CFO admits oversight in unauthorized payments to engineering firm

In a recent government meeting, a significant oversight regarding financial transactions was brought to light, raising concerns about board transparency and adherence to policy. The discussion centered around two payments made to Ethos Engineering, totaling $102,000, which were issued without prior board approval.

The Chief Financial Officer (CFO) acknowledged the error, stating that the payments were for work completed but admitted it was a \"complete oversight\" on his part. He took full responsibility for not cross-referencing the account number to ensure the payments were for ongoing projects that required board consent.

During the meeting, it was confirmed that one of the payments had been processed, and efforts were underway to recover the funds. The CFO indicated that the firm had agreed to return the money, although it had not yet been received at the time of the discussion.

Board members expressed their concerns about the lack of communication regarding the payments, emphasizing that transactions exceeding $50,000 should be brought to the board's attention for approval. The CFO noted that the issue was included in a recent communication but acknowledged that the board was not informed until nearly a month after the payments were made.

This incident highlights the need for improved financial oversight and communication within the board, as members seek to ensure compliance with established policies and maintain transparency in financial dealings.