News : City of Atkins Audit

Auditor of State Rob Sand today released a report on the City of Atkins for the year ended June 30, 2024.  

FINANCIAL HIGHLIGHTS:

The City's receipts totaled $4,562,176 for the year ended June 30, 2024, an 8.0% increase over the prior year. The increase in receipts is primarily due to an insurance payment for a damaged fire truck and an increase in the rates charged for water and sewer utilities. Disbursements for the year ended June 30, 2024 totaled $4,158,914, a 31.3% increase over the prior year. The significant increase from the prior year disbursements is due primarily to water tower and fire truck repairs being completed in fiscal year 2024 as well as a new community development block grant project.

AUDIT FINDINGS:

Sand reported eighteen findings related to the receipt and disbursement of taxpayer funds. They are found on pages 50 through 60 of this report. The findings address issues such as the lack of segregation of duties, the lack of bank and utility reconciliations, disbursements exceeding budgeted amounts in three functions prior to amendment, a deficit balance in the Enterprise, Water Fund and errors in tax increment financing. Fifteen of the findings discussed above are repeated from the prior year. The City Council has a fiduciary responsibility to provide oversight of the City's operations and financial transactions. Oversight is typically defined as the "watchful and responsible care" a governing body exercises in its fiduciary capacity.