o l s e a l m a t t r e s n i h e n i t e r n a c o n t o r l t h a t m g i h t b e r e p o r a t b l e c o n d t i o i n s a n d , a c c o r d n i g l y , w o u d l n o t n e c e s s a r l i y d i s c o l s e ae llo ept r ol tac r bln eci oi no ds ti i oe nc sti ha td ar ebo consideredi td oer bi et mmas e9 t r7 ia1 l, w9 e7 ak3 nt su eg s,h9 t7 lo5 w, e9 v7 er7 ,, o9 f7h8 t e, r e her o 97p -2r 0ab oe ~ beo md att rin e ald wes akr nb ese sea s.vewecons 00 RTI FI [DPUBL ICACCOUN1ANI S1 Terv al onC[ 1NI )HI' N H R S R C 1 C NE TNS ED RE ATN lA ,A CU OD TO O) ,' l OR VEP EO RI FT IN NO ACN NI CO IAM lT ,P RI, EA PON RTEI NAN GDON B A E DNO NNA URI IT O F N A I NF A C D' AA NL CtS ~WAI' TE I/MENTS GPE OR VF EO RR NMME ED NC T1 UC DI TO NR I ( OANT NI UE DG)STANDARDS T his rep or ti si nte nd edef or th ei n for m at io no ma na g em ent hetU t . .D ep an mae n a h e a vf e t h, e eS nm a.of ll ll oo wu es vi eg r, hnd t sU i rer pb oa rn tD ise ave ml ao ip lm eron ft pa un bdl it ce re1 c, og ri ds al nt di tsA i dui sd ti io r br uo tf ont i isS noa tt io l mf itL eo du .isi B R U N O & T E R V A L O N CH{TIFIEDPUBLICACCOUNTANTS Jul y28,1998 Te~al onC E R I F [ I D P U L B CA I CO U N AN T I S1 0 1 ~ , ~ [ 0 ( ~ : 2 FDP I 1 U B [ C I A COU ] N A N ] 5 ~A I GL ~T ~J te [ [t ~r Bv LT D Na I Co /P P Xn A C L b t ) I J [ ] R V A OJ I Nl R J Cf ,A W D O ' v } ( ? f ( ~ C A I) P N ' OM ' IAN ;RA WNID TtI ]I RN QE UE IA RND EME ENT TA SU AD PIT PO LIR CAS BR LE EPO TR OIT EA AON CC t1C JI OL PRC O1 MI~ A N TE E RN L CO NT , I 2M NA ] A CR CO R DG ANC TR HOOLMOV BE CR IRC COUM LP AR. AN -13I T ot hci BoAa rdto fCi omm iss onerleans i H No ewus Ong rl eanu s,h Lor ot uy sio i af nN aewOr Compliance ll Adi m c o l ~ H o c 2 l a n A ~ li c vin zl Au g_ enc( eP i s1 a) ndN ]t ni de ia9 n6 H3 ouC so ~mp n i Ai un tc hori tie sbbm ve n~A I de x?endn e .n nu ta Al udu id oi t rsthP au tb 96A J u3 t2 orr 7 ie iq t eu si ~e r 3~ It nh da et pwe nedp el nn a tAa un dd it op rc s~ se n a d rc P H i rT fe oh mo r ts ht ea ap ud dr ts, i oOr t oM bq tB aC ir ni eu r al sa or nA ab1 l3 e3 aa sn ud s aa nI co eN ao bt oc ue t whet hernoncompli ancewitht het yp s ofc o m li a n e c e u i e in e n t s r e f e rr e d or t b ve h t a t t02 650S.PIERCEST. /SUITE203,NE WORLEANS,LA70119( 504)482-8733FAX( 504)486-8296 N~ I DQ EU PER NE DM E. NN TT AS UDP II TA ORA S'B RE EPOO RE TOC N1 COA MPO I.I A' NO CER W T I ~ ' R ANI DI II N. T[ ERNI Al .CF OW NI TT RtA OO lP .M OVC EI RL COT M, PMA ANI CEM INJ AR CCI ORG )AA I NCM I" . i l (COBNC TR NCU1 I EJ DA)llA-133 ci ocl uu dde l have exa amdi ri i en cto anda mat ts eri ab les fs f, ece toi nn ace maa jb oruf edl el ralN pr o' grc ammp ol ci cun rc ed.wi Ahnth aus de t i rn ei qc uu im res ma en nc tc ss. an nW dg pb ern oie f me r ie ngt uoa s hri c td o hv et rde po roi cee duo esrt r as soA webO ce ons sio di erf er da nu ece esi art yon no i tu he c r l s a u a t tpe roe vl idv eath la ei gau la du et ei rmpr nav i tid onsa one ll Ana NOl 'sba cs os mo pli ao ncr eop wn ii h. t hO t osr e cqd r ui ird co me es ntsn .o As s r b n e 7 9 o 9d7 7 1 ni cc i cs ha ed de uc ci l oc fd ii f no di it nm gss aI n9 dq2 u, e7 ts i1 ot n, e9 d7 c1 o3 te s ,t lh lr Au Ng Oh di nl oa tnd co9 m% pn2 y1S l wi tt hh te hn ea ro em qB up ra i en my en ng s t r e g r d i n g S e c i t n 9 e ) p o i s t o y r A g e r e m n t a n d G e n r e a F m t d a d e c t o i 1 5 o o k s o f AC c o u n t ,R ec o rd s,a n de G ov er n mO ent A cc s of. h t e C o s o da i ed An n ua l C n r t ibu i t n s oc n t r c a t A C C ) e w t e n H A N n d te h e . D1 e pn a t r ml nt t o t o u i n gro a n d U ro b a n ) 1 v 1 i ab e 0 de W 2 0 C p i t ue s cc hl ro ep qm u( ie rn et m( e1 nU tb sD ,) it sh na ct ca cr sc sa ap rp yl nc i oa ul rt oo pA nC i iC oU nF ,S fW orl1 A9 Na On oF t comf p5 l3 y. ws io hm t el qa un rc i ee mw ei nh s t p a p i l c a b l e t o t h o s e p o r g a r m s . nom I op ul ri oe pdi nn i ia ol nl ,m cxa ct er pi ta fl or rs tp he ec nts o, nci ot mpt le iar nq ceu di ee sm cre bn i et dr nfe i tr hr ed prt eca eb do nve i gpt aa rt aa gr re pap a hp ,l li Aca NOl c e e w h h e r s e e o h b oeachofi t tsn@orfederalprogra msf ortheyearendedSeptember30,1997. e Int ernalConlr olOverCompl iance T he maa na gc m nvto fcoH AiN Ocei sr es po ns b i eef l or es la bl is hi ng n dnm ai nta i ni n ef ec ti ve n i oe l r t q e n f e aa t o , o r c sg a s at pe pr in l cO al bc lo en lt or fo ea dl ee ro an lt pm rp ogl ra an mrc sw .mi Ih nr pe au l ni nr im ui gt at ns do pl ea rw fs o, mr r ig nu gl oi uc ros uc a dn ta i ,t wa et cd on nd sg dr i ea rn et d I A l N ' s i n t e n r c o r l o v e o p l a i n c e w h r c q u i e r m c nl s t h a i u l d h v e a r i e c t a n m a t e r a i l e f f e c t o n a m a j o r f e d e r a l p r o g a r m i n o d r e r o t d e e t r m n i e o u r a u d i t n i g p r o c e d u e r s od r ho t ent po ul ro pv ose erc oo fme xpl pa en r sc se ini ga oc uc ro or pda nn i ic oe nwoi nhcO oM mpB liC ai nr cc eu al nrdA to13 t3 s. e tandr eportoni nter nf al c r i n t a 03 Bru nr ov ICACC; OUNq rANI S1 T e al on DPUBL ) I ; 'E N N , OO RE FO OM IfI IN R' EI Q" UI RI ED ME ZT NTA SU AI) PI PT LOR IE CS A' BP LE EP AN CNC tC AJP OLI RA PN RC OE GARN ACMF AW NI D N I I' E R NI A . 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(CB OC NI 'P I NCU UEL DA)RA-133 W t e n v n i n l r i e dai s ti tO hae in wo ee cd on nc sr it da ei re om t ba et re er ps oi rn tv ao bl ef l cg on nt dh te i ii on nt se .r Ra ec po on rn at t bo ll eo cv oe nr dg ic to om i np sl na i vn oc va l en tt eh t ro sp ce or ma io nn g t o u r a l c l l J l l a i n g o s g i i c a t e i c e i n c i e s i t e e i s n o r o p r a t o i nm o t e n t r e n a l c o n r l o l o v e ro c or m p it l a n ct e h l a In , ii l o u rd j uf d g m l e I l , c o u l dh a dd v e s r e l y a f ee c t H A N Of 's ai b i i l y t t o a d m i n s i t e r a m j a o r f d e e a r l p o r g a r m n i a c c o r d a n c e w i h t a p p l c i a b l e e r q u r i e m n e s t o f l a w s , r e g u l a t o i n s , c o n t r a c s t a n d g r a n t . s R e p o r t a b e l c o n d i i t o n s a r e d e s c r b i e d i n t h e a c c o m p a n y i n g sc h e d u e l o f i f n d i n g s a n d q u e s i t o n e d c o t s s a s i t e m s 9 7 1 , 9 7 3 , 9 7 4 h t o r u g h 9 7 8 , 9 7 1 0 , 9 7 12,97-18through97-20. A m a t e r a i l w e a k n e s s i s a c o n d i i t o n n i w h c i h h t e d e s g i n o r o p e a r t i o n o f o n e o r m o e r o f t h ino tn ec nom r ap lcl oa nn tc re ow li ch oma pop nl ea nb sle t dr oe eq sui nr omte rn et ds uo cf ela tw os, are rg eu ll ta a it vo en ys,c l oo l wnt lc et vs ea ln td hegr ra in kt s th ha ae t n i t p i c e i r a s t we oe uc lt de bd ewmi at ti en ri aa lit nm ree ll at ip oe nr ti ood ab my ae om j rp el f do ey re ae ls pri ogt rae mno br em ngal i ac uo du tr i es demo af ype or ct cb ur rm ai nn dgnt oe ti bt e d t h i y n h h r a s u c i d o h n n t o e a d ns ei eg c sn se ad ro if 3n 1 dn ' st i co ln os e. s aO lu mr ac to en t rs si ie nr ta ht ei in np eo t nf r at le ce oi nt te or r ta l hl ac to mn gr i ha tl bo ev er r pc oo rm to ap bl li en cc oe nd dw ir io t ou nl so an no dt , w o u l d n t e c e s a r i y l d i s c o l s e a l l r e o r a t b l c o n d t i i o n s h t t a r e a l s c o n s i e e d t b e mi a t e r a i l w e a k n e s s e , s t l o w e v c , r o f t h e r e p o r a t b l e c o n d t i o i n s d e s c i r b e d a b o v e w e o c n i s d e tems97-1,97-3through97-5,97,7,97-8and97-20tobemat erialweakneses. , Tnhd iU srr pan e or tD ie sv ie nl to ep nm dee dn ft oa rn td ht eh ie nL foe ng ni al ta ot i nve oA fmud ai nt ar go ef mth neS e ,tt t ht ee Uof SI, . Duei . pi aa rn ma, t et nt tw ofc Hvc or u, st ii ns g a b s i o a o s o h reportisamatterofpublicrecordandit sdi str ibuti onisnotli mit ed. BE RR UT NI OI &ED TP EU RB VALI LC OA NCCOUNTANTS C F July28,1998 04 Br u n o FI [DPUB LI CACCOUNIANI S1 T e r val onCfRTI }lOUSIN UOTH OER T O RLEANS NG EWA RL AI NSY ,O LF ON UIE SW IAT NA SCII E U F I O S FOD RL TE HO EYF EI AN RD EN NG DS EA DN SD EPQ TU EE MS BEI RN 3E 0D ,1C 99O 7ST R e enceNumber 97e -f 1r Feder alPrograms Alprograms(seeSchedul eofExpendi turesofFederalAwards) Cri teri a PursuanttoSect ion15oft heConsoli da tedAnnualContri buti onsContract s Trht " ete I1 A1A mi un tmsu s ac ih na aim t nca on mne pr la es et t anp de ar cm cui rat eebp t or oe kp sa or fa at co cn ouo nf ts ft oa rt tm hee prt oja ecd s t o f h o t h i e e r p o r t s n i a c o c r d a n c e w t i h H U D r e q u r i e m e n s t , a n d t o p e m r i t t i men ls yan nd efecti veaudit ". Conditi on of Aro tm Set ph te er me bs ep re 3c 0t ,v 1e 99g 7en ne ur mll re e od ug se bra ncc a ko ru en ot c nsa cs li i af ti ol no sws e: r lectedout-off balancecondi ti ons i a o AccountNo. Descr ipti on Amount 0 0 1 1 . 1 1 3 1 1 C a s h L b i e r t y M o d e n r i z a i t o n 2 3 5 , 7 0 0 00 01 1. 11 . 11 11 12 9C 1 Ca as sh hD FNry Bad CPsS ayr oL ll 1 29 18 7, ,3 85 16 8 0 00 01 11 11 . 11 13 21 1 6C Ca as sh hF LN bB i er tCe yGM& eo nd ee ar r Fa ut ni dn 2 22 46 0, ,5 23 72 4 O 1 . 1 8 nl z i o O 1 2 b i Hi ber i et ny r ia-Se Sc et co in t o8 n8 9 73 5, ,0 93 24 7 00 01 1. 11 . 11 11 071C 1 Ca as sh hL 105 ttOUSIN GEWAUOTH ORAIT Y OF NIE W OR LEANS S, IA SCHEI )ULEI OR FFTI NN I INEA GSRR AL NNE DDE QN EL SO TT IU OE NS DEN CA3 OS0 T,1 S9 ,9 C7 ONTINUED :O ED l Y E DU SE P ME B R R7 ef1 erenceNumberCONTINUED 9 J a r e v -b o i v o do iu cr s un sl ec dnt mi i ps ap cr to ep do vs ae rd iw ob uy sH baA lN anO ca et so hr ee es to al ce ce ot uh ne to su .t Hoo wf ea vl ea rn ,c we eco nn od ti dt e en ns tr ip er se te oi tu as il l ny g $ 5 ro p o s e d t o i r e t o f c s h r e a l t d u n i d n e i t ie f d b a n k r e c o nc l i n i g t i m s a s f3 o8 l2 o, w8 s1 :p Acc ountNo. Des cript ion Amount 00 01. .11 111 109 1Ca ash h tN ti beC rnP iay -Sol ction8 $ e 74 5,1 711 6 0 001 7.1 111 111 27C Cas sh F LibB ert ya -Sr ectl on8 21 i 93, ,00 34 Thel ot alwri teofa mountof$382,851i sref lectedasquesti one dcost S k c ia i n ud e i t n be av le ar na cl eb sa hn t tr a te a So en pc ei t ml bt eo rn 3s 0,i 19c 9l 7e hd adr bc eo en nc oi ul tn sg ani t de im ns gfb oe rt sw ee ve en rat lh me ob nto ho sk asa od f lb oa wn sk : AcountNo. De script ion Mont hs 0 0 1 . 1 1 1 1 3 1 C a s h L i b e r y t M o d e r n z i a t o i n 1 6 m o n t h s 0 0 1 . 