MONTICELLO – An independent forensic audit of the Village of Monticello’s books for the period of January 1, 2019 through January 5, 2023 has found a number of issues including that the village has not had an “unqualified audit opinion” in the last six years – since July 31, 2018.
This review was conducted by PKF O’Connor Davies Accountants.
Recently elected Mayor Rochelle Massey, who previously was a village trustee, is particularly concerned with the audit’s finding that there were no bank reconciliations prepared for the period reviewed.
“The bank reconciliation never did it – how do you balance your books; how do you know where your money is if you don’t balance your books. You have to balance your books,” she said. “There were bank statements that we’re even opened; the past treasurer didn’t open.”
The audit also found that there was a discrepancy of almost $467,000 in the general ledger postings that should be investigated.
The audit also found that during the review period the village had not paid some $4.3 million in health insurance premiums to the state representing some 24 months of invoices.
It also found the village is not using common purchasing practices of a purchase order system.
The report said certain employees were awarded holiday bonuses in December 2022 that were not included on their W-2 tax forms and concluded that “holiday bouses are an unauthorized expenditure of the village” and said, “this practice should be terminated.”
The review of the village’s financial practices is not over. The new village board wants to continue the deep dive into the bookkeeping practices.
