San Francisco City Attorney Demands Audit

Posted by accountingweb on Nov 29 1999 95 printer friendly

All is not well in the city by the Bay. According to sources, San Francisco City Attorney Louise Renne has called for an audit of 30 companies that were awarded more than $72 million in construction contracts for expansion of the city's airport.

This audit is an effort by the attorney to determine if these companies illegaly received profits from a minority "set-aside" program. Investigators already visited many offices in early- to mid-November to retreive and copy documents in preparation for the massive audit.

"Set-aside" is a program by the city of San Francisco to certify economically disadvantaged minority- and women-owned businesses to receive bid preferences on city contracts. The law also requires firms that win big city contracts to use these companies as subcontractors and suppliers.

The attorney began the audit based on investigations by the FBI and a Federal grand jury.

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