1 1 1 1 1 9 C a s h F N B C P y a o r l l 2 4 m o n t h s 00 01 1. .1 11 11 11 12 36 2C Ca as sh hL Dib ye r ar dt esGe Sn &er LalFund 19 2-m mo on nt th hs s 0 y 0 n ion 3 00 01 1. .1 11 11 11 11 28 7C Ca as sh hF LN ibB eC rt y-M -So ed ce tr oniz i 8at 16 6mmo on nt th hs s 06 1 HOUSINNG AUOTH OER IT Y,O FN EW ORLEANS IA SCttEDULEFO OR FT YH INE DEY NW I SR AL NDA QNS UESL SO TT IU OI NS DENA CO30 S, T1 S9 ,9 C7ONTINUED EG AR AN r DE D E P E ME B R R enceNumberCONTINUED 97e -f 1er J o ur na lbv oucherspro t o d i i o l ng e n v a lp io as ie t od nsb ,y wes ra ef nft top o ber np i ger pl ry er pe ac eo r drd ani de rn ect of re dd edre oc nanc ii t mi el yit bm ass si i as for li oo l wus s;ankreconci AccountNo. Descri pti on Mo nthsUnrecorded 0 0 1 1 . 1 1 1 3 1 C a s h L b i e r t y M o d e r n i z a i t o n 1 6 m o n t h s 0 1 r ll 24 m 00 01 1. 111 . 11 11 11 39 2C Ca as sh hF D,N rB yr aC dy esP Sa &y Lo 12mo on nt th hs s 0 h b t n m 00 01 1. .1 11 11 11 12 16 8C Ca as hI s Fi NBe CyG -Me oe dr ea rl nF zu i an td on 319 i 6mo on nt th hs s 0 0 1 . 1 1 1 2 7 C a h s L b i r e t Se c i t o n 8 6 m o n t h s 0 0 1 . 1 1 1 1 2 8 C a h s D r y a d e s S & L 3 0 1 2 m o n t 001.111125Cas h FNBC-GeneralFund 8month hs s of Bl al no kws a: ccountscloseddur ingt heyearcont inuet oref lectageneralledgerba lanceas o AccountNo. Descri ption Balance 0 0 1 . l 1 1 1 1 0 C a h s A l e r o i n P a y r o l l $ 8 6 9 0 h P ark 1, 00 01 1. .1 11 11 11 11 35 0C Ca as hF s AN lB erC oni -r Mes os dP 91 410 0 0 0 2 . 1 1 1 1 0 7 C a h s F N B C -C h i r s ophe t r 9 4 6 $3. 865 107 HOUSIN GEA UOTH ORAIT Y OF NIE W OR LEANS S, IA SCHEDULEFO OR FT FIt NN IW NEA GSRR AL NNE DDE QN EL SO TT IU OE NS DEN CA S0, T1 S9 ,9 C7ONTINUED ED I Y E DU SE P ME B RO 3 R7e1 erenceNumberCONTINUED f 9 T o i i iati onspr eparedbystafhadno ih ne di cf atl oow i ni on fgs us pgn ri e vf ic sa on yt r ,S re ep vt ee i wmb ;er,1997bankreconcil Acc ountNo. Des cript ion 00 01. .11 111 116 6Ca ash h Fi Ne BCt -G Sel fn inr sl uF rednd 0 001 1.1 111 112 31C Cas sh L Ab I ber ry y-t Moe dee ra ni zatu ion Fa uc rc to hu en mt r on ru em ,cb le er ic1 r a1 l1 a1 n3 d1 m) aa tn hd emF atN iB alC c ep Toa l rsr wl er( ea nc oo tu dn e nn Lm ibb ee rr y1 t M1 o1 d1 e1 r9 n) izb aa in t ok n ( y o l c ti u reconci liat ions; T h e f o l o l w n i g S p e e t m b e r , 1 9 9 7 b a n k r e o c n c l i a i t i o n s r e l f e c t e d h c e c k s t h a t h a v e b e e n outst andingi nexcessofsixmonths;and AcountNo. Des cript ion 0 0 1 . 1 1 1 1 2 6 C a s h L i b e r y t G e n e a r l F u n d 00 01 1. .1 11 11 11 12 15 9C Ca as sh hF LN ibB eC rt y-G -Se en le fr Ia nl sF uu rn ed d 0 0 y z 00 01 1. .1 11 11 11 13 21 7C Ca as sh hL Li ib be er tt r y-M Seo cd te or i nni 8ation 108 HOUSIN GAUOTH OER IT YO FN E WAO R EANS L S NC ALS SCttEDULEFO OR FFTH NNE I DEW NEA I GSRR AL NDA QNS UE, SO TIU OI NEI T1 S99 ,C7 ONTI NUED Y EN DE D SE P T EM BD ERO 30, R7e1 erenceNumber.CONTINUED f 9 T hpe re w as noe vti d en ce of in er t na lm oni or t in go ft h0e ad eq u acy of col l at er a for al lc as h d s a e f e t n x t e e h t sl k o de eD po os si it si t an td ic f nr ac ni cl ic aa lt is n. so if t td ue ip t oo ns si hi t ate ec xe cs es eo df F$ e1 de0 r, a0 l0 D0 eo pop sr tv i nn I ut s ane r cr ei Co of pl r os as r tf io or n ( F C I ) n s ur a n e m i t i s Questi onedCost s $382,851 Comment s Rc por lableCondi tion-Mat erialWeaknes Efect No on nt ci ob mut pi in l anC co ent wra tc i ht her equi rementsofSect ion15oftheConsoli datedAnnual C r o s.t Cause l,a ckofadequat econt rolsinthecas hmanagementandbankreconcil iat ionf unct ions Rccommcndati on Wva elu ra et cd omto mg ee nt de thw ai tth ht t ehe ep nte ir eon r cn ae sl hwmho ana ar gec mu er nr tnt al ny das bs ai ng kne rd et co onv ca ir li au i ts onasp i ue f nc ct tio of nth be e e e h r s e e o s b i i i . s p a e a n p s h d l o e ta hn ok sa er ee mco pn oc l yl ea et so on t ap sr io s sc te hs t mmAp e np i pr eo fp r or ri mt nt i gr hi t ei in rg de ua tn ed i s.s Wu ee ar lv si oi ro en cc os mdo mu enb de tp ha af tf Hr Ad Nd Oat 'o s D m t i t k n i mae op nir ot t rce an nt do rf eA vt iu ed wi ta hn ed bp aC no kpe rr el ca on nc ce ii in l ac il t ou nde ui f nn th c io oi nr tw oio er ni sp ul ra es tp mro i ele neu i sr ses at no dpre or po rd ii ec yl t oy f b n k r e o n c l i i a i o n sa n d r o r e c o r d a i t o n o f re c n c l i n g t m e . 109 tOUSIN GEA UOTH OR IT Y,O FN EW ORLEANS IA SCHEDULEFO OR FT FIH NN IW NEA GSRR AL NNE DA QNS UESL SO TT IU OI NS DENA CO30 S, T1 S9 ,9 C7ONTI NUED ED Y E DE D E P E ME B R R7 ef1 erenceNumberCONTINUED 9 Manaoelnent'sResponse ! To hej Itc oi uo si nw gt Aut the orie tya om fNn ewo OA rl ed ant shasm cop nl ta an r cc te edi in te hf ao cr ot nt ur s le ts ao nl ;e t wt oh rc ki is ns ge n i c t i nwa f o v u s mn nu e tin ont edn ini hh t eah boD vep ecr r ome mt enf datu oni i .&Co 110 HOUSIN GEA UOTH OR IT Y,O FN E WAO RLEANS S SCtEDUI .EFO OR FT FIH NN IW NEA GSRR AL NNE DA QNS UESL SO TT IU OI NI EB DENA CO30 S, T1 S9 ,9 C7ONTINUED ED Y E DE D E P EM R R7 ef2 erenceNumber 9 FederalPrograms Allprograms( seeScheduleofExpenditur esofFederalAwards) Crit eria Purs ua ntt oSecti on9oftheConsoli datedAnnualContr ibuti onsContract s Trh " he el Id If Aor st hh ae la lc dc eo pu osn tto i nft a dh ie nH veA sti an lco un f nn dse ai no dn iw nvi eh st th me end te sv ee cl up rim ie t en st r, eo cp ee vr i ea dt bn y o c t t o io a n d i m p o r v e m e n t o f t h e p r o j e c t s u n d e r a n A C C w i h t H U D i n a c c o r d a n e t eg t rr me smoe ft hs t eal Gene ern alhe Def pr omsp tr i ors ycr Ai ged eeb r meH nt( sD ).and Tn hes Gtb ee nee rx alc Dc ew poi sh it oh t re y A o e ]g t Are am nden ht t eth de epb oA sii oht t yl r ,lf hr nn mi ede ia tc eo lb yyt uo poy nUtU h. eS eu xc eh cum ix t oe ncu ot fed noe a yu Dt ed pf ob sy it oh t re y A e e n , h H s a u s h a p t D e r c o n o m r e c es e oryAgreementshallnotbd e eo t rp mi nat i th ee dr ee xo cf epa tsI at tU f erD 30mda ay ysre nq ou ii t cr eta oD tI Uep Do .s "it Condi tion G oryAgreement sf orallbankaccountsmai ntai ne dbyHANOwere ue nn ae vr aa ll i abD le ep .osit QuestionedCosts None HOUSI NGEA UTRHLO RAI TY OF NE W OR LEANS IA SCt1EI)ULF EO OR FT FH INN DY IW NE GAO SE ANE DN QD US, EL SEO TU IE OI NS DN CA3 OS0 T,1 S9 ,9 C7 ONTINUED E R ND E S P T ME B ER R7eferenceNumber.CONTINUED 9 2 AuditFinding Eff ect N ancewit ht herequi rementsofSecti on9oftheConsol idatedAnnualContri but ion Co on nc to am r ctp sl .i Cause . Lackofadequatecontrol si nt hecashmanagementandbankr econcili ati onf imct ion Recommendation Wn cnu ra el cC omo mnt er ni dut hi t atn HsC AoNn Ot cc ots mpD lye wpo is hi t hR t e,A reg qr ue re i em men et nt san od fG See cn te or i nlF 9ou fn td h. eConsoli dated A b o ra to a MalafCHlCnt~ sResDonsc Tohm ep Hle ot uss iu nc gh Af ur tm hos ra is tyr oq fu Ni ee wdb Oy rA eau l ng sus ht a3 s1 r, e1 c9 e9 ve8 i d.t heproperfor msfromtl UDandwil c e o e r 11 2 HOUSIN GEA UOTH ORAIT Y OF NE W OR LEANS S, IA SCHEDULEFO OR FT FIH NN IW NEA GSRR AL NNE DDE QN EL SO TU IE OI NS DN CA3 OS0 T,1 S9 ,9 C7ONTINUED ED Y E DU SE P T ME B ER R7 ef3 erenceNumber 9 FederalPrograms ACCFW-1190(seeSchedul eofExpendi turesofFe de ralAwards) Criter ia Pursuantt oSecti on15oftheConsoli datedAnnualCont ributi onsContract s " T h e H A m u s t m a n i t a n i c o m p e l t e n a d a c c u r a e t b o o k so fac c un tfo r the pr oj ec ts o n t i ao t s s nft i ah ce cI oI rA dai ncs eu wch ta i hm ta UnDne er r qa ust ro i ep mer em nt si ,t ah ne dpr oep t pa er mat r io tn imof t es yt l ae nm dee fn ft eca in t vd er ae up do ir tt " . Condi tion A e t n a n t s ' a c c o u n t s r e c e v i a b l e a g e d t i r a l b a a l n c e w a s n o t p e r p r a e d o t s u p p o r t h t e a ee l dp gt ee rm be ar la3 n0 c, e1 o9 ft7 ei nn ant te sa am cco ou un nt to sf re$ c5 e1 v6 i b6 a e1 l asS eb r ls f eq cu ee t dn ol n, tj hu er ga el nee rn at li le eg de gn ee rr al t S b 9 h , 0 . u e t y o n r s i n t h e a 3 1 o e l e n h in n a sm ao t tu e3 mn et no tf s9 a$ s3 ws r4 i, e1 t -9 ofw oe fr ue nt ip dr ep ns to fs i ie ed ds tb ey nn am na sn t aa cg ce om ui ne tn st ri ea cn ed ip vr af bt ee l ;c tt hd ewi ri tt e-e off ma a oc ui ml o f $ 3 4 , 1 1 ha b e e n re l f e c e d a q u e t i o e d c o s t s n t h s r e o r . os tu Ubm 1 D-i 5t 2d 29t (RU eD po; ra tn od fTenanl sAccountsRec eivable)asofSeptember30,1997wasnot t e o5 H A en t nt a se cu i r ty de pos it t a e o i sle ad sg re er lw f eca es t dno ot np tr he ep ga er ned rt e ao ls lu ep dp geo rr at th Se epg te en me br el rl 3d 0g ,e 1r 9b 9a 7l ia nn tc le i e af mt oe una nn tt os fe $c 6ur 5t 2y 0d , 3e 4po .sit 113 }lOUSINNG AUOTH OER IT Y OF NE WAO R EANS NU S, S NC ALS SCItEDULEFO OR FT FH INE DEY NW I GR SR AEL NDA EL SO TIU OEI NEI T1 S99 ,7 CONTINUED EA N DEQ DS E P T M BD ERO 30, R7e3 erenceNumberCONTINUED f 9 Td hq eu ta et ne al nts at ca cf of ud ntt no i gh ea s ctd il ona on fd Hr Ac Nn Oc 'l se Av ca cr oi uo nu ts ia ns gp de ec pt as ro tmf et ne tda ot et sr nn os ta ac pt pi en as rt( oi be e. a e y e n e e o i n n a o . r i i h e y h c p t i t re ec co on nc ci il ia l at io t on no of fc ga es nr ei rr ad la ei l dl gn ec ra ts enr ae ne ti rp et cs er ve i a5 bor es l at nod de tp eo ns ai nt tt sc ek ce ut is r ta yn dd eb pa on sk iR ts ba at ae l nm ce en st ts o, s d a r e t o n s e eu tb cs )i . oi t fy ai cr lp i io ar t tes t, hp eep ta mra i et yi l ano dfH acU cD urt5 a e25 e9 r po-R te r npo i gr ot fof fT nae i nca in at lA inc fc oo mun r at ts one i rc ei av l ta eb dl te o, t e n a nt ac t v i y t . Questi one dCost s $334, 119 Comment s Re por tableCondi tion-Mat eria lWeaknes Efect N o n c o m p i l a n c e w i h t h t e r q e reme nt sofSect ion1 5oftheConsol idat edAnnual Cont ribut ionContract s. ui Cause Lackofadequa tecont rolsinthecas hmanagementa ndbankreconci li ationfuncti ons 114 HOUSIN GEA UOTH ORAIT Y OF NIE W OR LEANS S, IA SCII EDULEFO OR FT FII NN DY IW NEA GSRR AL NNE DE QN EL SO TT IU ONS DN CAO3 S0 T,1 S9 ,9 C7ONTINUED F~ I E D DU SE P E ME B ER R NUED 9e 7f -e 3renceNumberCONTI Recommendation W e rs e c oe md me er nb di tg he an l ar ta et nd an tn aa cc o uo nn tt s rl ec ea is v aa bn e l g e dt t re i l ba an a l ns cr e ae ni dva a tl en aa n sn t se es cua in r td y d ep o t i l g e e e o m h y b s i da t a h t en t ec b e b a l c s u i y a l d h e uh b d i aa r pt t e r i ae pc pm rr ot pr ie ad te epo gs et nt eb ra al ln lc ee ds g2 ea rs cr oe nf te rc ot le ar ce co on uat no ss t ob ns as md oi ny ht t lr ye bo ar ss isb .e Ac do dn i. tc ol i ne ad lt yo l ,,t whe e e r c o m n d h t a t I U D 5 2 9 5 b