- Associated Press - Friday, November 13, 2015

BAY ST. LOUIS, Miss. (AP) - An auditor’s report into the city of Bay St. Louis’s finances has found 15 instances of deficiencies or noncompliance with state or federal laws.

The audit, released this week, examined the city’s finances for the fiscal year ending Sept. 30, 2014, as part of the annual state requirement for municipalities, The Sun Herald of Gulfport reports (http://bit.ly/1GZzlwa).

The report categorized four of the findings as “material weaknesses.” Ten of the findings are instances of noncompliance with state or federal laws and regulations, including a U.S. Department of Justice equitable sharing fund that is short of about $300,000.

Among other findings of the report were that the city allowed its wind insurance to lapse for 24 days during hurricane season. The insurance was a supplemental policy to lower the city’s deductible on its general policy. Mayor Les Fillingame says the finance department at the time was considering whether they actually needed the supplemental policy.

When the city finance department presented the fiscal year 2014 budget to the city council for approval on Sept. 12, 2013, it “contained miscalculations and footing errors totaling $621,249.62,” the report noted.

Fillingame said he thinks a lot of people have overlooked the point that the city overall has made a strong recovery from Hurricane Katrina.

“The cash crunch is starting to ease, and I think we’ve taken appropriate actions with the council to make it all happen,” Fillingame said. “By and large, the recovery has been very successful in my opinion.”

___

Information from: The Sun Herald, http://www.sunherald.com

LOAD COMMENTS ()

 

Click to Read More

Click to Hide