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Audit finds $1.12 million loan to New Berlin Internet fund; auditor urges stronger controls
Summary
An annual audit presented to the New Berlin board reported the Internet fund was loaned $1,122,000 from other village funds and recommended steps to strengthen internal processes and ensure reimbursement.
Cindy Foote, CPA of Zumbahlen & Eyth, presented the Village of New Berlin’s annual audit and told trustees that "The Internet fund has been loaned $1, 122, 000 from other Village funds," funds the report said are still awaiting reimbursement.
Foote said the audit identified "several fiscal concerns" and offered recommendations to strengthen internal controls. The board briefly discussed the findings during the finance report; no formal remedial motion was recorded at the meeting. The audit presentation followed routine department reports and the board’s approval of the consent agenda.