e p e r p a d n d s u m i t e t o U I D a s e r qu r i e d L a s l t y w e e r c o m m e n d h t a t m a n a g e m e n t e v a u l t a e t h e c u r e n t s t a i f n g o f h t e e t n n a t a c c o u n i t n g e s c t i o on fa tn ht ea Acc co cou un nt in t ng gt da en ps aa tc r mt en ns l. toensur eit sca paci tytohandl eandr econci leallaspect son f e t i r io Mana~emenl'sResnonse T h c H o u s n i g A u l h o r i y t o f N e w O r l e a n s , a l o n g w i t h a c o n s u l a t n t , i s n i t h e p o r e c s s o f e r n e s e h e ur t t e cc r co cn nc ti ll yi hg ie et r dh al ne an ca cn ol ua nc tc ao nu tn ft oe rr tc he ei tv ea nb al ne ta an cd cot ue ntt nn i gan at es r as ,e wc ci i hy hd ae sp bo es ei nl id t ng de er r. sW ad t fe fn eh da fv oe r h t e t n u s bhm i tt e d f o r t he p e r o i e d e d Mea rp ca hst 31y ,1a 9r 9a 8nd .Ta hh sa i rl ef p. or tTh isr5 e2 q2 ui9 e5 r dr bp io ar nnuha ls a lyb .ee 115 HOUSIN GEWAUOTH ORAIT Y OF NIE W OR LEANS S, IA SCHEDULEFO OR FFTH NN I INEA GSRR AL NNE DDE QN EL SO TT IU OE NS DEN CA S, T1 S9 ,9 C7ONTINUED ED Y E DU SE P ME B RO 30 R7 ef4 erenceNumbe r 9 FederalProgram Allprograms(s eeScheduleofExpenditur esofFederalAwards) Criteri a PursuanttoSection15oftheConsoli daledAnnualContr ibuti onsContract " l s n~ . nnc i e a e h r e t oT fh te hc et HA Am nu i st um ci ha ai ma no em ru ap sl tt oe pa en rt md tc i tc hu er pa rt ee pb ao ro ak is t oo nf oea fc sc ao t tu en mt ef no tr st av ne dp ro pj e oc ts r s n i a c o rd an ce w t h tt UaD r e q i r e m e n sa n d o t p r m i t i t m y l a n d e f f e c i t e au d i s. t " Condi tion ol Sd ug bse idc ao i rn yt el l da gc ec ro su an ret nof tmt ae inf to il a no ew di an ngds oi / rn ri ef cc oa nn ct ia ec l dco tu on tt hs e: appli cablegeneral e r ro s or h g i --I nvest ments T h e s u b s i d i a y r e r p o t r o f I n v e s m t e n t s H ( o m e o w n e r s h p i ag ce cr oa uc nc so t )un at t S e p t e m b e r 3 0 , 1 9 9 7 e x c e e d e d h t e c o r e r s p o n d n i g g e n e r a l l ed bal anc eby$14,821. 11 6 HOUSI NNGEA UTRI tO RAI TY OF NESW OR LEANS U SC1IEDULF EO OR FT FIt NEDY IW NGAO SE AL NE DN QD US, EL STO OEI I NMI EA DN CA O30 S, T1 S9 ,9 C7 ONT1 N1 .JED E R ND E S E PT B ER R9e renceNumber,CONTI NUED 7f 4e Condi ti n.Conti nued -o Accountsreceivabl e(ot herthant enants) B d n s 1 0 a s e v ma os de er no in ze an ta on i nd )a pa rl ey ps ai e$ r do af t3a oc nc ro ru en qt uf e0 s0 t1 d. u1 i2 r n9 g4 he t e( cc oc uo ru sn et ot fr te hc eui aa ub dl ic , t m i f d o e e s h d ba en va ag ls ie dm ae er t dt ap ne dn ft oi rs we hi1 c, h5 we1 c, c9 o1 u0 dt l nr oc to ar sd se ed ser cc of li ev ca tb bl i ie ie l tt y.a Nbc oo jol ns mno at l e n r t i e w e r o p o e d o t r s o v l e h e s e u n i d n i t i e d r e c v i a e l s a o f S e p t e m b c r 3 0 , 1 9 9 7 a n d M y a 2 5 , 1 9 9 8 . S u b s e q u e n l t y , j o u n r a e l n r t e i s h a e beenpreparedbyHANOtowri te-oft heunident if iedr eceivables.v -A ccountspa yabl e-Ve ndor sContract ors l A l N O r e p o r e t d a d e b i t b a l a n c e o f a p p r o x m i a t e y l $ 4 3 9 , 0 0 0 n i a c c o u n t pe ap yt ae bm lb eer -30 ve, n1 d99 o7 s.In r aa nd ddi ct oi nn t, rt ah ce or t re sw(a Asn co cr oe uc no tnc Ni ol .t 0n 0p 1. 2er 1o 1r 1m 00e )o as t S o ia io f d f h t l d3 g n e s o s d y e r ae tr Sg ee pn te er ma bl re e 0e ,r 1b 9a 9l 7a .yc Ss ui bn st eh qi uh ea nc tc lo yu ,n ot j ut na r ap ls eu nb ri t ei i sar oa t tl ae ld ig l ne gro $r 8w 4r 8p 0o , 0t 0 w e e r e c o d r e d o t f a i l r t t a e t e a c c o u n s t a y a b l e b l a n c e o f h i c h $ 5 9 6 , 5 4 3 w a s r e c o d r e d a s a p i r o r p e r o i d a d j u t s m e n t o f r a m o u n t s t h a t c o u l notbei dentif ied.Thisamounthasbenref lecte dasques tionedcosts.d --A ccount spayabl e-Cont ractRetenti ons T h b a a l n ce i n c o u n s t y a b e l o nt ra ct e ent on i sa cc o nt ( Ae cc ou nt N . 0 0e 1 .2 1 1 2 0 ) ia s nc o t p e ip oa d i a c ll y rc e c l dr tt o d a yu d oo r . S b e q u e0 n t y l , o u r nr a e n r t e s o t to an lc ni i ge ,a 2c 7s 5u ,b 6s 2i 3i wr el ee r pg or por or se dp e bt y m n e o l y a h l a n c e$ n1 i a c o u n t sp a y ab er l c o n tr ac t ru ta e es na tg oe i nm sn at tSt ej pf ta ei mr bl es rt 3t 0e ,i 1t 9e 97b .a 11 7 HOUSIN GEWAUOTH ORAI TY,O FUNE W OR LEANS IA SCHEDULEFO OR FT FI NN I INEA GSRR AL NNE DDN QDS US ELE SO TT IE OI NS DN CA3 OS0 T,1 S9 ,9 C7ONTINUED ED l Y E E P ME B ER R7 ef4 ereuceNumberCONTINUED 9 Condi _ tion,Conti nued -P ayrolExpense n I c a c u r at ere c orda ion t of pa yr ol exp en se nt i heamountofap t $ 3 7 4 , 0 i h i r cp ero Fx oi rm ma 9el 4y 1 Empl o0 y0 erd 'u sr Qng uat tee r rp yre l Fp ea dr ea rt ao ln Tao xfI Rn et te un nal r .RevenueServi ) -( A c c r u e d L a i b l i t i i s e U i t l t i e i s W e n o t e d a s g i n i i f c a n t d f i f r e e n c e n i h t e b e g n i n n i g b a l n a c e a s r e l f e c t e d o l l tAo l Nn Ot 'o sge$ n1 er1 a1 ll, e2 d9 gerS au nds ie tsu Se en pt ty emba rd e 30a ,d 9s 1 9i 6ag ue dn tt i ee r pot rtt nl i hg t e m a t u i a n i $r 2, 1u 9c 5r ,u 35f 8u we, ri e5 p7 ra op. osr el dab nd dq rt ei oi c rl de, dxu te on fi ae ra i ls yj so tt an eep t Hte Am Nr Oes s3o ' ia l i y o l e u l t y e p s f S b r 0 ,b 1i 9l 9t 7 af nda foc rte hd eyt ai e rti he t es nn ed nde eda .t --S pNl u HwUaD ( a ) F d l n e Hau Ar Os sc uB ns ai bs e/ l tu on reB oa c na ci lc ee( hG t eA sA uP pp) r ln us /i fug ndbr all ans cel ben gc ns i ni na g b an l c es a O ob t e r 1 o r l nt he m, b1 r99 e 36 0,t 19t 9h 6ac uo dr tes i epo r ord tfn orAsu nnp uu alCba ona tr ibe uti ons Cef oe nc tt ae r cd tr Fi Wt -c 1S 1e 9p 0t .e T h e s e u n ec on i e l d diferencesareilust ratedasf oll ows: HUD-52595 AuditRepor t Di ff erenc e Ues n er r s e v r e d s u r p u l (545 4 , 16 45 , 0)$(54 ,9 8 34 7 , 86 )$3, 5 18 3 , 36 R e e v d u s r p u l s o r e a i t n g r e e s rvs e$ 3 3 5 5 7 3 Cu m a v Cp ou nl rt t bi i ue tt ol i nU sD 800 9, 35 , 30 2, ,2 60 5 47 21 2, ,0 38 39 ,, 6 48 09 1 84 6, 93 99 6, ,5 69 1 3 , 118 HOUSIN GEWAUOTH OR IT Y OF NIE W OR LEANS S, IA SC11 EDULEFO OR FFTH NN I INEA GSRR AL NNE DA QN ESL SO TT IU OE NS DEN CA S, T1 S9 ,9 C7ONTINUED ED Y E DE DU E P ME B RO 30 R7e4 erenceNumber.CONTINUED f 9 Condit ion,Continued A t o l u e n i un i tr b r 52d 5d 9i 5i an ea r ay p, pi rn oc xl md i ad el t ye l $C 0m ml la i lt ov i net oI fU Hi UDe DCo Mn di eu nt r ii zo an ts op i ne GH ro aU nD tsF wh hor cm i h w e e r i n c or r e t c l y i n c ud d8 n i C u m u a l t v H Uo D b c h a n a r x e o f h 86C mon lt i ir l oi nut di ifn es rew ncei n i Cc tc mo mu lt as tf vo i er Hp Up Do Ci om nta rt bl i uy t$ io8 n0 sm noi tl ei dn abo ovt ee .$ Ron coes e no ci ln ad i ti ig onb sa ol fnc ues s pla r us sr bf ee gc nt i nd ini gt be al aS nep et c sem ab te Or3 c0 ob, t e1 r99 16 ,a 1u 9d 9i 6tr te op to hr et c p n a e l e n h f o r A n n u a l C o n t i r b u t o i n C o n t r a c s t F W 2 0 5 3 F , W 2 2 1 7 a n d F W 2 2 0 1 w e e r notpreparedandunavail able. --Mo derni zationandDeve lopment A t S e p t e m b e r 3 0 , 1 9 9 7 m o d e r n z i a t i o n a n d d e v e o l p m e n t e x p e n d i t u e r s t ou e n e m e t s a t C Ch or me pg rh eC hr eo nm sp ip vr eh Ge as r ni tv Pn rI oi gp rr ao mv Cms ( Ge Pn )A ws ri e es nn oc te reP cr oo ng cr ia em l ds o( t sI uA bP sl i) da an i rd y l d s s e l we eg esr r nb oo trr ce e oeo nr ct l. i et dE tx op se u. bd sS it du ar i rs yqa ee l dr ge ef re sc nt oe rd eo xn pH nmA e dN tuO i r' es ra eg pe on re sr t pal ee r pd ag re er d a n d u m t i t d t o U D u b s e u n t y l , H A N O d a e a v i l b a e l t o u s r l i tsCCPfund w t i h out -of-ba a l n c e condit ionsill ustra tea d ae sc fo on lc oi l wia st :onofi Ts a r c k n i g G e n e a r l y S s t m e L e d R e r D f i f e e r n c e C o m p e r h e n i s v e G r a n t 9 ' 2 $ 1 4 9 , 3 5 2 , 1 4 $ 1 5 1 , 5 2 5 , 4 9 $ 2 1 7 , 3 5 C o m p e r h e n i s v e G r a n t 9 ' 3 7 9 , 8 4 5 , 3 2 8 5 , 7 4 9 , 7 1 5 9 0 , 3 5 8 C o m p r e h e n i s v e G r a n t 9 ' 4 8 7 , 9 0 7 , 4 5 8 9 , 4 0 , 8 1 4 3 C i 9 8 9 6 0 (1 11 ,4 69 1 5, ,4 99 13 8) ) Co om mp pr re eh he en ns iv s ve eG Gr ra an nt t' 95 ' 67 6, 25 , 48 3, 69 , 07 8 6 4, 89 , 33 6, 67 , 79 5( 4 , 0 6 , 9 3 11 9 HOUSIN NGEW AUO TRHLE ORAN ITS YL OO FUNI EI WANOA RLEANS SCt IEDUL] E?O OR FT FIH NE DY IE NGAR SE ANND DE QD U, EE SP TT IE ONS DER C3 O0 ST,1 S9 ,9 C7ONTINUED S ME B 9Re 7f 4erenceNumber,CONTINUED Condi ti on,Cont inued ] 'h e e r rees a e v e r l ba a l n eos h ee c n h n r o m a n a g e t w a sa u n w a rc e h t et coa mc po ou sn tt i os i ni ou rn pt uer pg r oe eae s wa hl cl i hed ng ee cr ed sf ir s tt aw ey t dhi oc uh r r g e o c s i ae pq pu re os pt rm io af en t nm ea sn sa oe fm ta he en bt at ao l nf ch ea sv . At dh ds te i o1 i na ac lo yw ,h st ec vh ee rs ae lr ar cc ch oe ud nt tt so iy ni he t en gf ea nt et rh ae l l e d g e r r e l f e c t d e ba l a n c e s a t S e p e t m( b e r 3 0 , 9 9 7 i w e e c o n r a r to t h e n u r e a n d d e s c r p i t i o n o f t h e a c c o u n t i . e . a c c o u n t s r e c e i v a b e l a c c o u n t s w i t h c e r d t balancesandaccountspayableaccountswi thdebi tbal ances). i Q _ u e s t o i n d e C o s s t $596,543 Comment s Repor tableCondi ti on-Materi alWeakness Effect N o n o c m p l i n a e c w t i h h t e r e q u on1 5oft heConsoli datedAnnual Contri butionCont ract. irementsofSecti Caus e Lackofadequatecontrol soverf inancialreport ing 120 HOUSINNG AUOTI tOER IT YO FN E WAO R EANS S NC AL SCItEDULEFO OR FT FH INE DEY NW I GR SR AEL NDA QND US, EL SO TIU OEI NEI S, TS1 C7 ONTI NUED EA N DE S E P T M BD ERO 30 9, 9 R e 97e -f 4renceNumber,CONTINUED Reeommendati on Wcc eou rn et cs oa mn md ep ne drf to hr am tmmao nn at gel mr ee nc to en sc ti ai bt ii l so hns so uf bst de i iab ra yla en l dce gs ri e snt fh oe rs aelac ic s go nu in it f caa ns t a h y l a h s r e f e l c t e d o n t h e s r s r o p c b e r l e e o o c o . Tcc ho eu rn et cs o. nT cih ie l ar ts ou i nb pi rd oi ca ey so sl se hd og ue dlt l nb i ct lh ue da ep dl i ei na ii t il f cw ag te on i ne oa fal hd l eg cr or mc pn ot sr tl i ii oa nc ou fm tn ht e a e c o n c i i l a i t n s s h o n d e p r e p a e r d n i r t n i g n d al l e c o n c l i n g i e t s s h o u l d b e d o c u m e n t e d a n d t h e n e c e s s a y r c o r e r t c i o n s m a d e t o h t e s u b s i d a i y r e l d g e r oi re oly j ub nas r ai ls v. oucherspr eparedandpost edtot hegeneralledgera sapplic abl eons