AUSTIN, Texas -- A program aimed at teaching Austin residents how to save money didn't appear to follow its own advice.

Auditors said the Matched Savings Account program failed to track the progress of its participants and rarely checked how the money was being spent. The program was a mix of federal money and the city's Affordable Housing Trust Fund, with $300,000 from each.

It was supposed to help low-income folks save up to buy a home or pay for college. Instead, auditors say it covered an array of expenses with no checks and balances.

"If it is going to be administered by [the Neighborhood Housing and Community Development Department], in my opinion it should be housing focused," Mayor Pro Tem Kathie Tovo said. "It shouldn't be focused or have a significant component that is focused on businesses."

Program managers said they've already incorporated most of the suggested changes. However, most of the money's already been spent. So far, 82 participants have been served by the program.