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OFFICE OF AUDITOR OF STATE STATE OF IOWA - page 35 / 39

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Villisca Municipal Power Plant

Schedule of Findings

Year ended December 31, 2003

According to the opinion, it is possible for certain disbursements to meet the test of serving a public purpose under certain circumstances, although such items will certainly be

subject to a deserved close scrutiny. improper purpose is very thin.

The line to be drawn between a proper and an

Recommendation – The Board should determine and document the public purpose and

propriety of these disbursements or, if appropriate, practice is continued, the Board should establish including the requirement for proper documentation.

request written

reimbursement.

If this

policies

and

procedures,

Response – We will review the policy and clarify that there will not be any expenditures made that would not meet the requirements of public purpose. We will also acquire a copy of a nearby County’s policy on travel and training, to use as a guideline.

Conclusion – Response accepted.

(4) Travel Expense – No disbursements of Power Plant money for travel expenses of spouses of Power Plant officials or employees were noted.

(5)

Business Transactions – No business transactions between the Power Plant and Power Plant officials or employees were noted.

(6)

Bond Coverage – Surety bond coverage of Power Plant officials and employees is in

reviewed

be

should

accordance annually to

The amount of coverage for current operations.

with statutory

provisions.

ensure coverage

is adequate

(7)

Board Minutes – Except as noted, no transactions were noted that we believe should have been approved in the Board minutes but were not.

The Board went into closed session on August 12, 2003. The vote of the Board members present at the meeting was not documented as required by Chapter 21 of the Code of Iowa and the meeting was not closed in accordance with Chapter 21 of the Code of Iowa.

The publication of the Board minutes for the meeting held July 10, 2003 did not contain a listing of the approved bills and the minutes for the joint meeting held October 21, 2003 with the City were not in the minutes book.

The Board minutes for the December 19, 2002 meeting did not document a public meeting

was held, bids were accepting the bid for whether the lowest bid

received, the vote of the the construction project. was accepted.

members approving the project and The minutes also did not document

Recommendation – The Power Plant should comply with Chapter 21 of the Code of Iowa and the minutes should reflect the actions of the Board.

Response – All minutes will be published and any closed sessions will be done in accordance with Chapter 21 of the Code of Iowa.

Conclusion – Response acknowledged. The minutes should also reflect the actions of the Board.

34

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