a t m Manaeement' sResDonse T h e H o u s i n g A u t h o r i y t o f N e w O r l e a n s i s w o r k n i g w t i h a c o n s u l a t n t i n a n e f o f r t t cy stD abe ic l se hm sb ue br si3 d1 a, i y199 r e8 l d. gerforallsi gnif icantaccounts.Thi staskshouldbecompl eteo d b 121 HOUSIN GA UOTRl tOER IT YO FNE WAO R EANS N S NC AL SCHEI) ULEFO OR FFTH NNE I DEY NW I GR SAEL NDA QD US, EL SO TPU OEI I NEI S~ T1 S9 ,9 C7 ONTI NUED EA N DE S E T M BD ERO 30 R7e5 erenceNumber f 9 Fcder alPrograms Axp nne uad li Cu or ne ts rf bo i urF ie t od ne Cra ol nA tr aw ca tr sd (s A)CC)FW-1190,FW-2053andFW2217(SeeSchedul eof E n t Cri teri a t' ursuanlIoSect ion15oft heConsolidat edAnnualContri but ionsContr acts T " e A s i a t n o e d h j op f rh ht t et Hnm Au it nm ua s hn c ai mc am nh np el re at sDa on t pa ec rc mu ta i he t eb po rk es po ad rf aa ic t oc no on ft to s ar tt ei me ep nr to se ac nt d e r t t t U r e q u ir e r mt e no t , s a n t o pu e r mf t i t m e y l a n ds efo er ct ts vei i aa uc dc to i "r .dancewi Condit ion Tu hem it f ne ant co alh i rU epn oi re sd t aS st ot fs ane dp or f rm te het yf eaH ro ns e dn eg da Sed pU ter mba en rD 3e 0v ,l 1p 99m 7e pt r( eH paU eD r d) af no d s Atb Ct Cmi Ft Wnd -o 11t 9I 0e Hom ( Ut Da -n 5d 25a 9e 5pBD an ls aa na ct ed Shn eh eo ta fog re Su ei tA c ioc nn 8um anu db Pa ud bl iS cu Hre oo uu ss io nr gn ;D te Uf I Dc -t 5f 2r 5o 9mr 6 S a e e t f nc e E x e e n C n si n c l te p l i i O at o n U 5 5 e a n p n d t ) 22 0p 5e 3r ai ndn Fs Wa -d 2r 2H 7rD 1 (a HU2 De -9 59 2S 5t 9a 5t Bm ae ln at nl co ef SO hp ee tr ft oi ro Sg eR ca te ic oe ni 8t as na dd Pt uE bg lx ip ce Hn oi uu sr ne i gs aa nn dd HuF UW Dg5 6 8 1 V o u c h e f o P y m n t o f A n n u a C o n t r b i u i t n s n d O p e r a i n S a t t e m e n t I t o s n i A s i s a t n c e P a y m e n t s P r o g r a m ) d i d n o t a g e r e t o t h e i f n a n c i a l b o o k s a n d r e c o r d s ( i e . . T i r a B la F n tai l)oflANOasshownbelow: PerHUDForm l oa An Cc Ce FWu -d 1D 90e 1 P e r G e n e a r l L e d g e r 5 2 5 9 5 , 2 5 5 9 9 OrHUD5 2599 Or5 2596 A $3703 6 , 7 7 . 7 0 0 2 7 2 0 , 1 1 . 8 3 9 Dd ev va en oc l pe ms ei te n Cox tpe s 0 , 81 2 , 1 4 0 . 0 0 0 0 , 6 9 2 , 6 3 . 0 0 95 5) ) A n t t 8 9 . 7 5 8, 76 , 7, 1 ,3 18 51 .0 00 0 37 46 8, 59 , 93 3, 53 , 35 0. .0 00 09 Od pm eri ti a is gra n Ev xpeE ns esn (s 5e 2s 599) 46 99 6) ) 122 HOUSIN GWAUOTH OER IT YO FN E WAO R EANS S NC ALS SCHEDULEF' OR FFTH NNE I DE NEA GSRR AL NDA QNS U, EL SO TIU OEI NEI TS1 C7 ONTI NUED O YI EN DE D S E P T M BD ERO 30, 9, 9 R7f5 e erenceNumber.CONTINUED 9 oACCFW-2053 Oper ati ngexpens es $1 5,974,788(G/L)$15, 929, 172(52681) ACCFW-2217 ACCEarned 1, 949,200(GfL)2, 051, 462(52681) AWdd2 t0 i i5 o3 naa ls yf ,o cl ll ew ri cs a: lerrorswe renotedi nt hepreparat ionofHUDForm52681forACC F o Totaloperati ngexpenses ( Ha Us Du 52i 6t 8e 1d 291, 172 s bm )$15, Totaloperati ngexpenses H 929, 172 (cU oD re5 t2 c e6 d8 )1 15, Questi onedCost NONE Comment s Re por tableCondi tion-Materi alweaknesses 123 ttOUSIN GWAUOTf tOER IT YO FN E WAO R LEANS S NC A SCIt EI )ULEFO OR FFTH NNE I DE INEA GSRR AL NDA QNS U, EL SO TIU OEI NEI O3S TI NUED Y EN DE D S E P T M BD ER. 0T ,S 19, 9C 7ON R br er,CONTINUED 9e 7f 5erenceNum_ Eff ccl No on nt cr ob mut pi ln anC i ceomr wa ic hts. t therequir ementsofSecti on15oft heConsolidat edAnnual C i o Cause Lackofade quat econt rolsoverf inancialrepoling Rec ommendati on nat~ elnent'sReSDO h t w t u asurestoinsuretheaccuracyof rT eh pe ot rt to su as ni dng hA t eu cot mo pr li ty e eo pf oN st ie ngO or fl ae la ln ms oh na hs t li yns ci a tt it ve td i ym .e 124 HOUSINNG AUT HLO RAI TY OF NE W OR LEANS IA SCHEDULF EO OR FT FH INE DEY IW NE GAO SRE ANE DN QD US, EL SEO TU IE OI NS DN CA3 OS0 T,1 S9 ,9 C7ONTINUED R ND E S P T ME B ER R7e6 fer enceNumber 9 FederalProvrams Alpr ograms(SeeScheduleofExpendi ture sofFederalAwards) Cri teria Notappli cable Conditi on I -f r mb s n m e fn ut ne dr au dn vd aa nd cl ev san rc ee cs oa nr ce in eo l dt oe ni amur oe nd thb ly yth be ab so s.ro i Awti Sgef pu en t mdo bn erat 3i 0,el 9yb 1 9a 7si hs t eno cr oi msi bn it nr ed i n e t r fu n d b a a n e c i s $ 3 , 9 3 0, 0 00. Questi onedCosts NONE Comment s Re por tablecondi ti on 125 HOUSI NG AUT HO RAI TY OF NE W OR LEANS U IA SCtlEDULF EO OR FT FH INN DEY IW NGAO SRE AL NE DN QD US, EL STO IE OI NS DN CA O30 S, T1 S9 ,9 C7 ONTI NUED E E R ND E S E PT ME B ER R e enceNumber,CONTINUED 97e -f 6r Efect Compl icat ionofthereconcil iat ionofint er-fundacti vi ty Cause Unt imel yrei mbursementofint er-fundborrowi ng Reeommendali on W t a n e u a va s p y l reviewedbyadesignate d ine dr ie vc do i um alm oe nn ad mh ol ni ht t yr l bf an si sd ad nv da rn ec ie ms b( ur re sc ee di ob nl ae i/ t ma ea yb l be as s) sb i .e Manaeemenl' sRespons e Aun nd Asci cod uo nn te am nto Sn ut phl ry e v. isorrevi ewsinter fundrecei vables/ payables.Thereimbursementof f s 126 HOUSI NNGEA UTRHLO RAI TY OF NE W OR LEANS IA SCHEDULF EO OR FT FIH NEDY IW NE GAO SRE ANE DN QD US, EL SO TU IE OI NS DN CA3 O0 ST,1 S9 ,9 C7 ONTINUED ND E S E P T ME B ER R 9e 7f 7erenceNumber Federall' rogram ACCFW-1190(SeeScheduleofExpenditur esofFederalAwards) Crit . eria Pur suantt oSecti on15oftheConsol idatedAnnualCont ribut ionContract s " ' h s m n a n et u a k u f i ec f] o' re tr hI eA Hm Au nt i sr ua ci ht ai mc ao nm np erl ae sa tn od pa ec rc mr ir tt te hb eo po es r pn ao rf aa tc oc i no on ft to ar tt em mep nr to sj at ns d r a nc e w i t h Il U D re q u i e m e n t s, a d t o pe r ms t i t m i e y l a n d ee fp eo f ct ts ivi en aua dc ic to .d " Condi . tion oA m 7 h mebuyersi nves tmentaccountdidnotagr eetothe cot rS ee sp pt oe ndb ie nr g3 i0 l a, bi l1 i9 y9 t a, cct oe unh t;o T s n , s h reh se erh vo em se ab cu cy oue nr t' bi av ae l ns ct eme on ft $5a 6c 4c ,o 7u 1n 6tb ea r sl ua ln ic t ne gwi nas a$ d1 f4 i e7 f r8 e, n6 c3 e3ov fe $r 9us 3t 1 91e , 7h .omebuyers oc Doen tl ao lla i oc fc ho ou mnt ea bt uyS ee rp ste nvb i ee sr t3 me0 n, t1 s99 d7 d;S i ne oe tF ai gn ed r ei to9% he4corr t espondi nggeneralledger r m ng 127 HOUSIN GEA UTRHLO RAI TY OF NE W OR LEANS IA AO SCHEDULEFO OR FT FIH NN IW NE GAO SRAE NE DN QD US, EL SEO TU IE OI NS DN S0 T,1 S9 ,9 C7 ONTINUED ED Y ND E S P T ME B EC R3 R 9e 7f 7erenceNumberCONTINUED ~l Codi tion,Conti nued oa Ps roe cl ee edt sfd omt r hesal esofhomeowncrshi punit sf od rn ho t etyr ee ac ro en nc di ee dt Ses pu ep t mpbo er ri 30g ,s 1l 9e 9s 7 l o t n a dor cuf mec ne s;onthegeneralledgerofHANOdi t P r 9 3 Pr ro oc ce ee ed ds sf ro f om m1 99 1 97 7s sa al le es sp pe er rg se an le er sa dl ol ce ud mge er nts $ 57 2, ,1 87 49 0 Diference $15.661 oNoo ri d d ngvalue fhe on mt ee os ww ne rr e se hc io pr ue ni tt so st oh le db do uo rk ins ga tn hd ere yc eo ar rd es no df el dtA SeN pO emto t br ee rm 3o 0v ,e 1t 9h 9e 7c .arryi QuestionedCosts NONE Comments Report abl eConditi on-Mater ialWeakness Eff ect NCo on nt cr oi mut pi li an nCc eont wac tt i hs. therequir ementsofSecti on15oft heConsoli datedAnnual b o r Cause Lackofadequatecontrol sandproceduresregardi ngti leHomeownershipprogram 128 HOUSIN GEA UOTH OR IT Y OF NIE W OR LEANS S, IA SCHEDULEFO OR FT FIl NN IW NEA GSRR AL NNE DA QN ESL SO TT IU OE NS DEN CA S0, T1 S9 ,9 C7ONTINUED ED t Y E DE DU E P ME B RO 3 R7 ef7 erenceNumberCONTINUED 9 Recommendation Wom erco coln nms np e dtho atg Hr ANbOee sva ' cl uu ra et nd taf co cr oa ude nq iu t na gcy poa ln cd i it eh sa at nt dho ps re op cr eo dc ue ed r sur ue ts li i zn i ec dl foe rb tu ht e t am e ud notle mw i it eder ohi t :pr oM h yar l ionofthehomebnyersi nvestmentaccounttot hecorresponding iao l bn it it l yl ce cc oo un nc ti ;iat oM h y e a o si nvestmentstotheapplica bl egenera edo l gn et rl cor nc ro t on lc ai cl ci ot ui nn t;ofthedetailofhomebuyer oP o i i h d o shipuni tsasref lecled oe nr ti hd eic gr ee nc eo an r lc li el da gt eo rn toof ht t eesp ur po pc oe re ins t gfr sm al et she ds oa cl ue mo ef nh to sm ;ae no dwner ob To io mk es la yn rd ecr oe rc do ar td os i no oH t rA emN oO v. eti lecarryi ngvalueofhomeowner shipuni tssoldfromthe f Mana~ement' sResDonse Tc ho em Hm oue sn id ne gd Ach ua ln hog re is yim l om fNed ei wa Ol ry l. eansagreeswi ththisre commendati onandwi lli nsti tute e r te 129 HOUSIN GAUOTH OER IT YO FN E WAO RLEANS S A SCHEDULEFO OR FFTH NNE I DEW NEA I GR SR AL NDA QND US, EL SO TIU OI NI EBDN CO30 S, T1 S9 ,9 C7ONTINUED Y EN DE S E P T EM ER R7e8 erenceNumber f 9 Feder alProgram ACCFW-1190(SeeSc hedul eofExpendi turesofFeder alAwards) Cri teri a Pursuanttoatt UDcorres pondencetoHANOdat edApril1,1997 " a s i e u e n e o e dR ie pg s or sd ti i on i ng ot fh Pe HtH AU uD nr is sp t .r Te hc er Hb Ad ha ac sc ho t en rt ei pn s og nt ir s ba it im l ye t ote t et so as t bb le i2 hu s ss ud cR hsf yr sr et t mh s t n d a d a ss i t p ul at e d b yF e d r e al r e q u i em r n t n i 4C F P a t 85 fh oa rt am le le gt rb aa ns ei t ec ss ".a Condit ion D i h 1 n 9 u e y v sl uu br sn ag t ne tt ie aH ly ae ma or us ne tn sd oe fdn dS ee mp ot le im ib t oe nr ac3 t0 v, i t9 i e9 i s7 na i cd od j1 n ur n9 c6 ta in od nc wc tr i hr in tt sl mg oHdA eN nc r iO zr ai is t oi nn ao cl iv t ve td i ii en s. 1 o w e v r , A N O h a s o t e s a t b i h s e d an y p r oc e u e s f o r c a n y n h l s t n dl n h r a u n la el nu ril t et si tott hh ee boa okr si ag ndva el r cu oe ro df s oe t rd ee mm oo vl ei th he ed cau rn ri ys na i gd var le uc eo or fi hg t ot ee s da ep mp oo ip l sr hi et de uj no tr i s.a Quest ionedCos ts NONE 130 HOUSINNG AUOTH OER IT YO FNE WAO R EANS S NC ALS SCttEI)ULEFO OR FT FH NI I DE NW I GR SR AEL NDA QND US, EL SO TIU OEI NEI TS1 C7 ONTI NUED ,Y " EA N DE S E P T M BD ERO 30, 9, 9 R7e8 er f enceNumber,CONTINUED 9 Comment s Re por tableCondi tion--Mat erialweakness Efect Noncompl iancewit hHUDprescr ibedacount ingpol icicsandpr oce dur es Cause Fail ur et oest ablis hproceduresrel atedt oaccounti ngfordemol iti onacti vit ies Recommendat ion W e e r c o m m e n d t h a t H A N O e s a t b i l h s p r o c e d u r e s f o r t h e v a l u a t o i n o f d e m oli sheduni tsand theproperrccordati ont her eof. Manafement'sResnonse T nc ep en ng h it y r a e ah ce ceF pi tn da e he es vD ua l ar tt om i mt eo tf ht oh de uwH io t it l zu es di yA ty hu et Po I Ar wu ho of pN ee rw fs ot mO r el de hn t es 1h 9a 9s 6lr av ni ne uw aled aa un dd t. i T h e s a m etb a sas i h a l bne us e d o t r i e o fba n ut f u reb ld i n i g ha t ar e de m o s i h e d . 