COTTON VALLEY — The Town of Cotton Valley has recurring findings in its annual audit regarding segregation of duties, budgetary control and collection of revenues.

The report for 2015 shows the town did not amend its budget, which resulted in “expenditures and transfers from the sales tax fund exceeding total budgeted expenditures and transfers by five percent or more.”

The town also did not amend the budget for the general fund, which caused the expenses to exceed the budgeted amounts by five percent or more.

According to law, if a government entity spends or receives five percent or more than budgeted, then the entity

OR
OR