Payson's auditor found cash accounts missing from a required deposit report
The fiscal 2025 state compliance audit found that not all of Payson's cash accounts were reported on the deposit and investment report state law requires the treasurer to file. The city says it corrected the problem before the audit was issued.
Continuing story: Auditing Payson
Payson's auditor, Larson & Company, reported one state compliance finding for fiscal 2025: not all of the city's cash accounts were reported on its deposit and investment report. [1]
The finding cites Utah Code 51-7-15(3), which requires a public treasurer to file a written report on deposits and investments with "the council" on or before Jan. 31 and July 31 each year. It gives the cause as "Oversight on management and staff" and recommends that management review the report "to ensure all cash accounts are correctly accounted for." [1]
The city's response says: "The issue was corrected prior to the issuance of the audit report." The auditor's report says the city's response was not subjected to the audit procedures and that it expresses no opinion on the response. [1]
The rest of the compliance audit
The auditor tested 12 state compliance areas, including budgetary compliance, fund balance, cash management, impact fees and enterprise fund transfers, and said Payson "complied, in all material respects" with them. Its opinion on compliance was not modified by the finding. [1]
The auditor said it did not identify any deficiencies in internal control over compliance that it considered material weaknesses, and listed no findings from the prior year. [1]
The finding concerns what was reported, not the cash itself. The records reviewed do not include the original or corrected reports.
Sources
Reporting by The Utah Ledger from the public records above. AI-assisted, checked against those records.