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Fort Thomas finance committee weighs twice‑yearly budget review amid internal control, staffing concerns
Summary
At a brief Finance Committee meeting, members discussed holding formal budget amendment reviews twice a year, the discovery that the city—s internal financial statements were materially misstated, questions about auditor independence, and whether to hire an internal finance director or rely on external accounting support.
Fort Thomas Finance Committee members discussed whether to review budget amendments twice a year, concerns that the city—s internal financial statements had been materially misstated and the related question of auditor independence, and staffing needs for accounting oversight.
Committee members opened the discussion by proposing a more regular cadence for budget amendments. "I think looking at them twice a year would be could be advantageous if we can get to that point certainly," Finance committee member 1 said. He followed by asking whether the city should create "a dedicated line for budget amendments on an annual basis" that could "roll over to the next fiscal year" if unused.
A second committee member framed…
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