Mayor reacts to LP&L audit report

Reported by: Caitlin Napoleoni
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Updated: 3/29/2013 9:22 pm
Lubbock mayor Glen Robertson says he's pleased with recommendations in the external audit report on LP&L's procurement and purchasing procedures.

Last month the mayor told FOX 34 the city manager wanted that third party review because of several areas of concern that he called red flags.

The outside audit firm's report completed this week does not indicate any material weaknesses or significant deficiencies. It does identify a handful of what the auditor calls deficiencies and makes recommendations for improvement for each of them.

The mayor says the auditor also suggest some broader improvements.

"The procurement policy dates back to 1999, which pre-dates the charter amendment that created the board and set the way we operate LP&L completely different than other departments. So the auditors highly recommended that a new procurement policy be written that takes into consideration the new structure," said Mayor Robertson.

The external auditor's report also noted conflict as to who is responsible for certain duties between the city and LP&L, and recommends a formal service agreement be put into effect for the benefit of both.
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Accounting CM - 4/1/2013 9:54 AM
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Just for clarification as an audit professional, what the mayor is referring to here is strictly in regard to internal controls over financial reporting. Dollar amounts do not matter when testing internal controls. They are an evaluation of the checks and balances in the financial reporting system to see if error or fraud can be detected and prevented. Once the audit is complete, the Financial Statements will be released.

Liberty Seeker - 3/31/2013 1:15 AM
0 Votes
With a multi million dollar operation, what would constitute a significant deficiency. Does at least a million taxpayer dollars have to be missing to be significant?I invite the mayor to release a copy of the report to each media outlet for review and publication. Failure to immediately release such information would mean a cover-up is in progress. As obama said "The only ones who don't want the truth to be revealed, have something to hide".
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