(Des Moines, Iowa) – Auditor of State Rob Sand today (Thursday), released an audit report on City of Massena, Iowa. A summary of the report follows:

FINANCIAL HIGHLIGHTS:
The City’s receipts totaled $3,780,006 for the year ended June 30, 2021. Disbursements for the year ended June 30, 2021 totaled $3,177,796.

AUDIT FINDINGS:
Sand reported thirteen findings related to the receipt and disbursement of taxpayer funds. The findings address issues such as a lack of segregation of duties, the lack of review of monthly bank reconciliations, the lack of reconciliations of utility billings, collections and delinquent accounts, disbursements exceeding budgeted amounts and a deficit fund balance. Sand provided the City with recommendations to address each of the findings.

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.