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Roanoke hears audit report

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ROANOKE - The past fiscal year was a step toward the way financial conditions were before the sudden onset of COVID-19, auditor Sandy Cook of the Peoria firm of Clifton Larson Allen told the village board at Monday evening's meeting.

In her report detailing the annual audit, Cook indicated revenue streams that were expected, including tax revenue, increased during the fiscal year. Expenses were also up, part of which were due to a capital outlay to purchase the building that now houses village hall and the Secretary of State’s Office. Water revenue and expenses have remained about the same over the past four years.

An ongoing accounting weakness reported is a lack of segregation of duties due to limited personnel resources, a common factor in small government. Cook noted that could cause higher risk for mistakes. She told board members they should be vigilant in reviewing finances to help offset the problem.

“You are the last set of eyes to catch errors,” Cook said.

See full article on Nov. 18 Woodford County Journal newsstands

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