131 HOUSIN GAUOTH OER IT YO FN E WAO R EANS S NC AL SCI1EDULEFO OR FFTH NNE I DEW NEA 1 GR SR AL NDA QNS U, EL SO TIU OEI NEI S, T1 S9 ,9 C7 ONTI NUED Y EN DE D S E P T M BD ERO 30 R e 97e -f 9renceNumber Feder alPrograms All'r ograms(SeeScheduleofExpendit uresofFederalAwards) Cri teri a l o , u s i i n a a P , e v i e s d S t a t u e t 2 4 : 5 1 4 r e q u r h i a a s tal agenciestobeprepar edinaccordancewi ie hsgt t ene ef ran la ync ci a cl eps tt et dem ace cn ot uno tf ngal i prg no i cv ie pr ln em se .n Condit ion Cr ues rc er nb te yd l ,or Hp Ae Nr Oit pe rd eb py art seiU e sni t it f ne anS ct ia at ls sD tae ep t mar et nte sn ot nof tH heou bs ai sg sa i on fdU acr oba c un nD ine t ge pl rp am ct ie cn et s p i m h d e m n v o ( U p n s m y t t a yf u ng pI rI neD i c) pm i la en sd (, Gl Ain Ago Pu )r .i Lo oi ui so i in a, np ai Ren eo vt se i ei dn Sc to an uf t to er 2a 4i 5c : 1w 4wi rh eh qg ue rn i ee sr hl t el ia nc ac ne cp it ae ld sta tc a ec mo en nt si t of g n a o d e t i g e n er a ly a c c e p e t d a c c ou ng po rv nf i cr pn i lc ee sn .t Cs uaa re ee nn tc ye l ,s ti ht eob ae cc co or ua np ia t nr ged ei r cn oh ra dc sc or fP Hn in ot ni of i s t i na i a l t t m e n t s n a c d r n c w t i G AA .ANOdoesnotpermitthepreparat Tc hc eou mnt oi rg est ir ge na ft i an nt ta af rf eo ar sd oe fd dto fft i eh ee r nca ec su bi ei wt t en enan Gd Ad Ai Ps ans dti tn lUo Df pla an r cd t, cs i et sr ntu i cr ue l ds ean hd t e a n mc e q s i o p o i o uc e n m n o a i e a o lq tu i gi i ap tm ie on nt s, asa wlo ew la ln ac se thf eo cr apb ia td al id ze ab it t o, nac oc fo mun at ni ag gea mn ed ntes mti i pra ot vi eg mef nr sl t ai nb di rl et li as edre t cl ot se .dt t S u b s e q u e n t t o o u r d i c s u s i o n o f t h e a b o v e c o n d i t o i n , H A N O h a s p r o v d i d e u s w i h ih ne oc f ra mpi at tl oi i nza oio t an do drf em sa sn ha t eg mem oe rn et si gmnp i fro i cv nem a te an et r as sa sn ud chre al st le ad ndc ,o ss tt u. r ctureandequi pmentant d t a t a s 132 HOUSI NNGEA UTRHLOR IT Y OF NIE W OR LEANS S, IA SCEIEDULF EO OR FT FII NEDY IW NE GAO SE ANNE DAE QN EL SO TT IU OE NS DEN CA S, T1 S9 ,9 C7ONTINUED l R D DU SE P ME B RO 30 R7 eferenceNumber.CONTI NUED 9 9 QuestionedCosls NONE Commenls AuditFinding Eff ect Noncompli ancewiththerequirementsofLouisi anaRevisedSt atute24:514 Cause F lu o i es h i t a l t e coa ni vr ee sit r ones ot fa ib f nl as nh cip ar lo sc ae t td eu mr enf sor t ot t coe na fc oc ru mmtu ol ga et no en rao lf yp l ae cr ci en pe en t dtad ca ct out no ti nf gac pi ri na i ct ipt lh ee s. Recommendaii on W e r e c o m m e n d h t a t m a n a g e m e n t e x p l o e r h t e f e a s b i i i l t y a n d h t e c o s t b e n e i f t o f p r e p a r n i g i s t i f n a n c a i s l t a t m e e n t s t o c o n f o r m t o S t a t e r e p o t r i n g r e q u i r e m e n t s . A t a m n i m i u m t , h e p o r c e s mon ayve rr ei qo un ref i hmet t ul sU eDoft spG rA eaA dPsb ha es ei sso t tf opp rr os ve in dt eat hi t en. necessar yf inanci aldat atof acil ita ts e c s ro o e o Manafemeni' sResoonse T h e H o u s i n g A u t h o r i y t o f N e w O r e l a n s h a s c o m p l e i d w i t h t h e l e t e r a n d n i t e n t o f t h e l a w Ton hea con ntra acto exi eci utn edwi thi tscurrentIPAsaf nn dan apc pi rl ovs ea dt be ye tn ht es Si att t eh LeeG gA slA i at iP vef Arm uda it oa t rs s. c i a t m n o reqt uii res dbypr thv els ao w.toproduceHANO' 33 1 HOUSIN GEWAUOTH OER IT YO FN E WAO RLEANS L S NA SCHEDULEFO OR FFTH NNE I DY INEA GSRR AL NDA QNS UE, SO TT IU OI NEI CO30 S, T1 S99 ,C7 ONTINUED EN DE D SE P EM BD ER R7 ef1 e0 renceNumber 9 FederalProgram AnnualContri butionContr actFW-1190 Crit eria Notappl icabl e Condi lion W o d h 1 n o f 5 3 o an ue ou t mn ot be iF ct l ia nt se uc rh ae nc ck e,n pu rm es mb ie ur mu1 s3 w9 a7 s7 id ni ci ot rh ee cr ta ym l cu on dt es do to$ p3 o9 r p, r0 e l5 yi rn ea lp f ea cy tm pe en r pt if a d a t e d a t h t on t h t ti ha eo on rt is g. nl i ad tu or rh or fm ao nr yi dt si i ba uo ru sr et mn ee nr ss t rn ea ai l tn eg di oou ng i sh ue rd ai nc cu es si i ew qr ui ih em r da tn osg pe rm ow ve in dt et th ha e n d i v i d u a e i s g n a t e d t o m o r z i e p r e p d nt u s a r n c o n a qr u a t e r y l b a i s i h t t e n e c e s a r y d o c u m e n s t o t r e c o r d t h c n e c s e s a r y a m o r t z i a t o i n . T h e d e i s g n a t e d i n d i v d i wA an sa uu nd ai wa ad rj eu &s he en dw sba i us su r eb ms eq nu te pn rt ol i ry tp or op uo rs ne od ti ft ar io t op ne dl ur is nt gt hp t er cp oa ui rd ei s os fu tr ha en ac ue du ia tl . t mt t t s e o ocp r y a e e n . We et nm otb ee dr3 h0a t t,1 a9 n97 a. moT uhi ns ti ot fm$1d 5a 8t ,d 52b 6a wck at soi n1 c9 o9 r5 r. ecD tu yri l rn eg ct oh deec r do au sr ao pf eo r pu ar idau td i ei mwae t S p e e e s e t n o e t d h t a t l l A N O s t a f h a d p r e p a e r d a j o u r n a l v o u c h e r o n S e p t m e b e r 2 6 , 9 1 9 5 t o e x p e n s e t e d unt,howevert hatj our nalvoucherwasapparent lynotpos tedt othe gh np e rr e ae lp la ei dga em r.o 134 HOUSIN GAUOTH OER IT Y OOFN E WAO R EANS NU S, S NC AL SCHEI )UI~ EFO OR FFTH NNE I DEW NEA I GR SR AL NDA EL SP TIU OEI NEI S, T1 S99 ,C7 ONTI NUED Y EN DEQ DS E T M BD ERO 30 R7 ef1 e0 renceNumber.CONTINUED 9 Quest ionedCost s None Commenis ReportableCondi tion Effect h o racc ount ingt reatmentrelat edtoprepaidexpense Cn ap ur sp ee lJ ackofcoordinati onbet weendi sbursementandrecordati onf unct ions Recommendat ion W e r e c o mt m en d t h at m a n a g e m e n ti n ti s ut t e p r o c e d u re s t o i m p r o v e h t enf lo wt of ac co u nti ng dat a, o t e n s u e r h e a c c u a r y c a n d t i m e l n i e s n i e r c o r d a t o i n o f a c c o u n t n i g r t u t m pi en ri om i di iz cet rh ee vi eu wnti ofe tl heid ve an rt ii oc ua sti eo r pn oo rf tsm pat ee r pr ai rl et dra tn osa nt i ci lo un ds ere iq f nu aa nr cs ia ac li so tn as t. mF e er nth ser hoor s ue d l m m y f a c i i n g e r s o l u ti o n . Manafemenl'sRcsDonse Tr ho ece Hdu or ue ss it nh gai Aw ui tl hl oul ii r tm yat oe fl Nya ed wdr Oes rs lt eh ai ns sr hec ao sm cm one tn rd aa tt c ei dnw.i thac onsul tanttoest abli sh p t o 135 HOUSIN GEA UOTH ORAIT Y OF NE W OR LEANS S, IA SCttEDULEFO OR FT FIH NN IW NEA GSRR AL NNE DDE QN EL SO TT IU OI NS DEN CA S0, T1 S9 ,9 C7ONTINUED ED Y E DU SE P E ME B RO 3 R7 ef1 e1 renceNumber 9 FederalProgram ACCFW-1190 Cril eria Purs ua ntt oSecti on15oftheConsoli datedAnnualCont ributi onCont ract s "o Tr ht ehe tAHA I mui sts muc ah nta i ai nmca on mne pr ea l ts eat ndpe ar cm cui at r th ee bop or ke sa or ft ai cn coo uf nts ft ot re tm hee prt oja ec td s f n o t p a o a r e p o r s t i n a c c o r d a n c e w t i h H U D e r q u r i e m e n t s , a n d o t p r e m i t t men i ls yan nd eff ectiveaudit". Condi tion Ofthef if ty(50)cashdi sbursement s( nonpayroll )s elect edfortest ingwenot ed oFi ve(5)inst ancesi nwhi cht hedisbur sementlackedsuppor ti ngdoc ion;and t Au mm oe un nt ta 6 6 4 1 Go end ee rr ai lz Fa ut ni d C Ch he ec ck kN No o103924 $1 5, 92 , 50 2 M n o n 1 1 Mo ode en niz r zat i to on i n Ch hec ckN No1 103 398 71 2 500 0 M Mod der niza r ati on C i Che eck kNo o10 031 127 8 25 50 $18072 36 1 tlOUSINNG AUOTH OER IT Y OOFN E WAO RLEANS NU S, S NA SCHEDULEFO OR FT FH INE DEY NW ] SR AEL NDA EL SP TIU OEI NEI CO30 S, T1 S99 ,7 CONTINUED EG AR N I) EQ )S I E T M BD ER R e 97e -f 1r 1enceNumberCONTINUED Condil ion,Continued od Ii nsb ou nr eem (1e )nt iw nsa as t ni cn eco (r Gr ec ntl rac e lod Fe ud n. dCheckNo.7075i nt heamountof$90),t il e s e y Quest ionedCost s $18,072 Comments Audi tFi nding Effect Noncompl iancewi thSect ion15oft heAnnualContri butionContr acts Cause Needforimprovementinr ecordr eteuti onprocedur es 137 HOUSINNG AU HOER IT YO FN E WAO RLEANS OT N S NA SCIIEI )ULEFO OR FT FH INE DEY NW I SR AEL NDA QD US, EL SO TP IU OEI NEI CO30 S, T1 S9 ,97 CONTINUEI ) EG AR N DE S E T M BD ER R e eNumber.CONTINUED 97e -f 1r 1enc Recommendat ion Wtt ech red oo c mmth ee nds supd ps ob rt ir ngem doe cut mo enc ate t oa i nbd err et ainl ey df ol f rda. lAcd ad hi s do in sa bl uy r, cg s men ee nr ta sl al nd dge br e a i e ti e aca coue ntct odi ngca shh ouli dbu es re vi en wev dfu orh prr opn riep y.oper t Mana~enl enl ~sResDonse Account spayableprocedurcsarealreadyinpl acet oaddrest hisrecommendat ion 138 OUS I NGI AUT tO I RIT YO FI NE WDOC RLS EA NSO SCllFDULEH N 1NUEI ) FO OF RF TI HD EN YEG AS RA EN ND DQ EU DE SS ET PO TEN ME BERO 30T ,S 1, 9C 97NT R e 97e -f 1r 2enceNumber FederalPrograms ACCFW-1190(SeeSchedul eofExpendi turesofFeder alAwards) Cri teri a Notappli cable Condit ion Oft hetwenly-f ive( 25)payroldi sbursements. select edf ort esti ngwenoted oT 2 nstancesi nwhi chnojobdes cript ionwasincl udedintheemployee' sper sonnel iw f leo ;a( n) di oF i v e 5 ( ) n i s t a n c e s i n w h i h c t h e r e w a s n o E m p o l y e e H a n d b okAcknowl edgmentFor m contai nedintheemployee'spersonnelf ile. o Q u e s i t o n e d C o s s t NONE Efeei IJ ackofadequateemployeepe rsonnelf il edocument ati on 139 OUF SI NGI AU TH ORI TYE OS FI NE WDO RO LET AN SNT SCtl EDULEH N N N INUED FO OF RTI HD EYN EG AS RA END DQ EDU SET PTO EME BEC RS 30,S 1, 9C 97O R e 97e -f 1r 2enceNumber,CONTINUED Cause Coul dnotbedet ermi ne d Comments Andi lFi ndi ng Recommendati on W heach emepr oe l yco em cm sje ' on bddt eh sa ct rE ptm i op i nlo by eec maH ia nn td inb a eo dok nA i ec ak cn ho ew ml pe ld og ym ee en 't spF eo rr sm ons nt eo lg ie f lt eh .erwit Mana~ ,el nen| ~sResponse T y f w e i h et f t n o e dh ea se cH rh po i tu is oi nn sg fA oru at lh lo or fi ot uj ro emN pe oc l yO ep er sl .a Tn hs ei ys rn a et ie f lc ep dr ao sc hs ee yo au rp ed ce oa mi pg lo eo er t dc .m Ia tp il st pi on sg sj io bb e l t h t t e t w o e m p o l y e e s ' ob d es i r t o i ns w e re n ot o m p le t da t t h t im e f th e u d t i . Ie nc Je ai ne uaa rn yd1s 9g 9n 7,f wrea bH egA aN nO anPe wrso e mnn e pe ll oM yea en ou ra il enE am t tip ol no py re oe gs rh ai mr wb he ef eor r ae lt lh na et wda et mpre oc l ye ei ee s r v i o . e d e th ha et Mth ae nuf av le ane dmp si gl nye oes f ri th da uv re inn go ot ny -ge oia nt ge tn rd ae nd i ino gn se eso sf ot i nhe st hcl ts a bse es g. anW ine 19a 9r 8.up td I ia st pi on sg siv be e l t i o t a e h t P a etedbySept ember1998.Att hattime,new mer as no un an le sl wMi la ln bu ea dli sa tn id r bp utl en dtt oo ah la lv ee mi pt oc l yom esp .l 140 tO USI ING AG UTH OR IT YO FI NE WD ORO LE AN SNT SCII EDULEI I INUED FO OF RF