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CityHousing Hamilton acts on risk management recommendations

CityHousing Hamilton officials are implementing a series of risk management recommendations as suggested by the city's auditor.
CityHousing Hamilton officials are implementing a series of risk management recommendations as suggested by the city's auditor. AM900CHML

Changes are being made to the way that CityHousing Hamilton hires contractors with a goal of reducing the risk of fraudulent activity.

The organization says it has accepted more than 20 corrective recommendations from the city’s auditor in areas such as cash handling, documentation of bids, the following of purchasing policies for goods and services and segregation of duties.

CityHousing Hamilton CEO Tom Hunter says some changes have been made already while others are in progress.

READ MORE: Hamilton councillors approve specifics of spending $50 million on poverty reduction

The audit’s findings come to light as CityHousing Hamilton prepares to play a major role in the construction and repair of affordable units, within a council-approved strategy to invest $50 million over 10 years in poverty reduction.

Hunter will return to the audit committee within six months with an update on how the auditor’s recommendations are being implemented.

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CityHousing Chair Chad Collins has told Hamilton’s Audit, Finance and Administration Committee that he’s thankful to see the recommendations since without them, “we could find that we have financial issues staring at us that could have been avoided.”