Filak CPA Group was hired by the Oxford Village Council last week to provide the municipality with compliance audit services for an amount not to exceed $1,100.
Basically, the Oxford-based firm will be determining if the village has put proper internal controls in place to correct three weaknesses found in the audit completed in January by Lewis & Knopf, CPAs.
That audit determined the village’s bank reconciliations were not performed in a timely manner; it’s cash receipt postings were not recorded in a timely manner; and its interfund transactions were not reconciled and journal entries not recorded in a timely manner.
Filak was the lowest of four bidders for the job.
Councilwoman Maureen Helmuth noted she would like to see, on a monthly basis, some type of sheet that shows the accounts are balanced. ? CJC