(Des Moines, Iowa) – State Auditor Rob Sand, today (Friday), released an audit report on the City of Audubon. There were no, unusual findings noted in the report, just some issues with administrative oversight, which is a common feature of reports from the Auditor’s Office.

FINANCIAL HIGHLIGHTS:
The City’s receipts totaled $6,352,289 for the year ended June 30, 2022, a 2.8% increase over the prior year. Disbursements for the year ended June 30, 2022, totaled $5,181,056, a 7.8% decrease from the prior year. The decrease in disbursements is primarily due to the decrease in capital project activity in the current fiscal year.

AUDIT FINDINGS:
Sand reported seven findings related to the receipt and disbursement of taxpayer funds. They are found on pages 48 through 56 of the report. The findings address issues such as a lack of segregation of duties, errors in financial reporting, disbursements exceeding budgeted amounts and deficit fund balances in the Special Revenue, Road Use Tax and Economic Development Funds. Sand provided the City and the component unit with recommendations to address each of the findings.

Six of the seven findings discussed above pertaining to the City, are repeated from the prior year. Sand said “The City Council has a fiduciary responsibility to provide oversight of the City’s operations and financial transactions. Oversight is typically defined as the “watchful and responsible care” a governing body exercises in its fiduciary capacity.”

A copy of the audit report is available for review on the Auditor of State’s website at Audit Reports – Auditor of State.