The City of Lisbon’s financial audit has been completed.
Lisbon city administrator Brandon Siggins said there were two areas the city got dinged on this audit – segregation of dutires and fund deficits.
“Segregation of duties is something we always get dinged on in audts, just because there are too few employees working at the city to segregate out the duties,” Siggins said.
The deficits funds balance ding was because a few funds have been running at deficits. There were three areas noted by the auditor – the sports complex loan, the housing rehabilitation project and sewer debt funds.
Siggins said the sports complex will be paid off in this coming fiscal year, and the housing rehabilitation fund has some reimbursements that have not been sent yet.
“When it comes to the sewer debt fund, we will need to transfer money over from the sewer portion funds to cover the sewer debts,” Siggins said. “We will make that disbursement by the end of this fiscal year to bring both accounts back to zero.”
The audit took roughly a day and a half to complete and Siggins said it was one of the smoothest audits for the city, as staff was really prepared for it.