Insufficient Performance Bonds Posted
Department of Public Works and Highways · 2023
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceContracts were signed even though the financial security bonds provided by contractors were not enough.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Contracts were approved and entered into by the District despite the insufficiency of the performance bond posted."