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Active · Investigation · Reviewed October 11, 2026

Peninsula Airport Commission: audit follow-up and City funding

Review financial-control findings, corrective action and Newport News’s funding obligations.

Overview

Compare the FY2023–FY2025 independent airport audits, their management responses and subsequent board minutes. Trace repeat financial-control findings to implementation and testing records; compare Newport News funding with the applicable agreement and appropriation.

Source notes

Each audit covers its own fiscal year. Assess the status of each finding separately; correction of one does not establish correction of another. Management targets are distinct from dated implementation and independent control testing. Board reports of funding are distinct from reconciled appropriations, payments and receipts. These office-level findings do not establish individual responsibility for every commissioner or employee.

Documents (12)

Search this case’s document text

12 of 12 reviewed records. Source links and release indexes are identified separately from archived copies.

Timeline

Dates follow the cited records; document dates are labeled separately.

  1. December 11, 2023

    FY2023 audit reports financial-control findings

    The independent audit reports a financial-reporting and close-process material weakness and a segregation-of-duties significant deficiency. Management responses appear in the same report; they are not independent verification that corrections were completed.

  2. December 3, 2024

    FY2024 audit marks the close-process finding corrected

    The FY2024 audit marks the FY2023 financial-reporting and close-process material weakness, finding 2023-001, corrected. Separately, it reports significant deficiency 2024-001 in segregation of duties and financial-reporting review, including missing secondary review of manual journal entries and inadequate review of parking-lot month-end reports. Management expected cross-training and personnel assignments by July 1, 2025; this is a target, not independently verified completion.

  3. November 26, 2025

    FY2025 audit repeats the review finding

    Significant deficiency 2025-001 repeats FY2024 finding 2024-001. The auditor reports annual journal-entry-summary review but inadequate timely secondary approval of manual entries, recommending independent approval at least monthly. Management describes reassignment and cross-training, with a July 1, 2026 target. The response does not independently verify that controls were implemented or effective.

  4. May 21, 2026

    Airport director reports $3.1 million in FY2027 City operating support

    The approved minutes record the executive director reporting City Council’s May 12 adoption of its FY2027 operating budget with $3.1 million in airport operating support. This is the director’s account of the allocation. The operative appropriation and payment records are still needed to reconcile authorization and disbursement.

  5. July 16, 2026

    Commission chair reports full receipt of the FY2026 allocation

    The approved minutes record the chair reporting that the final City funding draw arrived in the last week of June and that the airport received its full FY2026 allocation before year-end. The passage gives no dollar total and is not an independent payment reconciliation.

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Open questions

Records still needed (2)

  • Audit and corrective action

    Dated duty assignments, cross-training completion records, the adopted journal-entry approval policy, monthly approval logs and subsequent control-testing results addressing the relevant findings.

    Likely custodian: Peninsula Airport Commission; City Finance; independent auditor

    Compare stated management targets with dated implementation and test results. Establish whether an independent reviewer approved journal entries at the required frequency and whether the controls worked.

    Submit this record

  • City contribution and obligations

    Governing funding agreement or other authority; FY2026 and FY2027 City appropriations; draw requests; City payment vouchers; and matching Commission receipts and ledger entries, separated by fiscal year and operating or capital purpose.

    Likely custodian: Peninsula Airport Commission; City Finance; independent auditor

    Establish authorized amounts, payment dates and purposes for each fiscal year. Reconcile appropriations and reported receipts to the underlying payments without combining periods or operating and capital support.

    Submit this record