Local News

Audit of Town Fiscal Policy Shows Room For Improvement

August 24, 2019

 An independent audit suggests Tusayan Town Hall should make some changes in the way it manages taxpayer dollars. A recently completed audit found, “Auditing standards indicate that the identification by the auditor of misstatements in the financial statements may be a significant deficiency in the Town's internal controls.”

The audit also found the small size of the town staff creates some challenges such as the “The same individual who recorded cash receipts and cash disbursements in the accounting system also, prepared cash disbursements and prepared bank reconciliations.”

The audit also found that the town’s policy and procedures manual needs to be updated, “We recommend that the Town continue to develop and implement a Policies and? Procedures Manual that addresses such items as: budgetary procedures, purchase orders, capital asset management procedures, personnel duties and responsibilities, records retention, EEOC, Drug Free Workplace, related party, conflict of interest, chart of organization, compensation and fringe benefits and vacation and holiday compensation.”

The audit was prepared by an outside accounting firm, Hinton Burdick.

Here is a link to the summary.