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Audit finds bookkeeping errors; auditors say city records showed a July negative $30,000 balance
Summary
An external audit presented to the Krebs City Council flagged inaccurate bank reconciliations and records, noting that as of July the city's accounting reflected a negative $30,000 and recommending stricter oversight.
Sara Jackson of the Office of Ralph Osborn CPA presented the city's fiscal-year audit and told the council that reconciliations and some account entries were not being prepared accurately. She said discrepancies dated back multiple years and that, "we are not accurately able to access what monies we have because as of July it was a negative $30,000."
Jackson recommended stricter oversight of bookkeeping and reconciliations. Council members did not debate a corrective plan during the meeting; the audit presentation establishes a basis for the council and staff to discuss policy or staffing changes during upcoming budget work sessions.
