Auditor cites Atlantic Beach

A lack of timely reconciliation of bank accounts left the city of Atlantic Beach with an unreconciled difference of $105,000 at the end of the last fiscal year, according to auditors.
In a report to the city commission Dec. 9, auditors Purvis, Gray and Company said the city will need to continue to investigate the “significant variance” and determine the source of the difference.
Asked by the commission whether the shortfall could be the result of a deliberate act of wrongdoing, auditors said it was “possible” but there is no reason to believe that is the cause.
They noted there was also a $10,000 unreconciled difference from fiscal year ending 2017.
The auditor has recommended the city implement procedures to ensure all bank accounts are reconciled within 20 days of month-end.
It was also noted that the city continues to have significant and material errors and adjustments related to their financial reporting and close process, which “significantly delayed the completion of the fiscal year 2018 audit resulting in the city not meeting the nine-month deadline of submission to the auditor general.”
It was recommended the city hire an outside consultant to assist with the closing of the books prior to the start of the audit.
This has now been done, the auditor said, and the city has hired a new finance director.
City Commissioner Candace Kelly suggested the city have a checklist to make sure required accounting tasks are done and then make that information available to commissioners for oversight.