Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City audit finds month‑end/year‑end processes sound but under‑documented; finance vows SOPs by June
Summary
An internal process audit by Baker Tilly found Santa Fe’s month‑end and year‑end close procedures largely work but lack written policies, consistent review records and some disaster‑recovery documentation. City finance officials committed to having standard operating procedures and improved review controls by the end of the fiscal year.
Baker Tilly’s internal audit of Santa Fe’s month‑end and year‑end financial close found the city’s procedures are operating correctly but rely too heavily on institutional memory rather than written rules, the consultants and city staff told the governing body on Nov. 12.
The consultant’s report identifies three main findings: the absence of formal written policies and procedures covering month‑ and year‑end close tasks; limited evidence that reconciliations and aging reports have a separate documented review and approval; and missing archival documentation for a 2023 tabletop exercise on IT disaster recovery. Baker Tilly Director Chelsea Ritchie said the work itself is sound but “without having documented…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
