Determine if the Clerk-Treasurer accurately and completely accounted for, recorded and reported all financial transactions in a timely manner.
- The former Clerk-Treasurer did not maintain accounting records using the modified accrual basis of accounting.
- Accounting records were not adequate to properly monitor the Village’s financial condition and operations.
- The former and current Clerk-Treasurer did not provide monthly financial reports of receipts and disbursements to the Board.
The Clerk-Treasurer should:
- Maintain accurate and timely accounting records including revenues and expenditures using the modified accrual basis of accounting.
- Provide monthly financial reports to the Board.
Village officials generally agreed with our recommendations and indicated they planned to initiate corrective action.