TN HED YN EAS RA EN ND DQ EU DE SS ET PTO EN ME BEC R3S 0T ,S 1, 9C 97O R 9e 7f -e 1r 3enceNumber FederalProgram ACCFW-1190( SeeScheduleofExpenditur esofFederalAwards) Criteri a Notappl icabl e Condi tion Oo fe hean t coi ns tr aa ctc st, en st edh tc hh ath we er ec r awma rde edda dui ri nnt gtt heeyu eae red ndp ea dt See pn teb my beh r30,i 9c 1 9o 7we n Prt ocd ure mn ent ttn oae wi arw dthi ecot nt rae cto wam snn otst upo poro teh dbys cor me pl etr em de vt al uatt oneD i for re mst .rof Quest ionedCost NONE Cor nments Reportabl eConditi on 141 tOF USI ND GA UT HO RI TU YO FN EW OC RLS EAS NC SN SCHEI)ULl ~ F O NUED FO ORF TI HN EI YN EG AS RA EN ND DQ EDE SS ET PI TEN ME BD ERO 30T ,1, 99O 7TI R 97ef 1e 3renceNumberCONTINUED Eff ec| Noncompl iancewit hProcurementPol icy Cause Fai luretodocumentevaluati onofresponsetoRFP Recomn~e ndali on Werec ommendthatHANOmaint ainonf ileallfor msut il izedint heevaluat ionofawa rds anal ~enlen|~ sResDon Thcbidswcreevaluat ed 142 iOU SI NGI AUT HO RIT YO FN EE WOC RL EAS NC SN SCHEDULEt N U O NUED FO OF RF TI HD EN YEG AS RA EN ND DEQ DE SS ET PI TEN MBD ERO 3S 0T ,1, 99O 7TI R e 97e -f 1r 4enceNumber Feder alProgram ACCFW-1190(SeeSc hedul eofExpendi turesofFederalAwards) Cri teri a PursuanttoSect ion11oft heConsolidat edAnnualContri but ionsContr act " e y ts o i e s oT ph ee rc al il t nA gds bh ua dl gl ep tr fe op ra er aT ca hn odl fh ta i sv ie f ca s ap lp yr eo av re sd it nb ac mi ac nB no ea rr ,d no a df uC so io nm gm sa ui cs hs on mr r si ,a an s p r e s i r b e b y H U D . h e t A h s a l u s b m i a a l u a l t o i n o f p e r i t n gf su bs d y e g b i y nR h t r r be n i t o e ol fi Fi ei dl et ao r li ege um la aa tn on i ne sr .p te ts Uc Di hd s ab ly la rt eI vU iD ec wi tr he eg cu al la ct uo ln as ii t on nT ai nl de ,2 i4 fb co of rt rh ee cC ,n t nd a d s u b j e c t t t h e a v l i a b l i i y t o f f u n d s , t k e a i t o n w i h t i n 4 5 d a y s o f u s m i s s o i t o o b l g i a t e t h e u f n d s a n d a p p r o v e a p a y m e n t s c h e d u l e , u n l e s h t e H A i s n o t i i f e d t h a ia tl mcu ul st ti sn ubt mob tri i angi oi pn et ro ac io t nn gfo br um dgi ey tw .i Hhr Ue Dgul ma at yry rer vq su i ei oe rmae met n.T dth he eHsA ubs sia dt y c a o n t t t o e r n s h l sn ubp mro tc i re ed vu ir ss eda cn ad lcd ue la ad il t on ne ss ip nre ss pcr u pi oe rd tob fy mt aU ndD a. t" or yorot herad justme ntsbasel d o e i b l 143 HO OUF SN NGI I AG UTA HOD RIU TYS OFI NN EWDC ORS LES ANC SNT SCHEI)ULE INUED FOF RTI HD EYN EAS REN NDQ EDE SET PTO EME BERO 3T 0.1, 997O R 97e -f 1e 4renceNumberCONTINUED Conditi on l ng s w k r d n e e anceFundingSyst em(PFS)calcul ationforthe y) eu ar ri eno du er dt Se pt e emo t ber re 3g 0a ,r 1i 9g 97t wh eP nr of eo t dr :m oS u p i nt ati onwasnotr etai nedtosupportthef ollowingcomponentofthe PFSp co ar lt cn ug lad io t oc nu :me --Ot heri ncome ou Unni im smon t ot nh ts ha sv aa vi al ib lal bl eas ui sn ed di ia nt te hd eo cn aH cuU l lD at io5 n27 o2 f3 n; i ves tmenti ncomedi dnotagrcctothe t a e c o e l r ic al e r o rs i n H U D -5 2 7 2 2 A C ( al c u a l ti o n o f A l o l w a b e l U t i i l t e i s E x e ) n oC U n t i m o n h t s a v a i a l b l e a s i n d i c a e t d o n H U D 5 2 7 2 2 A d i d n o t a g r e e op t tn hs ee u; s pa pd or ting documentat ion. Questi onedCosts NONE 144 lOF USI ND GN AUT HO RIT YO FN EW OC RLS EA NS SCHI-I) ULEt U O C TI NUEI ) FO ORF TI HN EI YEG AS RA EN ND DEQ DE SS ET PI TEN ME BD ERO 30T ,S 9, 1 9O 7N R e 97e -f 1r 4enceNumber,CONTINUED Comments Audi tFi nding Effect N o n c o n p i t her equi reme nt sofSect ion11oftheConsol idatedAnnual Contri bl ut il oa nnc Ce onw tri ah ct s.t Cause I n a d e q u a t e p r o c e d u r e s r e g a r d n i g r e e t n t i o n o f s u p p o t r i n g d o c u m e n t a i t o n o f rcomponent sof hePFScalculat t ions. Recommendat ion W n d at t u ttt enP a t ra ee ar t ie nc eo dn .u Pne on r ct eh da ut ea r sll sd ho oc uu lm dte bn et ii mo pn eo l ms ep np eo t dr oh sF uS reop he t ar tti tn tg As Nub Os 'i sdy Pc Fa Slc su ul ba si io dn ybe is c c l u a l t e di ac c o d r n a c e w t i h t U D H an d bo o k 747 5e. 13 . Ie nc ae ds ds ia iy t ons ,u tp he er pv ri oo cr ey ssr se hoi uw lds. ns e uret heaccur acyofinf ormat ions ubmitedt oHUDvi at he n r s v e 145 OF USI ND I GA UT HN ORI TYE OT FN EW ORO LE AN SNT SCHEDULH E D NUED FO ORF THN EI YN EG AS RA END DQ EU DSS EPI TO EN ME BEC R3S 0T ,S 1, 9C 9O 7I R 97e -f 1e 4renceNumber,CONTINUED naf lemcnt' sResnonse A a i n n a o l n toh sa ur pd pco op ty r ca as cw l ule al tl os i nsac oo fm thp eu ot te hr ez re id nc co op myeo cf os mup pp oo nr et ni tg ofdo Pc Fu Smse ubt st di i yncw ali ulb c ae l tm onai i .tained A r e v i s o i n t o u t i nt v l e not h a o n n n o wp te i hra ht t eng unB iu td mg on nm hn t so vh as ls i aa bn la ei aa sb il ndu is ce ad edi t nHec Ua Dlc -u 5l 2t 7i 2n 3o hf asi bv ee es ntm coe mpt li etc eo dm ie ntt heag 9re 1 9e 8 O i et s ban i a s o i . C e e n i ] U c i owable Ul ir t li tc i ea i sle Er xo pr es nha ev s )es ub bee mn ic to er t dre wc it hdti t hear 9e 1 9vi 8s Oon pt eo at1 r i~ ngD B-5 u2 d7 g2 e2 tA su( bC ma sl i su il oa nt .onofAll U n t i m o n t h s a v a l i a b l e a s i n d i c a e t d o n H U D 5 2 7 2 2 A h a s b e e n c o r e r c t e d i n h t e 9 1 9 8 Operat ingt ?, udgetsubmissi on. 146 OF USI ND I GA UT HN ORI TYE OT FO NEW ORO LE AN SNT SCttEDULH E D NUEI) FO ORF TIN lEI YN EG AS RA END DQ EU DSS EPI TEN ME BEC R3S 0T ,S 1, 9C 9O 71 R 9e 7f 1e 5renceNumber FederalProgr am ACCFW-11 90(SeeScheduleofExpendit uresofFederalAwards) Cri teria 2 4 C F R P a r t 9 0 1 a n d " P I t M A P " h a n d b o o o desgui dancewi thr egardst ot he maint enanceofsupporti ngrecordsforthek ce7 r4 t6 f0 i c. a5 tp or i nv .i D n v e e cHousi ngManagementAsse ssment Pru or gi rg amou (r Ptr te Mi Aw Po )Cf et rh te fSc i ae tp it om nwbe er n3o0 e, t d1 :997Publi oC Se ur pi pf oc ra it t ni gndr oe cl ut mi ent to at ih t oe nf dl il dow ni on tg: ag reetotheamount srepor tedonthePtlMAP l i o a ng o In nd di ic ca to a or r# #6 5C Co om mp po on ne en nt t##2 2-C Aa ns nh uR ale Is ne sv pe es c; ti onofSystems; I t r I t i In nd di ic ca to a or r# #1 1c e-T To ot ta al ln nu um mb be er ro of fn do an ysd wwe hl el eng r und ia sys t w; ea rn ed de -programmed I t i s o u r u n d r e s t a n d n i g b a s e d o n d i s c u s i o n w i h t m a n a g n h bm t e aev ei r vs sei i dnf dor cua mti en ntw ti ol Hlp Ur Dope er r sl tae is t nt gbl ai mh ouac nc sur t ete r ab l tee dm tl oe ht t et aa bt oH vA et .Nr FO ur rh has t rs e mu r. ei ,t hd t e r ed o m o y a s a a e s in e sf o r f u u e e p o t r nog i 147 OUS IN GN AUT HO RI TU YO FI NEW OC RLS EA NS SCHEDULH E O TI NUED FO OF RF TI IN lD EI YEG AS RA EN ND DQ EDE SS ET PO TEN ME BD ERO 30T ,S 19, 9C 7N R r 97e -f 1e 5enceNumberCONTINUED Questi onedCosts None C s Ao um dim te Fn int di ng Efect Noncompl iancewit htherequir ementsofrecordretent ionf orPHMAPce rti fcat ion Cause Inaccurat epre par ationofs upport ingdocumentati on Recommendati on Wsp eec rt es co of mt mhe eP ndtM thA att suC pe pr ot rf tc na i gti dn oc. umentat ionber etai ne dandreconcil edtoallrelat ed a ' i i o 148 OUS IN GN AUT HO RI TU YO F NE WD OR LS EA NS SCltEDULEH D I O TINUED FO OF RF TI HN EI YEG AS RA EN ND DQ EDE SS ET PO TEN ME BEC RO 30T ,S 19, 9C 7N R enceNumberCONTINUED 97e -f 1e 5r nafement 'sResDons l c a l d u r i o e t a n a n p a n E) ct a hi se tes i om c mm pa lr ey tet sa ac mk an jg or re sp yo sr et t ms sf im nsa pj eo cr is t oy ns om f rms ,r we hm ica hi st i fi on re wd ra a dd ou I Md at ne ad gem mo et nh tl fy o. r i np u t. Suc pco pu on tt r ii ng gdD oe cp uar mt em ne tn att onf i oralc as hres ervesrelat edt oPttMAParecurr entlykepti nt he A n . T h e s u m m a r y e r p o t r o f v a c a n c y r a t e i s n o w a s a t n d a r d m e n u i e t m o n o u r c o m p u t e r s y s t e m a edeachmont hwiththedet ail edre por t.Theserepor tsaredist ribut edtoeach sn id e.isprepar t 149 OF USI ND I GA UT tO RI TU YO FN EW OC RLS EA NS SCIIEI)ULH E O O TI NUED FO ORF THN EI YN EG AS RA EN ND DQ EDE SS ET PI TEN ME BD ERO 30T ,S 19, 9C 7N R 9e 7f -e 6renceNumber 1 FederalProgram ACCFW2053andFW-2217(SeeScheduleofExpenditur es&FederalAwards) Cri teria Pur suantt ot heAnnualCont ri but ionContr act " Trhe I Abm us tmu se pro e s o d a a n f i| g ei e ngr ca om mr pc ie l ai np ct et wip hro t tv hi ee Ud .e Sc .e Hnt o, us sf ne i ga And cs ta on fit 1r 9y 37h ao nus di ag ll lo ]UIe )l ei r qul rf ea mi nli e ss t ."i Condi . ti on Oureligi bili tytestwor kont went y-f ive(25)Secti on8par tici pantf il esi ndi cated oI i nws ta e n s a e s ti h e i u t n ai e in nn sf pv ee cu t( o5 i n) si en ec r ns o, tu ci ot ri ef ci tl ed ds bi yn tp he ec oo wn ns ea rnd wn it ts he nd i tf hc ri i te ync 3i ( 0e )sr de as ysl ,i yg etin ht t ehe owf nl ed rs c o i t n e d t ore e c iv e Ho u s n g A s st i a n ce P a y m e t ; an d oR Inep wor t et n; yt three(23)inst ancesthepar ti cipantsf ilesdidnotcont ainHUD-50058( Famil y ) Questi onedCosts $8, 434 150 OUS IN GN AUT HO RI TU YO FN EW OC RLS EAS NC SN SCttEDULH E D O NUEI) FO OF RF TI HN EI YEG AS RA EN ND DQ EDE SS ET PI TEN ME BD ERO 30T ,1, 99O 7T1 R 9e 7f -e 6renceNumberCONTINUED 1 Comment s Auditf inding Eff ect Noncompli ancewit htherequir ementsoftheAnnualContr ibuti onsCont ract Cause Lackoff ollow-upbystafonfail eduniti nspecti ons Recommendati on M v e iceasi tr elate stouni tinspecti onandensure coa mna pg le am i nce cnt ws ih to hu el sd tar be isi l hw edi rt es gc uu lr ar ie t on nt sp .ract Manafement 'sResnonse Wehaveimpl ementedat rackingsystemtorevi ewthest ar esoff aili ngi ns pctions Ei eco tf vt i ehe ai J na unn ryua a 1l 9r 98c ,e Ir Uif I Dca ft oi mn a5a 0nd 05a 8c Fo ap myii ysp l Rr ei pt oe rd tsa an edp r pl ra ec pe ad edi r ore ac ll li an f mts if iel l s. att ile t mfe r e t i o n nft h e i e 151 OF USI ND I GA UT HN ORI TYE OF NE WDO RO LET AN SNT SCHEDULH E INUED FO ORF TN HEI YN EG AS RA END DQ EU DSS ET PI TO EN ME BEC RS 30,S 1, 9C 97O R 9e 7f -e 1r 7enceNumber FederalPr ogram ACCFW2053andFW-2217(SeeSche dul eofExpendi turesofFederalAwar ds ) Crit eria L o u i i s a n a R e v i s e d S a t t u t e 2 4 5 : 1 3 r e q u i e r s a u d i t r e p o t r s o f g o v e n r m e n t a l a g e n submitedwit hinsi x( 6)mont hsofthecloseoft heenti ty' sfi scalyear. ciestobc Condi ti on l e o s u t cl tA drN a eO dtf oa ti hl edOt ff is cu ebm oi ft ti ht ea Lnn egu sa i ll aa ivd t ei ar uep do tr i