April 17, 2021

City of Baxter audit report

Martens & Company, CPA, LLP released an audit report on the City of Baxter.

Martens & Company, CPA, LLP reported that the City’s receipts totaled $1,587,995 for the year ended June 30, 2020, an 11 percent decrease from 2019. Disbursements for the year ended June 30, 2020, $1,442,569 a 12 percent decrease from the prior year.

AUDIT FINDINGS:

Martens & Company, CPA, LLP reported three findings related to the receipt and disbursement of taxpayer funds. They are found on pages 49 through 52 of this report. The findings address issues such as a lack of segregation of duties, preparation of financial statements and incorrect timing of certain postings. Martens & Company, CPA, LLP provided the City with recommendations to address each of the findings.

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 audit report is available for review on the Auditor of State’s website at http:// auditor. iowa. gov/reports/reports.htm.