La Feria Releases Audit Summary of Missing Public Funds
LA FERIA – There's new details about money unaccounted for in the city of La Feria.
City officials said a new audit completed last month provides a reasonable, but not absolute level of accountability for the funds that couldn’t previously be accounted for.
The audit identified at least three major areas of concern for fiscal year 2016.
One being the city exceeded its budgeted appropriations for the last three budget years. It also showed certain reserve funds were depleted.
Certain restricted funds, obtained as debt and dedicated for specific capital improvement projects, were improperly transferred and improperly used for other expenditures.
The city sent out a press release that be read here or read it below. It states more details about the audit.
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