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The OIG recommends that the City relinquish the apartment to the French Market Corporation to rent to the public. This would ensure that the City receives a benefit equivalent to the fair market value from this high demand property. The OIG is an independent agency and will continue to facilitate the efficient and effective utilization of the City’s limited resources as we identify and mitigate risks facing the City.

Auditors found positive results during follow-up testing that demonstrated that the FMC implemented the majority of the 2013 report’s recommendations. All FMC sponsorship payments to other organizations included a cooperative endeavor agreement (CEA) which was in compliance with the Louisiana Constitution. The FMC also ended a lease agreement where it previously earned $1.00 per year, and instead, entered into a new lease agreement where the FMC collected approximately $180,000 in the first year.

The New Orleans Office of Inspector General (OIG) conducted a performance audit of the French Market Corporation’s (FMC) policies and procedures regarding the use of funds for the period January 1, 2010 through December 31, 2011. The objective of the performance audit was to evaluate the FMC’s internal controls over use of funds and test if these controls were implemented and operating effectively.

The New Orleans Office of Inspector General (OIG) followed up on its 2011 report “French Market Corporation’s (FMC) Credit Card and Expense Reimbursement Policies.” The objective of the follow‐up report was to determine whether the actions proposed in the FMC’s response to the recommendations from the 2011 Report were implemented and operating effectively.

The New Orleans Office of Inspector General (OIG) reviewed the French Market Corporation’s (FMC) policies and procedures relating to credit cards and expense reimbursements. The review examined internal controls over employee credit card transactions and credit card use and expense reimbursements for the period July 1, 2007 through July 31, 2010.

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