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The City Of Ione Get A New Auditor |
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Friday, 20 April 2007 |
 Ione has a New Police Officer, retired
CHP Officer, John Kellogg was introduced to the Ione City Council Monday and
was sworn in to office by Janice Traverso. The city of Ione has not had
a completed audit since 2003, this is not only bad for bookkeeping it may also
cause the city to potentially lose future monies in the form of loan funding
because of the lack of financial audits on record. The City had been using the same audit firm
for many years and this firm has been continuously missing deadlines to provide
the city with the audit reports.
They have yet to provide
information for fiscal year 2004 and fiscal year 2005. The City has decided to go
in a new direction. It was approved
at the meeting Tuesday meaning that the Mayor will sign a letter authorizing
the engagement of the Accounting Office of Larry Bain as the City of Ione auditor. It’s
a smaller firm, but has the experience necessary for this sort of task.
The
cost of audit ranges from $13,900 to$16,400 per year depending on various grant
activities. The total cost to audit all four fiscal years (2004,2005,2006,2007)
would be in the ballpark of $55,600-$65,600. It is necessary to have a
completed 2004 and 2005 audit before the 2006 or 2007 audit may be started.
There is enough money to budget for this impromptu fee, and is really quite
necessary to rectify the problem at hand. When the audit results are finished
the Council would like to publish the summary to the citizens.
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Last Updated ( Friday, 04 May 2007 )
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