Title
Communication from City Controller Michael Lamb submitting a Performance Audit of the Department of Finance Real Estate Division, Property Acquisition and Disposition, dated March 2011.
Body
SEE ATTACHMENT
Attachment
Performance Audit
DEPARTMENT OF FINANCE
REAL ESTATE DIVISION
PROPERTY ACQUISTION and DISPOSITION
Report by the
Office of City Controller
MICHAEL E. LAMB
CITY CONTROLLER
Douglas W. Anderson, Deputy Controller
Anabell Kinney, Management Auditor
Gloria Novak, Assistant Management Auditor
Ron Ieraci, Research Assistant
Dave Henderson, Performance Auditor
March, 2011
March 22, 2011
To the Honorables: Mayor Luke Ravenstahl and
Members of Pittsburgh City Council:
The Office of City Controller is pleased to present this Performance Audit of the Department of Finance Real Estate Division Property Acquisition and Disposition conducted pursuant to the Controller's powers under Section 404(c) of the Pittsburgh Home Rule Charter.
EXECUTIVE SUMMARY
The Department of Finance Real Estate Division is split into two sections, Taxation/Collection and Property Sales. The Property Sales section manages, maintains, and markets tax delinquent City owned properties on behalf of the Three Taxing Bodies: the City, School District, and Allegheny County. This audit assesses the Property Sales section property acquisition and disposal criteria, policies and procedures. Audit scope
is budget years 2008-2009 and the first half of budget year 2010, ending June 30th
Findings and Recommendations
Three Taxing Bodies Shared Accounts
The Trust Fund is funded by the sale of properties. Sales revenues are divided among the City Treasurer's Sale costs Three Taxing Bodies, the City's share, the School District's share and the County's share. Excess revenues are not distributed to the Three Taxing Bodies, but are invested. All expenditures are...
Click here for full text