(Emmetsburg)– The State Auditor’s Office has issued a report into Palo Alto county’s finances.
It shows the county’s revenues totaled slightly more than $20 million for the year ended June 30th, 2022, a 14.9 percent decrease from the prior year. Expenses for operations totaled $17.1 million, a decrease of 9.5 percent from the year before. The report says the significant decrease in revenues is due to a drop in contributions from the Iowa Department of Transportation for road infrastructure, a decrease in drainage district assessments and a decreases in revenue from the Federal Emergency Management Agency.
The report lists several findings, including a lack of segregation of duties, material amounts of receivables, payables and capital assets not properly recorded in the county’s financial statements, donations to private non-profit entities and a deficit balance in the Special Revenue Drainage District Fund.
