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10-01-2016 LSU Pregame

Report finds accounting problems in East St. Louis

Local

Report finds accounting problems in East St. Louis

EAST ST. LOUIS, Ill. (AP) – An accounting firm that studied East St. Louis found a host of problems in the first year since the state stopped overseeing the way the community spends and collects money. The Belleville News-Democrat (http://bit.ly/1Ig2FcA ) reports that the review revealed that East St. Louis didn’t keep proper records, follow […]

Report finds accounting problems in East St. Louis

EAST ST. LOUIS, Ill. (AP) – An accounting firm that studied East St. Louis found a host of problems in the first year since the state stopped overseeing the way the community spends and collects money.

The Belleville News-Democrat (http://bit.ly/1Ig2FcA ) reports that the review revealed that East St. Louis didn’t keep proper records, follow mandatory banking safeguards or fully collect taxes owed by businesses in the year after the December 2013 end of state oversight.

The paper reported that it obtained the report that has not yet been submitted to the City Council.
The review by the St. Louis accounting firm of Brown, Smith & Wallace was designed in large part to find problems with accounting practices of the city’s finance department and treasurer’s office and not to determine if any money is missing.

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