Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Local Finance topic
No spam. Unsubscribe anytime.
Committee briefed on $35,000 bounced check and $250k–$300k retro pay liability
Summary
Finance staff reported a $35,000 bounced check partially paid and aging for collection, duplicate payments discovered in the register, and an upcoming union retroactive pay obligation estimated at $250,000–$300,000 to be paid over upcoming months.
The committee reviewed the check register and financial controls. Kevin Powell said a resident’s $35,000 check had bounced; a partial payment was received and the remainder is in the aging bucket for collection.
Staff identified duplicate payments in the check register (examples cited include union dues and cell phone stipends); corrective measures are underway. Powell explained that cell phone stipends exist for on-call staff and that he has deferred taking his contractual stipend for financial reasons.
Powell also told the group that an upcoming union retroactive pay obligation is estimated at $250,000–$300,000 and will be paid over the next several months, a liability that will affect the budget. Despite these irregularities, Powell said operating results on a modified cash basis are positive.
