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Duncan council flags general fund shortfalls as audit review looms
Summary
Council members accepted consent agenda materials that revealed short-term general fund shortfalls tied to audit and accounting bills; staff said the amounts are budgeted and should reconcile in coming months and that a fuller audit presentation may appear next month.
The Duncan Common Council accepted the consent agenda on Aug. 15, 2024, after staff outlined short-term financial pressures in the town’s general fund. Mayor Blake moved to approve the consent agenda; Council Member Wearne seconded and the motion passed unanimously.
Town Manager reported that the general fund is showing shortfalls tied to about $40,000 for the auditor and roughly $22,500 for accounting work, and said both costs were budgeted. Staff said they expect those transactions to be posted and reconciled over the next month or two and that the formal audit may be presented next month.
The council did not take any additional fiscal action at the meeting. The council set an item for next month to review the audit schedule for 2022 and other outstanding audit matters, signaling continued oversight of reconciliation and reporting timelines.
