Status report to FGOC
Cotnriirltee Agenda Date: February 26,2004
Agenda Item No, 16
County of Santa Clara
Office of the County Executive
Office of Affordable Housing
FGOC-CEOl 022604
Prepared by: Brandi Hoffman
Assistant Housing
Coordinator
Reviewed by; Marjorie Matthews
Director, Office of
Affordable Housing
DATE:
February 26, 2004
TO:
Supervisor Pete McHugh, Chairperson
Supervisor James T. Beall, Jr., Vice-Chairperson
Finance & Government Operations Committee
FROM:
Jane Decker
Deputy County Executive
SUBJECT:
Nine Month Implementation Status Report on the Internal Audit of the Housing Bond Fund.
RF.COMMFNDEr) ACTION
Accept the attached nine—month implementation status report from the Office of Affordable Housing on the Internal
Audit of the Housing Bond Fund (formerly referred to as the Housing Bond Trust Fund.
Board of Supervisors; Donald F. Gage, Blanca Alvarado, Pete McHugh,Jim Beall, Liz Kniss
County Executive: Peter Kutras Jr.
1
Commrttee Agenda Date: February 26,2004
Agenda ttetn No. 16
CONTRACT HTSTORY
None
REASONS FOR RECOMMENDATION
Item 3.1 of the attached Status Report encourages management to seek the opinion of County Counsel regarding the
legality of the contract with Villa Vasona, Ltd. As of February 10, 2004, County Counsel has conducted a thorough
review of the 1995 bond refunding deal and subsequent letter agreement made between the previous Housing Bond
Coordinator and the Villa Vasona Project Owner. County Counsel will send a memo to the Board of Supervisors under
separate cover on this issue.
Item 4.1 states that the management should seek the advice of County Counsel regarding outside Bond Counsel services.
County Counsel is still reviewing the matter and will provide an opinion as to whether a new contract with current Bond
Counsel is recommended. If County Counsel advises in writing that a new Bond Counsel should be sought, the Office of
Affordable Housing will proceed according to the County contracting policies and procedures.
BACKGROUND
The Internal Audit Division of the Controller-Treasurer Department conducted a review of the County’s Housing
Bonds/MCC Programs Trust Fund for the three fiscal years 2000 through 2002, and issued their report dated April 15,
2003.
The six month status report regarding the implementation of the Internal Audit's Recommendations was approved on
October 23, 2003. Two remaining items were outstanding as of October 23, 2003; both items require legal advice from
County Counsel.
STEPS EOT J OWTNG APPROVAL
None.
ATTACHMENTS
•(Transmittal submitted on Feb 18, 2004 11:13:48 AM - PDF Version)
• Audit Matrix (Miscellaneous)
Board of Supervisors; Donald F. Gage, Blanca Alvarado, Pete McHugh,Jim Beall, Liz Kniss
County Executive: Peter Kutras Jr.
2
Agenda Item No, 16
County of Santa Clara
Office of the County Executive
Office of Affordable Housing
FGOC-CEOl 022604
Prepared by: Brandi Hoffman
Assistant Housing
Coordinator
Reviewed by; Marjorie Matthews
Director, Office of
Affordable Housing
DATE:
February 26, 2004
TO:
Supervisor Pete McHugh, Chairperson
Supervisor James T. Beall, Jr., Vice-Chairperson
Finance & Government Operations Committee
FROM:
Jane Decker
Deputy County Executive
SUBJECT:
Nine Month Implementation Status Report on the Internal Audit of the Housing Bond Fund.
RF.COMMFNDEr) ACTION
Accept the attached nine—month implementation status report from the Office of Affordable Housing on the Internal
Audit of the Housing Bond Fund (formerly referred to as the Housing Bond Trust Fund.
Board of Supervisors; Donald F. Gage, Blanca Alvarado, Pete McHugh,Jim Beall, Liz Kniss
County Executive: Peter Kutras Jr.
1
Commrttee Agenda Date: February 26,2004
Agenda ttetn No. 16
CONTRACT HTSTORY
None
REASONS FOR RECOMMENDATION
Item 3.1 of the attached Status Report encourages management to seek the opinion of County Counsel regarding the
legality of the contract with Villa Vasona, Ltd. As of February 10, 2004, County Counsel has conducted a thorough
review of the 1995 bond refunding deal and subsequent letter agreement made between the previous Housing Bond
Coordinator and the Villa Vasona Project Owner. County Counsel will send a memo to the Board of Supervisors under
separate cover on this issue.
Item 4.1 states that the management should seek the advice of County Counsel regarding outside Bond Counsel services.
County Counsel is still reviewing the matter and will provide an opinion as to whether a new contract with current Bond
Counsel is recommended. If County Counsel advises in writing that a new Bond Counsel should be sought, the Office of
Affordable Housing will proceed according to the County contracting policies and procedures.
BACKGROUND
The Internal Audit Division of the Controller-Treasurer Department conducted a review of the County’s Housing
Bonds/MCC Programs Trust Fund for the three fiscal years 2000 through 2002, and issued their report dated April 15,
2003.
The six month status report regarding the implementation of the Internal Audit's Recommendations was approved on
October 23, 2003. Two remaining items were outstanding as of October 23, 2003; both items require legal advice from
County Counsel.
STEPS EOT J OWTNG APPROVAL
None.
ATTACHMENTS
•(Transmittal submitted on Feb 18, 2004 11:13:48 AM - PDF Version)
• Audit Matrix (Miscellaneous)
Board of Supervisors; Donald F. Gage, Blanca Alvarado, Pete McHugh,Jim Beall, Liz Kniss
County Executive: Peter Kutras Jr.
2
Document
Memorandum from Deputy County Executive, Jane Decker, to Supervisors McHugh and Beall, and the Finance and Government Operations Committee regarding a Nine Month Implementation Status Report on the Internal Audit of the Housing Bond Fund (formerly referred to as the Housing Bond Trust Fund).
Initiative
Collection
James T. Beall, Jr.
Content Type
Memoranda
Resource Type
Document
Date
02/26/2004
District
District 4
Creator
Jane Decker, Deputy County Exec.
Language
English
Rights
No Copyright: http://rightsstatements.org/vocab/NoC-US/1.0/