Story Archives: Ridgecrest finances questioned in report
|Ridgecrest finances questioned in report|
The 2010 financial report for the Town of Ridgecrest shows that $25,399 can not be accounted for.
The report was released by the Legislative Auditor on Monday and prepared by CPA Myles Hopkins with Silas Simmons of Natchez.
In a finding involving reconcilement of accounts receivable, the report says that proprietary fund "accounts receivable per the general ledger were not reconciled to the accounts receivable per the subsidiary ledger during the year. Also deposits recorded in the payment register do not agree with the deposits made to the bank."
Of $136,723 deposited per the payment register, the report says that only $111,324 deposits were made to the bank resulting in an unreconciled difference of $25,399.
Silas Simmons reported that the "accounts in the proprietary fund could not be reconciled to the subsidiary ledger of customer accounts receivable. The effect that this reconciliation might have on other income and expense accounts and funds in these financial statements is material in our opinion.
"As a result of the insufficient documentation...the scope of our work was not sufficient to enable us to express, and we do not express, an opinion on the financial statements."
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