VICTORIA — The British Columbia government is restricting new funding to a major non-profit housing provider after an independent review found mismanagement by a former top executive atthe province's housing corporation.
The forensic investigation by Ernst and Young says the probe uncovered"significant risks to public funds" and lack of government oversight at BC Housing, the Crown corporation that develops, manages and administers subsidized housing.
While the review uncovered financial mismanagement, Premier David Eby told a news conference it did not find evidence that public money had been stolen. In addition to restricting new funding, the province says it will physically inspect Atira-operated buildings and suspend the renewal of agreements with Atira until a review of the operator's financial transactions related to BC Housing is complete.
The report tabled in the B.C. legislature on Monday follows an earlier Ernst and Young probe released last June, a week before the province announced it had fired several members on the BC Housing board.
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