Goldsboro’s HUD funding in jeopardy

Goldsboro City Manager Tim Salmon told key city staff and members of the City Council Friday that funding from the U.S Department of Housing and Urban Development will likely be suspended.

The move by HUD would be the latest repercussion of the city’s failure to submit its 2018-19 audit.

“Goldsboro will receive a HUD non-compliance finding in the near future because the City missed federal deadlines for submission of the FY19 Audit financial statements due Mar 31, 2020 extended to Sep 30, 2020,” he wrote in an email obtained by the New Old North. “The likely impact will be a suspension of the funds.”

Salmon added that an additional consequence could include “federal monitoring of the financial management of the City’s HUD programs for one to five years.”

The news comes four days after the city missed the Nov. 30 deadline levied by the N.C. Office of the State Treasurer for submission of the 13-month-late audit.

Goldsboro’s inability to turn over the long overdue report has already led to the suspension of nearly $700,000 in North Carolina Housing Finance Agency funding, the withdrawal of the city’s bond rating by Moody’s Investors Service Inc. and the loss of the city’s ability to borrow money.