Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Business News: Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News
    • Rs 5,000 SIP vs Rs 5 Lakh Fixed Deposit: Which Delivers Bigger Returns
    • Understanding Long/Short Funds: Strategies, Examples, and Benefits
    • Moneycontrol to host fifth Mutual Fund Summit in Mumbai
    • What Is the Federal Funds Rate?
    • Axis Greater China Equity FoF vs Edelweiss Greater China Equity Offshore Fund: Risks, returns and portfolio compared
    • Best Nippon India funds: Top 3 schemes with over 20% XIRR in 10 years; Rs 10,000 SIP turns into up to Rs 40 lakh – Mutual Funds News
    • Value of Prize Bonds sold last year rises to 365m reversing four years of decline 
    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

    Business News: Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

    June 29, 2026

    Understanding Long/Short Funds: Strategies, Examples, and Benefits

    June 29, 2026

    What Is the Federal Funds Rate?

    June 29, 2026
    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

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

    November 19, 2023

    Business News: Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

    June 29, 2026
    Don't Miss
    Funds

    Business News: Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

    June 29, 2026

    How a student who gatecrashed a careers fair caught EY’s attention, landed an internship: ‘He…

    Rs 5,000 SIP vs Rs 5 Lakh Fixed Deposit: Which Delivers Bigger Returns

    June 29, 2026

    Understanding Long/Short Funds: Strategies, Examples, and Benefits

    June 29, 2026

    Moneycontrol to host fifth Mutual Fund Summit in Mumbai

    June 29, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Google CEO Says AI Investments Are ‘Paying Off’

    October 30, 2024

    Former Mozambique finance minister on trial in US over ‘tuna bond’ scandal that spurred debt crisis

    July 17, 2024

    Aligning Your Roth IRA Investments With Your Racial Equity Values

    February 21, 2025
    Our Picks

    Business News: Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

    June 29, 2026

    Rs 5,000 SIP vs Rs 5 Lakh Fixed Deposit: Which Delivers Bigger Returns

    June 29, 2026

    Understanding Long/Short Funds: Strategies, Examples, and Benefits

    June 29, 2026
    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

    ₹9000 monthly SIP can help you retire at 45 with ₹2 lakh monthly pension

    May 5, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

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