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January 25, 2010
City Auditor’s Report: LB Ready to Comply with Stimulus Funds Requirements
Audit Evaluates City’s Stimulus Readiness
City Auditor Laura Doud released an audit today
assessing Long Beach’s readiness to comply with
strict regulations of federal Stimulus Funds. The
report, “Internal Controls Over Stimulus Funds,”
concludes that the City has made significant
progress toward establishing the necessary internal
controls to adhere to Recovery Act requirements.
Click here to download the audit.
The purpose of the Recovery Act, signed into law
last year by President Obama, is to stimulate the
economy and preserve and create jobs. Funds granted
to local governments such as Long Beach come with an
unprecedented level of accountability.
“My Office took a proactive approach to make sure
systems are in place to comply with the high
standards attached to Stimulus dollars,” said Doud.
“By getting out in front now we can assure taxpayers
that the City has protections in place to spend the
money as it was intended.”
These Stimulus funds are considered “high risk” for
fraud, waste, and abuse because of the large amounts
of money to be granted and pressure to spend it
quickly.
“Additionally,” said City Auditor Doud, “with proper
controls in place, the City can avoid the penalties
of non-compliance, which include termination of
funding, withholding of funds in the future, or
repayment of funds already received.”
The audit report addresses the many requirements of
accepting Stimulus grant money, including: jobsite
postings of whistleblower protection provisions; a
“Buy American” policy requiring use of U.S.
manufactured steel; and prevailing wage compliance.
“While continued diligence and attention is needed
with these funds, we are pleased that Long Beach has
taken its responsibility seriously to implement
controls and minimize risk of non-compliance,” said
Doud.
Staff Contact:
You are encouraged to contact
Olivia Silva Maiser, Director of Communications at
562-570-6434 or at
Olivia.Maiser@longbeach.gov
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