Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Mutual funds trim small-cap bets as institutional flows chase large caps – Jefferies explains what’s driving the trend – Money News
    • Debt MFs see outflow of ₹1 lakh cr in Sep on withdrawals from liquid, money market funds
    • Mutual Funds KYC: How To Check And Update Your Status, Here’s A Step-by-Step Guide | Savings and Investments News
    • ETFs vs Individual Stocks: What Should You Buy?
    • What the changing dynamics of inflation could mean for UK bond markets
    • Debt MFs witness ₹1 lakh cr outflow in September on withdrawals from liquid, money market funds
    • SBI Mutual Fund’s top 5 SIP plans – up to 20% CAGR in 10 years; Rs 10K investment turns into Rs 35 lakh – Money News
    • BOV announces issue of up to €325 million unsecured euro medium term bonds
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Funds»City audit reveals mismanagement of federal COVID funds
    Funds

    City audit reveals mismanagement of federal COVID funds

    September 18, 2025


    BALTIMORE (WBFF) — A Baltimore city council meeting Wednesday night was filled with questions about the city’s management of millions of tax dollars. Council President Zeke Cohen convened the meeting following an audit that revealed the city has failed to meet state and federal deadlines for filing financial reports for five consecutive years.

    “This is federal requirements and it’s never good to have any kind of lateness,” said Cohen.

    ALSO READ | Baltimore sees unexpected tax revenue boost, but overtime spending concerns linger

    City finance department staff attributed the delays to factors beyond their control, including the impact of COVID-19, staffing issues, and training new employees.

    “The story of the days and number of days highlights the impact of COVID. The impact of staffing and training new staff,” they said.

    The audit also uncovered issues with the management of $641 million in federal COVID relief funds. An independent auditor informed council members that the city failed to comply with federal guidelines for managing these funds, known as ARPA dollars.

    “Monitoring issues and cash management issues, items that’s where we would say that the city did not comply within the requirements set forth in uniformed guidance,” said auditor William Seymour.

    Councilman Yitzy Schleifer expressed concern over the findings. “To hear they’re out of compliance is quite shocking,” he said. Schleifer warned that the city’s mismanagement could jeopardize the funds.

    “It’s quite shocking to see there are significant weaknesses and what that means is that money will have to be returned to the federal government if it’s not done correctly,” Schleifer said.

    The city had spent tens of thousands of dollars hiring staff to manage the federal funds.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    Debt MFs witness ₹1 lakh cr outflow in September on withdrawals from liquid, money market funds

    October 22, 2025

    National University of Singapore to sell US$500 million in funds

    October 21, 2025

    Sovereign wealth funds, including Singapore’s GIC, drive biggest deals in US$3.5 trillion M&A year

    October 21, 2025
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    ETFs vs Individual Stocks: What Should You Buy?

    October 22, 2025

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023
    Don't Miss
    Mutual Funds

    Mutual funds trim small-cap bets as institutional flows chase large caps – Jefferies explains what’s driving the trend – Money News

    October 22, 2025

    The Nifty 50 reached an intraday high of 25,932 on October 21, 2025, also a…

    Debt MFs see outflow of ₹1 lakh cr in Sep on withdrawals from liquid, money market funds

    October 22, 2025

    Mutual Funds KYC: How To Check And Update Your Status, Here’s A Step-by-Step Guide | Savings and Investments News

    October 22, 2025

    ETFs vs Individual Stocks: What Should You Buy?

    October 22, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    L’unité de Batic Investments and Logistics décroche un contrat de services de sécurité en Arabie saoudite -Le 12 février 2025 à 07:08

    February 11, 2025

    Ocado Plans to Borrow From Bond Market for First Time Since 2021

    July 29, 2024

    Best flexi cap mutual funds to invest in August 2024

    August 9, 2024
    Our Picks

    Mutual funds trim small-cap bets as institutional flows chase large caps – Jefferies explains what’s driving the trend – Money News

    October 22, 2025

    Debt MFs see outflow of ₹1 lakh cr in Sep on withdrawals from liquid, money market funds

    October 22, 2025

    Mutual Funds KYC: How To Check And Update Your Status, Here’s A Step-by-Step Guide | Savings and Investments News

    October 22, 2025
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹10,000 monthly SIP in this mutual fund has grown to ₹1.52 crore in 22 years

    September 17, 2025
    © 2025 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.