NewsPolitics & Government

Forest City Audit Successful

The Forest City Council and Mayor Byron Ruiter heard from Larry Pump, Certified Public Accountant in Charles City regarding their external audit. Overall, the results were very positive.

According to Pump, the city’s receipts totaled $14,028,237 for the fiscal year which ended June 30th. This is a 7.6% increase from the prior fiscal year. Disbursements for the same fiscal year totaled $14,061,972 which is a 1.3$ increase from the prior year. The increase is receipts is due primarily to additional operating and capital grants, contributions, and restricted interest.

The audit did address five minor areas such as bank reconciliations, disbursements exceeding budgeted amounts, and posting of financial transactions. Pump gave the city some recommendations on how to handle this now and in the future. These oversights will be corrected by the city and be more closely monitored by city officials.

The audit is required to be done in order to make sure the internal audit done by the city is correct to the letter of the law.

A copy of the audit report is available for review on the State Auditor website at:

https://auditor.iowa.gov/audit-reports.

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