Ed FitzGerald Begins Campaign for Mayor of Lakewood

[Bill Call]

Are there any copies of Lakewood's Comprehensive Annual Financial Report (CAFR) available to the public?

Are there current copies at the Library?

Steve

Copies are usually available at the library.

You can get a copy on line at the auditors web site.

http://www.auditor.state.oh.us/Public/A ... sults.aspx


The most interesting (so far) items are that the City did not have the proper appropriation authority to expend $7,380,660 under debt services.

And that contrary to the Ohio Revised Code "original appropriations exceeded the original estimated revenue available for expenditures in the Community Development Block Grant Special Revenue Fund in the amount of $402,801"

It was also found that money from one fund was used to cover expenses of another fund resulting in a negative fund balance of $866,982 in the block grant fund. I am not sure what the money was used for.

There were also questions about how municipal court activity should be reported. The correction resulted in a restatement in net asset (669,105)

It looks like the new income tax department is costing more than the RITA expense.

There is more but it is all pretty boring.

[Jim O'Bryan]

Are there any copies of Lakewood's Comprehensive Annual Financial Report (CAFR) available to the public?

Are there current copies at the Library?

Steve

Copies are usually available at the library.

You can get a copy on line at the auditors web site.

http://www.auditor.state.oh.us/Public/A ... sults.aspx


The most interesting (so far) items are that the City did not have the proper appropriation authority to expend $7,380,660 under debt services.

And that contrary to the Ohio Revised Code "original appropriations exceeded the original estimated revenue available for expenditures in the Community Development Block Grant Special Revenue Fund in the amount of $402,801"

It was also found that money from one fund was used to cover expenses of another fund resulting in a negative fund balance of $866,982 in the block grant fund. I am not sure what the money was used for.

There were also questions about how municipal court activity should be reported. The correction resulted in a restatement in net asset (669,105)

It looks like the new income tax department is costing more than the RITA expense.

There is more but it is all pretty boring.

Bill

We are getting into some serious thread drift here. Can you post this elsewhere I have some questions.

Thanks


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