ot ra wso tf i hS ie np st ie xm (6b )er m3 o0 n, t1 h99 o7 fta hn ed cf lo or st eh oe fye ta i sr ft ih ce s an l y a e . Questi onedCosts NONE Comment s AuditFindi ng 152 OUS IN GA UT HN ORI TYE OF NE WDO RL E AN SNT SCttH)ULH E D T INUED FO OF RF TI HN . EI YN EG AS RA END DQ EU DSS ET PI TO EN ME BEC RO 3S 0,S 1, 9C 97O R 9e 7f 1e 7renceNumber,CONTINUED Eff ect Noncompl iancewit ht hcrequir ementsofLouis ianaRevis edStatut e24:513 Cause Var ionsweaknessesininter nalcontr oldel ayingthepr epa rati onoff inancialst atements Recommendati on Wfef eu r cr oer me mpo er nt d. thatthenecesaryprocessbei nsti tute dtofacil it atet heti mel ysubmi ssion o ut s Manavement 'sResr ~onse 3 h e l t o n s i n g A u h t o r t i y o f N e w O r l e a n s , c o n d u c t e d a t i m e l y s o i l c i a t t o i n o f a n I PA to p f mf h n . t o d u i c e t h n h d n i e r be yr to i sr unt de na i gn su oa ul ra cu ed ti ht es DS ea pf af tp r mr ed nu tc oe fi Ht os un ia s nu gd at nd dm Ur rp bo ar ns Dw ei vt eo li ot pt me ed ne .a t Hl oe wer vq eu ri te hd e , l o g s i t i s c o f c h a n g i n g I P A a n d h t e r e o l c t a i o no f t i s f o r e r I P A o u t f h e S t a e t o f L o u s i i a n a c a u s e d u n o f r e s e e n a n d u n u s u a l d e l a y s . T h s i p o r b e l m w l i l n o t o c c u r o f r h t e 1 9 9 8 a u d t i s i n theIPAisalre adyprocuredandiscurrent lyper formi ngt he1997audit. ce 153 lOF US I NGI AG UTH ORI TYE OS FI NN EWDO RO LET AN SNT SCItEDULE N N INUED FO ORF TI HED YN EAS RA END DQ EDU SET PTO EME BEC R3S 0,S 1, 9C 97O R 9e 7f -e 1r 8enceNumber FederalPr oeram Allprogr ams( seeScheduleofFeder alAwards ) Crit eria Notapplica bl e Condi ti on O scu hmanagementregardi ngprioryear s'audi tedf inancialstat ementsof llu ArNd Oi ns i ds ii co an edwi t :t V a r o t tm s s h r c ss t r e e I1 t9 A9i Nu Os 'a su ad uo di ip ta ed dj iu f ns ne cn at i le sp tr ao ep t mo ee nd td sb fy oc ro tt he es yp ee rd a se ne e eo dr Sea pu td ei mo bs e' ra 3n 0d ,1r 9f 9l 4e tc ht rd oui gn h 6 w e r e n t o s e t dat o t h b o o k s a n e r r d o f l A NdO ; Sd pu es ct fm i cn at lyi ,mt ana am geo mu et n$ t6 n6 i d0 i0 c, at0 e0 dr hf t ae tc ie td di in dH nA otN co' ns ca uu rd wt id thf aa pc ri oa i rl yt et ae rm ae un dt t i a j e n h e n , 0 e l t O i e i n n s a s f o r t h e y e a r n e d e d S e p t e m b e r 3 0 , 1 9 9 6 a n d r e s o u l t i o n o f m a n a g e m e n t c o n c e n r s r e g r a d i n thead justmentwasnotaddressedpriortoreleas eoftheaudi treport; g oM a n a g e m e n t w a s u n a b l e t o s u p p o t r t h e b a a l n c e s i n i t s s u r p u l s a c o u n s t a s r e l f e c e t d i n i s audi tedf inancia ls tatementsasofSeptember30,1 996andfort heyearthenended.t 154 OUF SI NG AU TH OD RITU YO FI NE WDOC RLS EA NSO SCHEDULEH N INUED FO OF RTI HD EI YN EG AS RA EN NDQ EDE SS ET PO TEN ME BERO 30T ,S 1, 9C 97NT R 9e 7f -e 1r 8enceNumberCONTINUED Ques tionedCost None Comments Reportabl econdit ion Effect U a l e in a d an tr Se ec po tn ec mi bb el re 3d 0i ,ff 1r 9e 9n 6ce as nb det ow f ree hnI t et yA eaN rOt h' es nf ea nn dc ei dal as nt dte hme t en St es pp te er mth be ea rc 3c 0o ,un 1t 9i 9n 6gr ae uc do tr i es d i f n a n c i a l st a t e m n e s t . Caus e Untimelypos tingofauditadjus tment s Recommendation W ere co mm en d ha t t an ag e en tr e co rd al pr op o ed au di ta dj us me en ts nat im t el yb as isa nd a r rm d rm o s d d t s ms vt io o o e s t an uy hm t oc ro in zc ae ir t on ns fe og ra ei ln eg aa ep s op fo he t oe sa eu ai ui da id ej t du it ne an nt cs ab i le sr te as eo t ml ed nr tp sp .r Ar do im tt oa i nn aa lg ye l ,m tn s i e r h a trm a n gem e nt r o c n c l e t h ef ba l n a c s e i n t h o se e or sdt t i s b o o k sia nd ec r co ordm s.endedt Manaeement'sRes nonse W e a g r e e w t i h h t i s r e c o m m e n d a i t o n a n d w i l l n i s t t i u t e p r o c e d u r e s t o i n s u e r i t m e y l p o s i t n g o alauditadjust mentsaswellasreconcil eauditr epor tstothegenerall edger. f 155 OF US I NGI AG UTH OR IT YO FI NE WDO RL E AN SNT SCHEI)ULEH N T NUED FO ORF TI HED YN EAS RA EN ND DQ EU DE SS ET PTO EN ME BEC RO 3S 0,S 1, 9C 9O 7I R 9e 7f -e 1r 9enceNumber FederalProgram AnnualConlr ibutionCont ractFW-1190 Crit eria Notapplicabl c Condi tion A m unt sd u ef or re m0b i ur se me nt un d er th e1C on gr eg tedH a ou si n Pr og amaaa mo un te dt of a po o r m e 0 e 9 s og n tr h Hp Nx Oi il na dt il cy ac e$ t d8 t0 h, a0 tt h0 ic sa it nS ce rp et ae em s sb dr u3 e0 t, oi un n9 i7 m. eu lO yeu ur s bmi ic su ss os i ni ofs rw ei mi bun rsen ma eg ne tm re en ql ueo st a nAdt m i e y e x e u ti o n o f o n r t a c t s wi th i f u n d gt o s c r . Questi onedCos! None Commenls Report ablecondi tion 156 OUS I NGI AU TH OD RITU YO FI NE WD OR LS EA NSO SCHEDULEH N INUED FO OF RF TI HD EYN EG AS RA EN NDQ EDE SS ET PO TEN ME BEC RO 30T ,S 1, 9C 97NT R e 97e -f 1r 9enceNumber,CONTINUED Effect Cashf lowconst raint sduet ounti mel ysubmi ssionofr eimbur sementrequest Cause Coul dnotbedet ermi ne d Re commendat ion Wnd ert eh ca ot mal mlu en ndb ti hl ad tHam ANou Ont ts a, ki ef ia mny me, db ie at eim sm epe t sdi oat t dl ey ers t mub nm i eit tt hd esf to ar usr t om ft hu ss i re ecee vat i bo e l a l e e e ei i h l e e ealb zar i tim onon ftt he am mpr oo uv ne tst de ueca bs eh cf auo sw es ofo uf nlt iA mN elO ya und s bmp ir se sv oe i nnt oa fn ry ei mpo bt un rt si ea mlp nro e tb el r qm us ei tn s .r anafe mel| l~sRes Tn hd eh Has ot ua sk nen i gs Ate up ts ht oo rw it yri oe fNof ewun Oco rl el l ac nti sl he asr ec ve ai lv ua ab tl db e ta hl ea Cc oe n. gregat eIt ous ingProgr am a t e b e e n s 157 OF USI ND I GA UTH OR IT YO FI NEW OR LS EAS NC SN SCHEI)ULH E G D NUED FO ORF TN HEI YN EAS RA EN ND DQ EU DE SS ET PO TEN ME BEC RO 30T ,1, 99O 7TI R 9e 7f 2e 0renceNnmber FederalPrograms Allprogr ams( seeScheduleofExpendit uresofFederalAwar ds) Crit eria Notapplica bl e Conditi on O s s n ousyearsindi caterecurrencesofaudi tf indi ngs anu drr re ev pi oe rw abo t lf ea cu od nit dr te i ip oo nr st rei as l tu ee ddt oi :previ -M a e r o g i e raccountsand ma oi nn tt he ln ya rn ec ce oo ncf is iu l ab is t oi ndi or fy sul bd sg ide as i ryf lr eda gl el rs si tn oi tf hc ean gt eng ee an r le lr ea dl gl ed rg ;e --Re concil ehome buyersi nves tment sandlia bi li tyaccount s;and --E e t iat ionsarepr eparedpr operlyandt hatreconcil ingi temsar e ren ss ou lr vet dh ta mb i ea ln yk .reconcil Q u e s t o i n e d C o s t None 158 OUS IN GA UT HO RI TU YO FN EW OC RLS EA NS SCHEDULH E D O O TI NUED FO OF RF TI HN EI YN EG AS RA EN ND DQ EDE SS ET PI TEN ME BD ERO 30T ,S 19, 9C 7N R 9%ef 2e 0renceNumber,CONTINUED Comments Repor tablecondi tio n-mater ialweaknes Efect Unresol vedpri oryearauditf indings Cause Overalweaknessesininte rnalcont rol Recommendaf ion W e r e c o m m e n d t h a t m a n a g e m e n t eva lu ate h e v n h i m t r n i nt ge se af nf dc rt ei poe rte as bl eof cot ne dif ion t na snc ae ndd te opa ar ct hie vnt e e so iw gna id icp f ar ne tv ie mn pt ri og ver mec eu nr te in nc ie ns teo nf r aa lud ci ot nf rn t old .i Mana~emenl' sResponse T i y w e actedwithacons ul tanttoaddress prh oe aH cto vn i es an pg prA oau ct hh eo sr ti ot elo if miN nae teaO udr il ta in f ns dih na gs s.contr 159 OUF SI NG AU TH OD RITY OF NN EWDOC RLS EA NSO SCHEDULEH N INUED FO OF RTI IlD EI YN EG AS RA EN NDQ EU DE SS ET PI TO EME BERO 30T ,S 1, 9C 97NT R e eNumber 97e -f 2r 1enc Feder alProgram AnnualContractFW-1190 Cri teri a PnrsuanttoSe ction1 5oftheConsoli datedAnnualContr ibuti onsCont ract " T h e H m u sh t n i tn a in c m p l e t a d a c u rr a t e br o o k s f as c c o um n o f r h t ed r o e j ts soi f t h e r p m i h i a s e t n acct ot rA dA ai nn cs eu wc tm i haa Im Ua Dn re eo qa us rt i eo me ee nr sn t at nt dc te op pe ep ma r ia tt io t mno eo yf l at nt de et fe en ct ti va en ap ur dp to i sc :r Fo uv re tr hem me r on rt el ,a Lg oe ui sc ii as nat Rb ee vip sr ee dpa Sr ad t tui tn ea 2c 4co 5r . 1d 4an rc ee quw ii et r shg the ee ir f nl al nca ic ac le sp tt ae ed t ma ec nc to su on ft ag ll g n a n e o e n a y in pri nciples. Condit ion T e l a ru e e v t g c hh t eh cs ou sb toe fd lg ae nr de ,o sf rl t un cd td u, es r sl ac nl du er qs uh ia pn md eq nu ti op fm ar pe pm ri op xr mo i ai td ee yd l $o 1e 6u 9s ,b 6y 3o 0m ,a 0n 0l 0a .d Oem ue rn dt ir se cf ul se it s oe nd s w it m a n a g e m n t i n c i a t ed h t a t t e s u b e l d g e d d n ot n i c lu d v a i r u s a n , s r t u c t u e r a n d e p m a q r a m r h n i t s a o a A Cq ou mi pm re en ht ei nt se vt i es Gc rh au ni te Pd rv oi gi ri aC mo (e Cp Ge Pr )e fs uv ne dI sm otp fr ao pv pe rm oe xn it md aA ts es yi l $n 2c 0e 0P ,a 1r 9q 5g 0r , 0m 0e( .C tL I iP s) oo ur r u n d e r s a t n d i n g h a t t e s u b s d a r y l d g e o f l a n d s r u c u t r e s a n e q u p i m e n t c u r i d v i a C A l P a n d C G P f u n d s h a s n o t b e e n u p d a t e d a n d d o e s n o t n i d i c a t e t , h e c o m p o s t i o i n o f t h e a m o u n t bydes cript iveca tegory( i.e.l and,str uc turesorequi pment) . 60 1 OF US I NGI AU TH ORI TYE OS FI NE WDO RO LET AN SNT SCI tEDULEH N N N INUED FO ORF TI HED YN EG AS RA END DQ EDU SET PTO EME BEC R3S 0,S 1, 9C 97O R NUED 9e 7f -e 2r 1enceNumberCONTI Condi tion F h a m , g o s n ca t a n l n a t c u nb t e vu ar rt oe i ur sn to i er me ,ma s in ( ea . .e mm as ne an gt ea ml en ni tid mi pt oe r vd mh e et ni tn sc ,u ed ce t .d )t ti he al tn an rd e, cs ar pu tt i ar ie l zs aa bn ld eu fe oq ru ti tp Um De aa sr s i i f a e i i e o y an ca cn cc pi ea t dls at ct ce oue nn tt np i gr pre nn i ct ia pt lo esb .Tu ht eno at mfo or uf nn ta ofc wia hl is ca ht com ue ldt np or ts be ent qa ut ai nn ti fen dde .rgenerall Ques tionedCosts None ColnInei ltS Audi tYinding Effec t Noncompli ancewi ththerequirementsofSect ion15oftheAnnualContri butionsCont ract Caus e LG acP k. ofes tabli shprocedur est omaintai nsubledgersforf ixedasset sacqui redvi aCIAPand C 161 HO OUF SN NGI I AG UTA HOD RIU TYS OFI NN EWDC ORS LT EA, NSO SCHEDUI,E INUED FOF RTI HD EYN EAS REN NDQ EDE SET PTO EME BERO 30,S 19C 97NT R r nceNumber,CONTINUED 9e 7f 2e 1e Reeomme ndali on W m t u e r a i a ie ne co lr ue sc vo i em fe an ld ll lt ah na dt ,i sa tl ra un cd u, t re es sr ac nt du qs e ua pn i md ee nq tu ai np dm te hn at ts tu hb esi ud s br sy d. i il ae rd yg le er dgb ee rmaa mi on ut nin te bd c r c n c i e l dot o a l a p p l c a b l e g n er a l l ed ge r c on r t o l a cc o u n t a m o un t s navement' sRespons e Tec ho en Lci al nd d,o Sn tra um ct uo rn et sh ,l anb das Ei q. ui pmentaccounthasalwayshadasubsi diaryl edgert hati s r e y s 162 ItOUS1NNG AUT HO RAI TY,O FUNE WO RLEANS N SUMMARF YOSRCT HHEE DE UYW LEAO ORE FLE FD INN DDS NSL I GO ST AEI NS DIA QR UA3 E0 ST,1 O99 I N7 EDCOSTS E R N E E P M BE Section1-SummaryofAuditors'Results Fi nanci alSt atements Typeofaudi tor' sre por ti ssued lnte n r a l C o n o v n n a ti r g ~R Me ap to et ir r ab ll wO ee ar knF ei si sa esc ( )i il dR ee ne tp fo i dn ~ r a t l e c o n d t i o n s ( ) i d n t fee i d t h a t a r e n o t c o n s d i mate rialwea knese er se ?dtobe Nno ot ne co? mpl iancemateri altof inancialst atements d Fe deralAwards ]ntcma l C o n t o r l O v e r M j a o r P o r g a r m s ~Mat erialweakness(es)i dent if i: ed? R p t r b e i ) i t ie he t to a ae ea r nl oe tc co on nd si it do en r( ds e ti od be en mf ad erial t w ea kn ss ( s ? ) " y f p e o f u a d t i o r s ' r p e o t r s i s u e d o n c o m ance formajorprograms: pli A n y a u d t i i f n d n i g s d i s c o l s e d h t a t a r e r q e u r o b e e r p o t r e d n i a c c o d r a n c e w t i h e s c t i o n 5 1i 0e ad ( )t of Ci rcularA-133? 