Finding Text
Tax Increment Financing Criteria - Chapter 403.I9 of the Code of Iowa provides a municipality shall certify indebtedness to the County Auditor. Such certification makes it a duty of the County Auditor to provide for the division of property tax to repay the certified indebtedness. Properly designed policies and procedures pertaining to control activities over the County's computer systems and implementation of the policies and procedures help provide reasonable assurance financial information is safeguarded and reliable and helps ensure achievement of objectives in the reliability of financial reporting, effectiveness and efficiency of operations and compliance with appliable laws and regulations. Condition - The County does not have written policies and procedures related to input and review of information into the County's computer systems for the division of property tax to repay tax increment financing certified by County municipalities. Cause - Management has not required written policies for the above information-system controls related to tax increment financing. Effect - Lack of written policies for the information system could result in a loss of data or compromised data, resulting in unreliable financial information. Recommendation - The County should develop written policies addressing the above items in order to improve the County's control over its information system related to tax increment financing. Response - The County will comply in the future with these recommendations. County officials have discussed and agree these policies are needed. Conclusion - Response accepted.