Tama County Administration Building, 104 W State St., Toledo, Iowa. -- File photo

TOLEDO – On Dec. 13, Bowman and Miller, P.C. released Tama County’s annual audit of financial statements as of and for the year ended June 30, 2024. Financial highlights from the report include:

-The County’s revenue totaled $25,804,910 for the year ended June 30, 2024 – a 9.9% increase from the prior year.

-Expenses for County operations for the year ended June 30, 2024 totaled $23,036,427 – a less than 19 increase from the prior year. The significant increase in revenue is primarily due to the contribution of assets donated by the low Department of Transportation.

Audit Findings

Bowman and Miller, P.C. reported five findings related to receipt and expenditure of taxpayer

funds. They are found on pages 88 through 93 of the report. The findings address issues such as lack of segregation of duties, timely payroll tax deposits (resulting in a penalty of $10,187 plus $322 in interest), questionable expenditures (totaling $1,379), and disbursements exceeding the amounts appropriated. Bowman and Miller, P.C. provided the County with recommendations to address each of these findings.

Three of the findings discussed above are repeated from the prior year. The County Board of

Supervisors have a fiduciary responsibility to provide oversight of the County’s operations and

financial transactions. Oversight is typically defined as the “watchful and responsible care”

governing body exercises in its fiduciary capacity.

A copy of the audit report is available for review on the Auditor of State’s website: https://www.auditor.iowa.gov/reports/audit-reports/tama-county74bf724b4766b.