The report by
A material weakness is one that could result in a misstatement of the city's financial statements.
In the first instance, the audit firm said utility fund receivables and revenues were materially misstated. "Errors were made in the reconciliation process resulting in the inclusion of revenues from one extra month in revenues and other erroneous entries," the report said.
Management agreed with the finding and said procedures will be established to fix the problem.
In the second instance, several purchases made in 2013 were not recorded in the 2013 accounting records.
"Several disbursements were noted for capital assets and other items ordered in 2013, received in 2013, but recorded as 2014 expenditures," the audit said.
Management agreed with the finding and said procedures are in place to prevent the problem but they were not followed.
The audit said
The golf course had expenses of
The city has not imposed a property tax since 1998.
The auditor also noted a "potential impaired asset" -- a well drilled in 2004 for
"The city still operates very efficiently," he said. He said there probably won't be as many projects in 2015 because the city is down to
"We like to keep a cushion," he said.
The city has done a lot of construction, on
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