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Lebanon delays start of FY2025 financial audit after accounting conversion discrepancy
Summary
City staff told the council they postponed the FY2025 audit after discovering a roughly $75,000 discrepancy tied to a data conversion into a new financial system; the issue appears isolated to internal utility reconciliations, staff said.
City staff announced at the council meeting that the start of the fiscal year 2025 financial audit was postponed after staff discovered a reconciliation discrepancy in the city—anking records. Troy (staff member) told the City Council the issue stems from the conversion to a new financial system and that as of the update "we're about $75,000 long in the bank versus where we've got so the bank's got more money than we think it should have." He said the discrepancy…
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