A recently completed audit of the City of Glidden’s Fiscal Year (FY) 2024 finances found no major deviations but highlighted several areas where improvements are needed. The report noted concerns about segregation of duties, as a single employee currently oversees most transactions, including cash handling, receipt distribution, and reconciliations. Auditors recommended that city officials review procedures and, when possible, use elected officials to provide oversight. The review also found one month where utility billing reconciliations lacked documentation. Officials recommended the city council or a designated reviewer regularly examine reconciliations and monitor delinquent accounts. Additionally, the city incorrectly classified $24,919 in business property tax replacement revenue and failed to remit unclaimed property, such as outstanding checks, to the state treasurer’s office as required. Generally, these instances of noncompliance are considered minor, but auditors encourage Glidden officials to adopt new procedures to ensure accurate financial reporting in the future. A link to the City of Glidden’s FY24 audit from the Iowa State Auditor’s Office is included with this story on our website.
______