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Cross Plains committee approves April financials and highlights segregation-of-duties audit finding
Summary
The Finance Advisory Committee approved April 2025 financials and discussed an annual audit finding common to small municipalities: limited segregation of duties. The finance director outlined simple monitoring reports — new-vendor additions, billing adjustments and pay-change checks — the village can run to reduce fraud risk.
The Village of Cross Plains Finance Advisory Committee unanimously approved the April 2025 financial report and discussed an audit finding the finance director said is “common for smaller municipalities”: limited segregation of duties that can increase fraud risk.
During reports the finance director described possible compensating controls that could be implemented without adding staff: a routine report of newly added vendors (only two staff currently can add vendors), periodic review of billing adjustments, and a log of pay-rate changes for supervisory review. The director framed those reports as monitoring steps to check work already done by village staff.
Committee members voted to approve the April financials by voice vote (mover and seconder not recorded in the transcript). The committee also discussed routine operating details raised in the packet, including refund procedures for utility final bills when title companies double-pay and library services such as checkout Wi‑Fi hotspots offered to patrons.
No additional formal actions were recorded for follow-up beyond the committee’s plan to bring the audited report to the village board and to circulate the committee’s proposed monitoring reports for review.
The committee did not take new policy action at this meeting; members asked staff to prepare the audit item for the upcoming board meeting and to circulate financial statements and monitoring options in advance of the next committee meeting.
