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Smithfield books unauditable

April 17, 2012
By MARK LAW - Staff writer ( , The Herald-Star

SMITHFIELD - The state auditor's office has again determined the village's financial books can't be audited because of inadequate records.

State Auditor David Yost said Monday the village has been place on the unauditable list.

During the course of the regular financial audit of Smithfield for the period Jan. 1, 2009, through Dec. 31, 2010, the state auditor's office determined the condition of the village's financial records were not adequate to complete the audit. In a letter to the village, the state auditor's office provided a list of records required to complete the audit. The village has 90 days to revise its financial records and provide the necessary data to the state auditor's office.

"Poor records lead to poor service for taxpayers," Yost said. "Auditable records must be provided to complete the audit and ensure accountability to the citizens of Smithfield."

Yost said failure to bring the village's financial records to an auditable condition may result in legal action, including the the attorney general issuing a subpoena to the fiscal officer and mayor to explain the condition of records. The attorney general also may file a lawsuit to compel the fiscal officer and mayor to prepare and produce the required information, he said.

Smithfield Mayor Ted Boyd, who only took office earlier this year, couldn't be reached for comment.

The state auditor's office in December issued findings for recovery against current and former village officials in the amount of $60,346 during an audit of village books for the years 2008 and 2009.

The state auditor's office in July 2010 announced it couldn't complete an audit of those years because the village's financial records were missing, incomplete or inaccurate.

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