Auditor of State Mary Mosiman today released an examination report on the City of Dike, Iowa for the period July 1, 2012 through June 30, 2013. The examination was performed pursuant to Chapter 11.6 of the Code of Iowa.
Mosiman recommended the City review its control procedures to obtain the maximum internal control possible. The City should establish procedures to ensure bank and utility reconciliations are completed monthly and are independently reviewed and the annual financial report is generated accurately. The City should take immediate steps to reduce and eventually eliminate the June 30, 2013 deficit balances of $690,890 and $278,093 in the General Fund and the Special Revenue, Road Use Tax Fund, respectively.
A copy of the examination report is available for review in the City Clerk's Office, in the Office of Auditor of State and on the Auditor of State's web site at auditor.iowa.gov/reports/1321-0355-BL0F.pdf.