RAD Board Receives Special Audit of Carnegie Library
The Allegheny Regional Asset District Board today received the report on the Special Audit of the Carnegie Library of Pittsburgh conducted by an independent auditing firm, ParenteBeard LLC.
According to the District's Audit Committee that reviewed the report, "Based on the review, it appears that the Trustees approached the operations, finances and planning for the future in a reasonable manner based on the facts available to them [last Fall]. Since the Library has decided to maintain its organizational structure for 2010, the plan of operations submitted with its 2010 application remains in good order."
However, the Audit Committee cautioned that the report also makes clear that "even under the most optimistic projections, maintaining the current cost structure at Carnegie Library will require additional resources for operations and to meet the capital needs" over the next five years.