$6,000+ Missing from City Funds, Audit Says “To Benefit Former Employee”
January 2nd, 2014 by iPhoneAn FOI by MLive for the results of the recent Monticello city audit show $6,325 missing from water and sewer funds, to the benefit of a former employee.
SCHEDULE OF FINDINGS AND RESPONSE
Finding #2012-5
We have determined that there is sufficient evidence to support the conclusion that cash in the approximate amount of $6,325 was misappropriated from the City’s Water and Sewer funds for the personal benefit of the Finance Director. The misappropriation was accomplished by a “lapping” scheme devised by the Director. The Director admitted to the taking of the funds and restitution of $6,230 was deposited into the City the funds subsequent to the discovery.
The audit was performed by Searcy and Associates and dated October 28, 2013.
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