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City finance director: annual fraud-risk assessment places Brigham City in lowest risk category
Summary
Finance Director Jeff Schmidt told council the city scored 375 out of 395 on the state fraud-risk assessment and is in the lowest risk grouping; the largest single shortcoming was the absence of a formalized internal audit process.
Jeff Schmidt presented the annual fraud-risk assessment during the regular session and told the council the city scored 375 out of a possible 395 points using the state's 18‑criterion tool. He said that score places Brigham City in the lowest risk category for fraud exposure.
Schmidt told the council the primary area without full points is a formal internal-audit program. He said several municipalities maintain an internal auditor or contract for audit services and that Brigham City has discussed options but had not yet allocated budget for a standing internal-audit function.
Councilors asked for clarification about how the score is calculated and whether any immediate changes were required; Schmidt said the city is required to report the assessment annually and that staff will continue to evaluate options for strengthening internal-audit capacity.
Ending: The report was received and entered into the public record; council did not take immediate action to create a formal internal-audit role.
