DES MOINES – Iowa Auditor Rob Sand released a report detailing issues with the city of Nora Springs’ handling of operations and financial transactions.
Auditor of State Rob Sand released an agreed-upon procedures report on the City of Nora Springs, Iowa, for the period July 1, 2020 through June 30, 2021. The agreed-upon procedures engagement was performed pursuant to Chapter 11.6 of the Code of Iowa.
Sand reported six findings related to the receipt and disbursement of taxpayer funds. They are found on pages 9 and 10 of this report. The findings address issues such as a lack of segregation of duties, the lack of utility reconciliations, disbursements exceeding budgeted amounts, the improper use of tax increment financing funds and incorrect amounts reported in the annual urban renewal report. Sand provided the City with recommendations to address each of the findings.
Two of the six findings discussed in the report 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.
A copy of the agreed-upon procedures report is available for review on the Auditor of State’s website, here.