City closes checking accounts, finds $300K
by Associated Press
Published: October 26,2011
WAVELAND — The City of Waveland has closed 23 dormant checking accounts, two of which contained $300,000 donated to the city after Hurricane Katrina.
City comptroller Janey Dudding tells the Sea Coast Echo the accounts were uncovered during a recent internal audit.
Mayor David Garcia says one of the accounts was set up for donated funds, which were supposed to help with payroll and other city functions. Garcia says the balance in the account was more than $110,000 and there was a transfer from the account into an investment account a few years ago.
Dudding says the investment account had a balance of about $200,000.
Garcia says the city will now operate with only four bank accounts.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “City closes checking accounts, finds $300K”
Top Posts & Pages
- Palmertree blocked from using public funds for legal defense
- Two companies fined for violations of 'No-Call' law
- Report: Mississippi only state to see drop in home prices
- District at Eastover takes shape with financing in place, tenant signings under way
- John Ferrucci'a perfect voice is perfect for the Silver Slipper Casino
- States settle with manufacturers in DRAM price-fixing case
- City suing Hercules for pollution at shuttered plant site
- Pickering collects more money from failed beef plant project
- Ex-Democrat Taylor cleared to run in primary as Republican
- Rankin chosen as new president of Alcorn State