City closes checking accounts, finds $300K
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.
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