Friday, July 10, 2015

This is SOP in too many of our cities and counties-----Audit finds massive financial mismanagement in West Covina

Audit finds massive financial mismanagement in West Covina - LA Times:
"A scathing state audit of West Covina's finances found massive bookkeeping errors and questionable spending of taxpayer money.
Auditors, in a report released Thursday, found the city lost potentially millions of dollars and allowed questionable spending on city credit cards.
Among the findings, the controller said that the city lost $1.04 million by not following the law during a sale of city land to a developer who planned to build condos on the parcel.
The city also failed to comply with rules requiring it receive written proposals and accept the lowest responsible bid for contracts over $30,000, auditors said.
"City officials made numerous questionable decisions by not following the contract process and approving contracts without detailed review and analysis of reasonableness," according to the audit. "We identified numerous contracts and transactions that raised questions about the reasonableness and proper use of public funds.""

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