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Brookshire finance staff flags $1.1 million gap; council votes to hire outside accounting help
Summary
City finance staff reported a discrepancy in transfers from Wells Fargo to NewFirst and a $1.1 million sum unaccounted for; council authorized an outside forensic/accounting review and directed staff to continue internal verification.
Brookshire City officials directed staff to bring in outside financial expertise after the city finance officer reported an apparent discrepancy in bank transfers from Wells Fargo to NewFirst.
At the May 1 City Council meeting, Natalie Lyons, who identified herself as part of the city finance department, told council members she traced a year-end balance in a Wells Fargo tax account of $1,585,086.16 and could not reconcile a subsequent transfer into NewFirst accounts. Lyons said an estimated $1,100,000 that should have moved was “unaccounted for” in her preliminary review and that Wells Fargo returns were needed to complete verification.
The finance department requested help getting full…
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