Tuesday, January 24, 2012

Audit finds 'deficiency' in Trustee's Office

As expected, Knox County’s external auditor KPMG identified a “significant deficiency” in the financial reporting of the Trustee’s Office.

It’s not the end of the world, but it just doesn’t look good. Of course, if you ask the good folks in the tax collector’s office, they’ll tell you it was no big deal and that it was all the computer’s fault.

Dog ate my homework. That kind of stuff.

Click right smack here for KPMG's management letter, which talks about the issue and read what Trustee John Duncan III’s office had to say about it.

As I said, KPMG said this would probably happen. You might recall that back in October I wrote about a $6 million mistake that the auditors discovered in the some of the numbers the office provided them.

(Oddly enough, the good Trustee folks didn’t really seem to care all that much about the screw up when I asked them about it – they were more interested in who provided me the information. Strange. But I digress.)

Anyhoo, there was some back and forth and kicking and screaming, but they finally got the math right. In between that time, however, some stories changed.


That sounds familiar.


Brian Paone said...

Do you ever get bored/nauseous covering this stuff?

Mike Donila said...

Yeah. But never underestimate the medicinal qualities of beer.

Brian Paone said...

You're in Tennessee now - if someone hasn't introduced you to Dr. Jack Daniels by now, they should.