Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Fraud Risk And Audit topic
No spam. Unsubscribe anytime.
Millcreek reports improved fraud risk score, plans to strengthen internal audit
Summary
City Finance Director Lisa Dudley told the council the Fraud Risk Assessment score rose from 300/395 (FY2023) to 375/395 due to policy changes, ethics training, a fraud hotline, and Audit Committee revisions; staff recommended formal internal audit planning and stronger IT/cybersecurity controls.
Lisa Dudley presented the city's annual Fraud Risk Assessment, noting it is required by the Utah State Auditor's Office and serves as a self-evaluation of internal controls, separation of duties, oversight, ethics policies, and fraud prevention.
Dudley reported the city's score improved from 300 out of 395 in fiscal year 2023 to 375 out of 395, reflecting implementation of recommendations such as revisions to the conflict-of-interest policy, adoption of an ethical behavior policy, annual employee ethics acknowledgments, required ethics training for elected officials, and establishment of a fraud reporting hotline. She said future work will focus on enhancing the Audit Committee's internal-audit role, developing a formal internal audit plan, ensuring consistent policy implementation, and strengthening information technology and cybersecurity policies.
Mayor Cheri Jackson commended staff for the improvement and emphasized stewardship of taxpayer funds, saying effective policies and oversight are "essential safeguards that help protect public resources and ensure the city's financial integrity." Dudley noted recent Audit Committee guideline revisions will designate the City Treasurer as a committee member and require quarterly meetings with agendas, minutes, and reports to council.
