The full audit is attached to this article as a pdf

No questionable spending and none for unauthorized travel, adequate surety bond coverage in place, no noncompliance with revenue bond and note resolutions was found in the annual audit of the City of Toledo. The report was presented to the city council by Chris Nelson, Gronewold, Bell, Kyhnn and Co., Atlantic, representative on Monday night, Jan. 27.

The report showed total spending for governmental activities in fiscal year 2018-19 totaled $2,413,975 and a grand total of $3,523,126 with business type activities including sewer, water, landfill, Reinig-Toledo Civic Center and day care facility charges included.

For program receipts, totals were: charges for service- $324,500, culture and recreation $28,032 and community and economicdevelopment $8,551. A total of $549,007 was shown for program receipts, operating grants, contributions and restricted interest.

In business type activities, spending totaled $1,208,151.

Overall receipts for the business type activities totaled $1,316,859 and spending of $1,208,151.

Findings And

Recommendations

The report noted the customary lack of a segregation of duties for internal contorls by the city. It is recognized the city has limited money to employ enough staff to fully comply but the city response is it will continue to review and monitor ways to improve the segregation of duties.

Other findings and the city responses included: the capital projects area exceeded the budgeted amount and the city will amend the budget if applicable; the city will publish a summary of receipts in the council minutes; the city will adopt a resolution naming official bank depositories/

And, the council will continue to evaluate and document the public purpose served by expenditures involving membership in the Tama County Economic Commission and document the public purpose in the future; report and remit outstanding obligations, trusts and bonds held more than two years to the Treasure of State Office; directed to pay all general obligation debt from the debt service fund.