UPDATE: Cordell audit pegged at $20K

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Published on Tuesday, 21 February 2012 12:55

A letter to Cordell's mayor from the state auditor has priced a thorough examination of the city significantly lower than expected.

A forensic audit of six topics would cost Cordell $20,000, State Auditor and Inspector Gary Jones said. The cost is an estimate based on a study of more than four years of gas card usage, FEMA grants, financial information, utility records, the Cordell Theater Account and the disposition of outdated equipment.

Previous estimates by Jones suggested the city could be on the hook for up to $70,000 for an audit. However, Jones said that by working in cooperation with the city's chief financial officer and independent officer, the cost could be diminished.

The estimated maximum cost of $20,000 is based on "our expectation of timely access to relevant documents and individuals, and represents about half the cost usually associated with this type of audit in a similar size scope."

If the Cordell City Council decides to invite the state auditor to conduct the audit, which they will likely do, the council can say what they want audited. However, Jones' investigators can look into virtually anything.

The council is scheduled to meet tonight, where Cordell Mayor Alex Damon expects the group to ask for an audit.

"I think everybody's on board to get it done and behind us," he said.

The furor that led to Jones' interest in Cordell came from the recent resignations of three of the city's top officials for manipulating their utility billing service.