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Atlantic City casino reinvestment board defends performance after report criticizes spending

Atlantic City casino reinvestment board defends performance after report criticizes spending ATLANTIC CITY — The Casino Reinvestment Development Authority briefly addressed a critical state audit during its first public board meeting since the report was released last week. The discussion lasted roughly two minutes and revealed little new. The meeting, the first since auditors criticized CRDA for failing to track millions of dollars spent on Miss America, beach concerts and The Walk outlets, also drew little interest from the public, some of whom were more concerned about noise on the Boardwalk and empty storefronts near Boardwalk Hall. No one on the board, other than Chairman Robert Mulcahy, addressed the issue Tuesday. Local officials not surprised by scathing CRDA audit Given the checkered history of the Casino Reinvestment Development Authority’s fiscal practi… “I want to make sure that the public understands that the Casino Reinvestment Development Authority is audited annually by one of the top independent accounting firms in the nation,” said Mulcahy, reading from a prepared statement. “Those professional audits have resulted in unmodified clean opinions, confirming the authority’s design, implementation and maintenance of internal controls relevant to the preparation and fair presentation of financial statements. I think that’s very important in terms of things that have been said or done.” Mulcahy was referring to Mercadien Asset Management, of Hamilton Township, Mercer County, which conducted CRDA’s 2017 statutorily mandated financial audit. Other firms, including Wiss & Company LLP and Friedman LLP, have been used by the authority in prior years. But the 29-page state performance audit, released by the state Office of Legislative Services and the Office of the State Auditor, was the first such review of CRDA since its inception in 1984. The objective, according to the report, was to “determine whether financial transactions were related to the authority’s programs, were reasonable and were recorded properly.” CRDA criticized for fiscal mismanagement in state audit report The Casino Reinvestment Development Authority was sharply criticized in a state audit for it… One example noted in the report was a contract for emergency roof repairs at Boardwalk Hall that resulted in nearly $2.1 million being overspent by the authority. In its response, CRDA said the lapse of time between identifying the need for the repairs and the subsequent emergency work was not taken into account by the auditors.

For the original version including any supplementary images or video, visit https://www.pressofatlanticcity.com/news/press/casinos_tourism/atlantic-city-casino-reinvestment-board-defends-performance-after-report-criticizes/article_cc61e631-3338-5ed7-8cde-3d5424a29cc2.html

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In 2015, Brockton voters approved the casino project by a 143-vote margin, with 7,163 votes for the proposal and 7,020 votes against it. Mayor Bill Carpenter has been a cheerleader for the Brockton casino's proposal for reconsideration of the city's casino bid. "The proposed site, the Brockton Fairgrounds, is the single largest parcel of undeveloped commercial real estate in the city,” Carpenter said earlier this year. “As the city’s mayor, I have to look at this opportunity as a very significant piece of economic infrastructure for our city." At the same time, detractors of the Brockton casino bid remain fierce in their opposition to the proposal. "This is generally just a recycled proposal," said the Rev. Jill Wiley, a retired pastor who is part of the Stand Up for Brockton anti-casino group.

For the original version including any supplementary images or video, visit http://www.tauntongazette.com/news/20180921/brockton-casino-backers-push-for-second-chance

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