| Organization: | Office of the State Auditor |
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| Date published: | March 29, 2018 |
Executive Summary
In accordance with Section 12 of Chapter 11 of the Massachusetts General Laws, the Office of the State Auditor (OSA) has conducted a performance audit of the Southfield Redevelopment Authority (SRA). In this performance audit, we followed up on issues identified during our prior audit of SRA (No. 2012-1452-3A) to determine what measures, if any, SRA’s management had taken to address these issues. Specifically, we examined SRA’s financial planning activities, its financial viability, the adequacy of its internal controls over the procurement of services, oversight by its board, and compliance with filing requirements for its annual financial reports.
During our current audit, we found that SRA, in response to our prior audit’s recommendations, had developed plans for completing the East-West Parkway, providing and financing a water and wastewater system, and financing future infrastructure requirements; effected better oversight by its board; and improved its internal controls over the procurement of services. However, SRA still needs to improve in certain areas.
Below is a summary of our findings and recommendations, with links to each page listed.
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SRA should take additional measures to ensure its financial solvency. |
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SRA should immediately develop plans and take the measures necessary to ensure that it can fund its contingent liabilities should they occur, in addition to making sure its future cash flow needs will be fully met. |
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SRA did not file audited financial statements in a timely manner. |
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SRA management should send the agency’s annual financial audits to OSA within 120 days of the close of the fiscal year. If SRA cannot meet the 120-day reporting requirement, it should work with the Legislature to amend the relevant legislation to reflect a timeframe that is achievable. |
The PDF version of the audit of the Southfield Redevelopment Authority (SRA) is available here.
Abbreviations
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BRAC |
Defense Base Closure and Realignment Commission |
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CEO |
chief executive officer |
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DDA |
Disposition and Development Agreement |
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DOD |
Department of Defense |
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NAS |
naval air station |
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NASPC |
Naval Air Station Planning Committee |
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OSA |
Office of the State Auditor |
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SRA |
Southfield Redevelopment Authority |
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SSTTDC |
South Shore Tri-Town Development Corporation |
Aerial photo of the former South Weymouth Naval Air Station by Kevin Rutherford.
Table of Contents
Appendix
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