Finding 596900 (2022-002)

Significant Deficiency
Requirement
ABGHJLN
Questioned Costs
-
Year
2022
Accepted
2023-06-28
Audit: 20944
Organization: Buena Vista County (IA)

AI Summary

  • Core Issue: The County lacks written policies for managing information related to tax increment financing.
  • Impacted Requirements: This absence could lead to unreliable financial data and non-compliance with legal obligations.
  • Recommended Follow-Up: The County should create and implement written policies to enhance control over its information systems.

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.

Categories

Reporting

Other Findings in this Audit

  • 20457 2022-001
    Material Weakness
  • 20458 2022-002
    Significant Deficiency
  • 596899 2022-001
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
14.272 National Resilient Disaster Recovery Competition $1.12M
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $650,822
21.019 Coronavirus Relief Fund $516,563
93.268 Immunization Cooperative Agreements $87,815
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $50,663
93.778 Medical Assistance Program $14,326
10.561 State Administrative Matching Grants for the Supplemental Nutrition Assistance Program $12,144
90.404 2018 Hava Election Security Grants $10,000
93.898 Cancer Prevention and Control Programs for State, Territorial and Tribal Organizations $3,850
93.667 Social Services Block Grant $3,308
93.658 Foster Care_title IV-E $3,241
93.596 Child Care Mandatory and Matching Funds of the Child Care and Development Fund $3,170
93.659 Adoption Assistance $1,771
93.472 Title IV-E Prevention and Family Services and Programs (a) $434
93.767 Children's Health Insurance Program $251
93.566 Refugee and Entrant Assistance_state Administered Programs $14