Beltline special service district financial review 2022 - October 2022
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BeltLine Special Service District Financial Review 2022
Released October 2022 Download the Full Report here Download the Highlights Page here We undertook this audit because in March 2021, the Atlanta City Council approved Ordinance No. 21-O-0049, which created the BeltLine Special Service District and required the city auditor to provide a financial review of the district every two years. This is the first review undertaken. |
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We found:
Our recommendations focus on guaranteeing that the entities meet bond requirements and ensuring that City Council has the information needed to decide on the special service district tax rate.
- Three main entities are responsible for administering the special service district: AURA (Atlanta Urban Redevelopment Agency), ABI (Atlanta BeltLine, Inc.), and the City of Atlanta.
- We identified some inconsistencies and lack of clarity for bond requirements and for roles and responsibilities, which could pose a risk of noncompliance.
- ABI spent $14.2 million as of June 2022 and had not yet completed written policies and procedures for its activities within the special service district.
- AURA developed district-specific policies and procedures that contained most control activities mandated by the bond requirements but were missing procedures for key activities.
Our recommendations focus on guaranteeing that the entities meet bond requirements and ensuring that City Council has the information needed to decide on the special service district tax rate.