163 Qualif ied Yes Yes Yes Yes Yes Qualif ied Yes HOUSINNG AU TRHO T I Y,O E WAO RLEANS ERA N OFN U S SUMMARYSCIlF EIO )R UIT EHOEE , FYW FIO NR DE NL I ADS NS DL UEI ESI TIN ORA N3 E0 I, )1 C9 O7 STS,CONTINUI, ;I ) E A NG DS E EQ PT M B E 9 Sect ionISummaryofAudit or s'Result s,Conti nued Ident if icationofMajorPr ograms C Feder alGranl or/ProeranlTit le NF uD mA ber U. . D ep a r mDe t n t o f I l o u i s n g aS n d U b r a n e v e l o p m e n t : DP ru i eb cl ti Awa ar dI sndi c n d a n H o u s n i g O p e8 r i t n g S u be i s d y 4. 1 .8 85 57 0 S i o n R n t a C r i t i f c eDl ' o 4 1 Pe uc bt l c i na a de l n d al i n t l o u s na i gt rr ug gram ~ l 1 m n i t o i n P o g a r m 4 1 Publ c nd a t n Ci oi ma pa rI hn e ed ni sn ir vl eo Gu rs ai ng tProgra m 4. 1 .8 85 54 9 PubC l c i n d I n d a i n l t o u sr no i gvement h Ao sm sa ip tr s ae ne cn es Pi rv oe gI am r mp 4.852 1 Do l a l r t h r e s h o l d t o d i s i t n g u i s h b e t w e n e T y p e A andTypeBprogr ams: $2, 462,539 Audit cequali fe daslowriskaudite? No 164 HOUSINNG AUT HO RI TY O FUNE WAO RLEANS L SUMMARYSCHF EO DR ULT EHOEE FYW FIA NO DRE IL NE GDA SN ADS N, DO QT UEI ES SI TN ORA I N3 E0, )1 I C9 O97 STS,CONTI NUED E R N E SE P M B E SectionII-FinancialSt atementFi ndi ngs S eegS ch ed le of Fi nod ng i sa nd Qu es ti one doC o ts s in th esa cco mp an yi ng e r tf r e r p cu r e t o ,c n e ep coo mr mo et nh de at if od ne aa nl d mro anr aa gm em, ei mt 'r si ra e, sc pon nd si eio on, t tq hu ee fs ot li on l wed nc i gf is nt ao nm ci am lse tat e, t mef ef nc tt i, f nc da iu ns ge s, .r REFERENCENUMBERS 977 -1 97 7 9 97 7-1 18 1 9 3 9 9 4 9 97 %5 97 70 9 97 7219 0 9 7 2 1 165 HOUSIN GA UOTH OR T Y,O FUNE WO RLEANS WI AI N SUMMARYSCItEF DOR UT LEHN OFE NR DR IL NN GE AS NL DEO QT UI ES SIA TE IN OA N3 E0 D,1 C99 O7 STS,CONTINUED E YF EA E DS ED S P E M B R Secli onIII- FederalAwardFi ndi ngsandQuest ionedCos ts S ee Sr che du e l of Fci ndi ng s nqd a Qu e st io ne dsC o st inth et cco a mp a ny ng,r i ep or tmf ornt he f ede al r p t a o o c , o mr ao ng aa gm em,c er ni te 'r si r, es pon od ni st ei tn o, thu ees ot f li lon we id nc go fet d, eo rm alm awe an rs d,e if f nf de ic nt gc sa au nse dqr ue ec so tm onee i dd ca ot si tn .and s REFERENCENUMBER 97 7-2 1 9 97 7-7 5 9 97 7-1 12 1 9 97 71 16 5 9 9 97 7-3 4 9 97 7-8 9 9 97 7-1 13 4 9 97 71 27 1 66 1 ltOUSINNG A TH O E OARLEANS WUO RRO LER AIT NY S, LF OFN UI SWI A STATCUS OE NMN GES ~O I ONOF DIP TR IOI NR SY AE NA DOSA TIU lED RIT Pa l' ;1 CN OI) M] N, DRE ATI IR ONTA SBI. R1U ~M FlP R, t ~R I NCI~ ; ; I)I' S3"U AN 'I 'R JE [ SSOINEI N I' ; SCR1lrl ; 'l ON RESOINI ;I) ) 96-1 f Mor aa nl i tl aa ic nc suu pn pt on rg ti nt gan ds oa cc ut mon es m. ation o i r i I m p r o v e h t e a d m n i i s r t a i t v e i f l n i g ao nc dum ele r en nt il l oi non o. fimportant d a 96-2 h np ro veac om mu ni c al ion be w t een t he i f a i tm s on 1 en nc se un rs en td hb au ta ad lg le it f nn ag n. cd ie ap la nr i nrc f mnt al ion a nd p a l a e r c c u a r t e 96-3 1 l) csio gn nt ao eao t pe rsoa nnc neew i aci hh dla ew ps ar ta mnd nt e o t rem gul ati onrc i s.mpli X 96-4 R ec pe ev ri oe i dw ica al ll yr be t riv ca ob ll ee cb ta bl i ia in l yc .es 96-5 M a n i l a . i n s u b s i d a i r y e l d g e r s f o r a l l se gr i nf fm i cam nton ge nl er ale leo dgc erl aa ci co ous nts P or o aryth ey l dgr erc stn oti hi et gen ner al ef l ds gub rs e .idi 96-6 a Rn ed cp ona cia el l thb ea il nn ec l re fs unm don et r ch el iy v, abl e y b e a X 96-7 i Rv ece os nm cie enl l ta hn ed hl oi mab ei bi ut yca rc scount n t l y s X 96-8 c Mon al nr i te at ir ne ate cut ro en ns t. ledgerofal a n i X 167 HOUSI NG AU THO RIT Y,O FN E WAO RLEANS U S SN TD AI TTI UO SN OS FA PRNN OEO I RWT YO E]R AR RLE SA AN UOS DM IL TO IN NI DI NN I GIA SN ,RS I, -C ~O t ORNTT AIN BU I,I ;I) 1 CO D t E R E C MFE D A T O ~ RIU (M :II I I~ ~ (I ~R NCI DESCRI STAU TN UR SI N E PTION RESOLVI, D ; ~SOINH) 96-9 a Er nep ure s epa r hr t ae tdp bar np ke rr el cy oa nn cd il it at ia ot ns o h r iugi temsar ere solved te mco i en lc yi .l 96-10 E e h aa cn cs ou ur ntt sa at real cu on l su es de odnb aan ik t mel y b s i s . 96-11 E n s u e r ha t t m o d er n i z a i t o ns p r o g r a m s a r e o i f c i a l y c l e d outonat imel ybasi s.o 96-12 M a e h cn oa li ln tt a ei rn an lc ro ppi e os tso r ff rt omep il f ne ad ng ce id al i s i t t u i t o s . 96-13 H A N Oed i d n o tp r o v d i eps u f i f ci ent d o c u m n t a i t o n o f c o m i l a n c wom thpe i ct oi ni rae t cb ti pd rd oi vg isr oe i nq sui ae nm deent c t v n r s f o r o n e d i s b u s r e m e n t o f t h e s i do it sh be urM se mod ee nr tsi sa et li cn e teP dro og f rra em t sx tt ny i g t n z o . 96-14 a Crc oni st rc t ut cc to on i ntr ca oc ntf al r cts ane de in nch om ne se is ti es nt ta an nc det ni i coe mw plr et e i o s n s . x( *) *SecPage1 69 168 HOUSINNG AU THO RAI TY OOFN E WAO RLEANS S SN TI AI TT[ 1I SN OS FA PRND OEO I RWT YO EtR AR RLE SE AN UOS D, IL TMI :U IN NI I)I INN GIA SN ,RS E,C PO ORNTT AIN BU I3I ;I) ' CO ) O I E R C M E D A T O S R1U 3M ' :1I 3~ ' ,~ ~ ER NCF, I S)TAU TN UR SESO1NI N I )ESCRl PTION RESO1, VFd ;I) ' 96-15 O y bu s n s sr ef lt eh ce es t dix ot f rad hi t es Se er ce tm oe i ne 8t P o g r a m , c n c e l d c h c k s f w s 1o or 1 lt ho cpd ri os vb iu dr ee dm bp yen Htc Ao Nul Od t q t po aa rd ti ce ipu aa ne tl cy os su lp .orlthe s x( *) 96-16 l l A N O d i d n o t s u b m t i r e e br udgr ga tstosr e lUqu Dir fortheSv ei cs td on8 i P U D No oli cemPa He I 946.edbytt x( *) 96-17 H AmNO di d no t el ect ro ni ca ll yr s t rm U 5 8 Su eb cI tI ii oI nF 8o ai r1 i1 t cP pD i ai nt0 s0 a5 sef r qo red b y U ) Npm c e l l 9 6 20 .ui x *) ( 96-18 H AfN O di dn ot ob ta nna i na ud it p m r n c t te hr ei Po uC be id l cai nl da Ic no dr id na a Hce ow usi nh i e l ) t o m p a i n c e S u ( e 3 h yP ei at reN nu dm db e Sr ep9 t5 em1 b) ef ro 3r 0t ,1e 996 *o Urt th l ie mf ats ea rl ey se oa lr ue in t od ne od fS te hp et iem f nb di ne g3 s0 r, e1 p9 o9 t6 r er des ntw i hi t eh sH chU eD du. lA eon fyi is f ns du ins go sr ae ndce qp ut ei sn iont t ea dtm coa sy s t f i c r ro es st uh ta l fv re omno It tb Ue Den 'sc do en es t ri mde nr i ad tii on nt ah ne dau esd r oi lp ue ir t of no orm ft hd t ef ao orf f es r mca el ny te oa i nr ede i9 f n7 dix nga sc ac no drs qa uh ec se iw t oni eh d c e t e i 19 n i o d n t OMBCir cularA-133. 16 9 HOUSI NG AUT HOERAI TY,O FUNE WAO RLEANS STN1 A) TIT UI SON OFSA PRNN OERW I YHO ER ARL RR SE AN US DM IL TO IN NI 1S )I INN GIA SN ,RS I, ;C POON RTT AIN BIU .I F' .) CO D OT E C O MFE D A T O 1 ; R ; ' I F I 1 ~ : , ~ 1 N 2 ' C I ; ' STATUS NI/ MBI ;R DESCRI ' P' IJON FW-94-I P i n a tU1 ) 9u 4b -Fl Wc/ -l 2o 0u 1s -i 1g 00O 5,p Je ur nt eio 2n 9s ,1994 C rl ee qa ur ee sd t6/98alI FW-93-I l P' ubg lia cH9 ousi nW gDr ugl: 3iminat ion Clcared Aro prr l2m i 7,3 9F 1 93-201-1008 FW-96-1 l r l ives NotanAuditorReview 9' 6o -c Fu Wre -m 2e 0n 1l -1o 8f 0R 2e ,s Ji ud le yn 5tl ,n 1i 9i 9a 6l FW-96-2 G b i ted 96a -r Fa Wge -2C 0o 1l -l 1e 8c 0t 3o ,n July17,1996 D 6o /q 9c 8u ;m Ce ln ct as rs au nb cm cUi r e u e s t e d b y H D FW-96-3 9 l6 lAF NWO-2 V0 e1 hi1 c8 l0 e6 A,S le op wt ae nmc eber30,1996 Cleared FW-97-1 9 t7 tAF NWO-2 E0 v1 ic1 i8 t o0 n4, PM roa cr ec sh20,1997 p Cr lo ep ao rs ee dd ob nyaI cI iU t oI n) s FW-97-2 R e t le ar an ce pe nd i ng 9e 7v -Fi Ww-o 2f 01M -a 1i 8n 0t 6e ,n Aan pc re lO i 4,ve 1r 9i 9m 7e C i u e ms aa nn i lc ce ny ao nf ca ea mn aw ng ua c u r e r n t l a w t i i n Boardapproval T h e a b o v e r e p o r s t w e e r t h e e r s u l t o f a u d i s t a n d / o r r e v i e w s c o n d u c t e d b y l U l D , O f iceof f lnspccl orGcneral(OIG) . 70 1 HOUSI NNG T EA WUOTI Rt LO ERA1 NY S,O LF ON UE ISW IAO NR ALEANS E T SX EPI TC EMON BEF RER 30E ,N 1C 99E 7 An x te cd ow nfe er end r ci ecu ws as sd. he l] d' oi ln Wdi ev di nu ea sl ds aa yt ,e Jn ud yi l 8,t 1e 99e 8.i Tco hn ef ie f nr dn ic ne gw se nr a da rs ef co mlo o mws n: e dati ons m ene ii t on e s e he d ng h x t e e lt OUSI NGAUTHORI TYOFNEWORLEANS M s . K a r e n N e w t o n R p e r e s e n i t n g t h e U S . . D e p r a t m e n oc fu It li oe usM ngo i &i Ur rbt aA nlN )O ev clopmt cnt M n n E v Mr r. .R Mo ca i hl ad eM lu Ka es lo y l Ex xe e c ut t v i eAu Dd in et r ct to od rC -tl Amp I Nl Oi M s . L i n d a t l l D r i o i a n o a n ce le Ac Nr O, M r . J r e o m e A n d r e s o n C h e i f F i n a n c a i l O i f c e r l l A N OM r . M c i h a e l M o l s e y A c o c u n t a n t A d m n i s i r t a o t r 3 HRAA Ns Ooci Ms.AnaVargas CV t , (R HAAs Ns Oc sa ' :e ( os nI sn uc t. l ant s) Ms.Connietti ll CV a , HAs ( No O'i st Ce os nI sn uc l. ants t ) UNO&TERVAI I ,ON.CERTIFIEDI'UBLI CACCOUNTANTS M r . M c i h a e l B . B r u n o , C P A , C G F M M a n a g n i g P a t r n e r M r . P a u l K . A n d o h , S t , . C P A , C G F M S e n i o r M a n a e g r Mr.ArmandPinkne y Audi tSupervis or Son bu u eqr s un ene tl yn ,oa nlm Tht ue rr sa dl y,es a Ae uc gus st2i 0h ,19e 98on ce on mt mo unt cae i ti ou nsi wr tp i hr mad nat gd emeu ny t2 nd, i ic a9 t9 edthei r c Wec apr pe rec ci ati eth ecoa ur tei ier s sep xt ent dew dt outh t sbc yt het mas naf geh mea ntd ant de sto ft a ofa le tANJ Ol dur8 n1 i gt he8. udit a BE RI1T NOFI &D TERVA1.ON C JulR y28I ,19E 98PUBLICACCOUNTANTS 171