Richwood Finances “Un-Auditable”

In a just-released financial report on the Town of Richwood, Baton Rouge CPA Melvin Davis revealed numerous findings and problems for the fiscal year ended June 30, 2013, and “disclaimed” an opinion on the town’s finances.

Wrote Davis:

The Town could not provide sufficient competent evidence to determine the accuracy and completeness of the Town’s financial statements for the year ended June 30, 2013.

and,

The Town’s ongoing revenue shortfalls and inability to meet its financial obligations raise substantial doubt about the Town’s ability to continue as a going concern.

See here the complete report.

Among the findings:

Overall lack of financial management
Failure to record transactions
No financial statements
Lack of payroll administration
Potential ethics violations

Richwood has been under the direction of a Fiscal Administrator, Lafayette CPA Jonald Walker, who took over AFTER the period covered in the report.

Reportedly, Walker is making progress with the town’s finances.

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3 Responses to “Richwood Finances “Un-Auditable””

  1. skipT Says:

    IS THIS A BIG SURPRISE, Mayo’s budget was only a little better

  2. Dan Burson Says:

    JUST MORE NORTH LOUISIANA INCOMPETENCE LOL.

    Date: Wed, 22 Apr 2015 07:44:11 +0000 To: dannymb52@hotmail.com

  3. Oldman Says:

    Richwood,Jonesboro,Gibsland,Monroe and a few others that I can’t recall right now all have one thing in common,sorry people getting elected. Jonesboro has a very good mayor now and a council that’s trying to make this a good place to live. With the right people these towns and villages will finally get straighten out and make a go of it. I hope this is a lesson to everybody that’s running for office.
    Oldman

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