Municipal market - February 2023
Released: February 2023
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We undertook this audit because the Department of Enterprise Asset Management expressed concerns about not receiving rental payments or loan repayments from the Municipal Market Company per the current lease agreement with the city.
Our recommendations to the Department of Enterprise Asset Management Commissioner and to the Mayor's Office are to improve compliance and to strengthen oversight.
- We could only confirm that the Municipal Market Company complies with one of its main four responsibilities to the city.
- There is no evidence that the market ever made a payment on a federal loan used for improvements to the market.
- The city has inconsistent records of the market submitting required financial documents.
- The market has been paying to maintain the facility, and we found no evidence of disrepair.
- The market lacks a comprehensive strategic approach for managing the market’s mission and goals.
- The market has not enforced the terms of its tenant lease agreements.
- The market has not established selection criteria or a standard application for potential tenants.