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City staff correct clerical errors in claims cover sheet; council to receive investment report instead
Summary
City staff told the council that clerical errors on the claims cover sheet overstated funds on deposit; the council will receive the bank investment report monthly to reduce retyping errors.
City staff told the International Falls City Council on Aug. 4 that clerical errors on the claims cover sheet produced incorrect totals for May and June and that staff will now attach the bank investment report to the packet instead of manually retyping the totals.
Finance staff explained the fund balance report generated from the city’s financial software was correct, but staff had inadvertently copied an old month’s figure into the manually prepared claims cover sheet. Emma, the city finance director, said the claims cover-sheet error caused a reported balance of about $10.27 million to be reduced to the accurate total of $6,827,531.30 for the reporting period. The council was told the investment report will accompany the fund balance report going forward to reduce human transcription errors.
During public comment, resident Lois Lundin reviewed the mismatched figures and staff confirmed the correct deposits total for the covered period was $6,827,531.30. City staff noted June (and late-year months) typically show lower cash-on-hand before property-tax and state-aid receipts arrive.
