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City of Riverside Asks For Full Financial Audit

RIVERSIDE, IA (CBS 2/FOX 28) -- Years of improper use of funding has been the talk of the town in Riverside.

It's pretty depressing because it's a small community, said resident Laura Reimers.

If somebody needs to be put in jail or sentenced for that, then so be it, resident Carmen Musser added.

Now the city council wants to dig even deeper. So a full financial audit the council voted for Monday night will take an even closer look.

From revenues to expenditures to payroll to vacation accruals, to holidays, said city administrator Russell Rogerson.

The initial investigation, released back in December, identified more than $64,000 dollars of improper transactions between 2006 and 2012.

That includes $26,000 in unauthorized payments into staff flexible spending accounts, and $24,000 in improper sick leave payouts - but that's not all.

They noted that there were a couple hundred thousand dollars worth of invoices paid without council approval, Rogerson said.

Rogerson says they're working to fix the issues - everything from eliminating petty cash, to requiring two signatures on checks.

City Leaders say as things grow, change and move in the city, it requires them to be more vigilant than ever before.

It was a sleepy little bedroom community of Iowa City, but it's experiencing growing pains now. Rogerson said.

For the people born and raised in this small community, they are pains they hope will soon subside.

I think they'll get to the bottom of it, and get it straightened out, there should be something done about it so it never happens again, Reimers said.

Rogerson says these findings of mismanagement in the past are not expected to have any effect on current tax payers. The full financial audit is expected to be conducted later this month.
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