| Hyde
Park gets excellent marks on annual audit By
Angeline Olschewski
October 26, 2007 | HYDE PARK -- City Council members
heard the external audit report for the 2006-2007 fiscal
year, which said they succeeded in increasing the city's
assets and decreasing its liabilities.
The audit, performed by Peterson Allred Jackson, a
local CPA office, found the city to be in complete compliance
with the year's budgets.
There was only one finding that blemished the report.
New audit standards require that adjustments must be
made during an internal audit prior to conducting an
external audit to avoid being noted .
Hyde Park had only one finding, which qualified as
"material weakness," a mark determined by the value
of the material adjusted. Members expressed their frustrations
with the new rules, clearly disappointed in a blemish
that would not have appeared according to the previous
year's standards.
"We're cruising along with a law that works for 99
percent of us," Mayor David Kooyman said, "and that
other percent finds a way to circumvent the law, embezzling,
so the rest of us have to work harder."
In other business:
-- The council set a date for a public hearing regarding
the rezoning of the Cooper property. The first public
hearing will be held at the Planning and Zoning Commission
meeting on Nov. 7.
-- The council recommended revisiting the flag lot ordinance.
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