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Iatan, MO (2009-05-18) The state audit is complete for the small Northwest Missouri community known for power plants.
An investigation into the finances of the Village of Iatan (eye-uh-tin) finds there's not enough oversight by the Billage board over the work performed by the treasurer.
Auditors found two trustees were involved in the appointment of their relatives as the Iatan Clerk and the Village Trustee…. And those appointing them haven't resigned as state law requires.
Investigators also discovered 8 hundred dollars missing after a purchase in 2007 that has never been recovered… and the Village paid a hundred dollars to former Trustee Coffey for a shed that has never been received.
Auditors say there also needs to be more segregation of accounting duties and records of the various accounts need to be maintained better.
They also noted some minutes of board meetings don't contain sufficient detail as required by state law.
The Village has also failed to report annual financial reports to the state since 2004.
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