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Stonecrest finance director flags audit as 'high risk,' says budget fixes posted
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Summary
Finance Director Franklin told the Stonecrest Finance Committee her 30‑day scorecard rates audit status as 'high risk,' said a budget amendment has posted funds for several previously unfunded projects, and proposed project‑number tracking and stronger controls.
Finance Director Franklin told the Stonecrest Finance Committee on March 18 that the city's audit status is 'high risk,' while budget structure is 'moderate' and internal controls and transparency are 'improving.' Franklin presented a four‑criterion 30‑day scorecard and outlined immediate steps to address gaps.
Why it matters: Franklin said earlier approvals for capital projects in the 300 fund were not encumbered at fiscal year end, so funds did not roll forward. That created a shortfall for purchase orders and solicitations; a budget amendment has been posted and procurement notified so projects can move forward.
Franklin described what she called a fragmented project‑tracking system: separate spreadsheets in finance and departments, no consistent project numbers, and no single project manager to coordinate work. "If we have project numbers assigned to each one we can all say project TF000448 with the title," she said, recommending that the city assign numbers to legacy and new projects and track them in Tyler going forward. She also said staff are reviewing BitNet contract features and plan vendor training to improve contract and bid tracking.
On the audit, Franklin said the 2022 audit still needs formal acceptance by council before submission to the state and that auditors are meeting weekly to process requests and set weekly goals. She noted the senior accountant position intended to support audit work is vacant; she has submitted a hiring recommendation but is exploring interim options because of hiring constraints during the current charter transition.
Council members pressed for clearer lines of responsibility. Councilmember Alicia Washington said the city needs a project manager role (or roles) and suggested adding an FTE to ensure projects are driven to completion. Franklin agreed that project management and better linkage between project tracking and the financial system are priorities.
Next steps: Franklin said she will post project numbers for new projects in Tyler and compile a composite list of legacy projects for numbering and monitoring. She will continue weekly work with auditors and follow up with council on the 2022 audit acceptance process.
