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August 13, 2013The accounting firm that conducted an independent audit of the City of Morgan City has given its recommendations to Mayor Frank “Boo” Grizzaffi.
Kolder, Champagne, Slaven & Company LLC created a 139-page report detailing the finances of the St. Mary Parish city.
After working on the report, the entity gave its formal list of recommendations to the city – a list that includes code of ethics, material financial statement adjustments, force account equipment rates and documentation.
Regarding material financial statement adjustments, the certified accounts said that they “recommend the City design and implement policies and procedures or follow implemented policies and procedures which provide assurance to the fair presentation of the financial statements.”
This was due because during audit procedures, the firm found “audit procedures, audit adjustments were proposed to correct misstatements that, individually and in the aggregate, were material to the City’s financial statements.”
Regarding code of ethics, Kolder, Champagne, Slaven & Company, LLC said its recommendation was “that the City consult with legal counsel and the Louisiana Ethics Administration to determine whether a violation of the ethics standards may have occurred. We further recommend the City communicate to its employees the statutory requirement and prohibitions of the ethics statues and the expected compliance with such statutes.”
This recommendation was after the audit found that the city may have utilized a subcontractor in which the city employee had a substantial economic interest.
In the documentation portion, the auditor found that Morgan City “failed to provide support that certain hours recorded on the force account equipment record were disaster-related.”
To remedy this, Kolder, Champagne, Slaven & Company recommended “the City implement policies and procedures to ensure that support is maintained for all force equipment utilized during disasters.
To view the entire audit report, visit www.tri-parishtimes.com.
