Southaven aldermen want frequent audits of city finances - WMC Action News 5 - Memphis, Tennessee

Southaven aldermen want frequent audits of city finances

(WMC-TV) - Southaven has a new policy in place to help the Board of Aldermen keep a closer watch over the city's spending.

"We feel it's going to help us during budgeting time," said Southaven Alderman Lorine Cady.  "For one, it will help the employees and department heads know where they are in the budget year and help us plan ahead for next year's budget."

Cady said they have decided to review the city's finances every two weeks.  The city's accountant will examine every department.

"She will make a presentation to us on what she's found throughout that two-week period and bring us up to date on the things we need to know about the budget and spending," said Cady.

With Southaven Mayor Greg Davis under investigation for spending taxpayer money, aldermen have faced a financial battle over the last few months.  Davis has been ordered to pay back $170,000 he spent in taxpayer money over the past few years.

"I'll be the first to admit that we should have kept a better track of the money that was being spent and the way it was being presented to the city clerk and how it was going on the budget," said Cady.

To gain better control, the city's accountant will start performing mini-audits of every department.  They city already performs a yearly audit.

"The budget is a plan for the year, but as you know, it's revised several times throughout the year as money comes in or if we move money around," said Cady.  "So I think it'll be an advantage to us in many ways."

Cady said the findings will be presented at every board meeting and this should not cost the city any extra money.

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