The Area Housing Authority of Ventura County's financial numbers are accurate and meet generally accepted accounting standards, a new independent audit report shows.

The Area Housing Authority Board of Commissioners, at its Feb. 25 meeting, accepted the audited financial statements for fiscal year 2008 from Mayer Hoffman McCann P.C., Certified Public Accountants. The auditors released an unqualified report noting that the financial statements "present fairly, in all material respects, the respective financial position" of the authority as of June 30, 2008.

The audit report is presented each year to show how the housing authority's finances fared in the previous fiscal year.

"The audit is performed for the purpose of forming an opinion on the financial statements that collectively comprise the agency's basic financial statements," said Douglas Tapking, executive director for the authority.

The Area Housing Authority's commitment to meeting and surpassing all Department of Housing and Urban Development standards has resulted in the agency's multiyear rating as a "high" performer.

"This audit report shows we have a strong financial foundation," said Tapking, "and use our resources wisely. I commend staff for their high standards and prudence in financial matters in this uncertain economy."

The Area Housing Authority serves Camarillo, Fillmore, Moorpark, Ojai, Thousand Oaks, and Simi Valley and the unincorporated areas of Ventura County.