State auditor: Former Spring Lake employee used $430,000 from town for personal use
The Office of the State Auditor on Thursday announced an investigation into the Town of Spring Lake's finances.
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Key findings in the investigation announced Thursday include:
- The town's former accounting technician used at least $430,112 of town funds for personal use.
- There was at least $36,400 in cash missing from the revenue department and the recreation department's daily deposits.
- Town employees spent $102,877 of town funds on questionable credit card purchases.
- The town overpaid the former economic development director by $9,900.
"The findings in the report demand that those be severly punished for wrongdoings and that the board put in place measures designed to prevent its re-occurence," said Spring Lake Mayor Kia Anthony. "The board expects everyone involved in misappropriating the town's resources will be prosecuted to the fullest extent of the law."
Wood has recommended the report be sent to the State Bureau of Investigation and the Federal Bureau of Investigation to see if there's enough evidence to file criminal charges.
While no charges have been filed so far, Anthony has appointed an audit committee to better keep track of the town's finances.
"One of the objectives of the audit committee will be to ensure that high quality financial statements be timely, prepared and reviewed in accordance with applicable accounting principles," said Anthony.
"To know that money is being, I guess misappropriated, it's disturbing because you know the community here, folks work very hard. Businesses pay a lot of taxes to the town," said Jim Hinnan, who owns Thai-Esan Restaurant in Spring Lake.
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