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Audit review raises staffing, timing and reporting questions for Franklin City finances
Summary
Councilors questioned a recently released audit about staffing turnover, the timing of capital expenditures that made expenditures exceed revenues, and a roughly $25,000 contractor fee; staff said a late contract and audit parameters delayed work but reconciliations are available.
An external auditor reviewed Franklin City’s recent financial reports and answered council members’ questions about scope, timing and specific funds, highlighting staff turnover and a late contract as reasons for delayed audit work.
The auditor, who said they perform audits under government standards, told the council that report output depends on the parameters set (date ranges and account selections) and that the Comprehensive Annual Financial Report still covers material funds. “I audit the state of Virginia. The audit of public accounts provides a report every dollar that is sent to…
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