Oklahoma County finances face confusion over bookkeeping issues
Oklahoma County officials are addressing bookkeeping errors that have caused confusion about the county’s finances, with discussions ongoing about whether the county has a multi-million-dollar rainy day fund or if those funds are already depleted.
The budget evaluation team spent three hours in a meeting today analyzing the numbers, but the county clerk’s office said they need more time — and possibly additional help — to sort out the discrepancies.
“When you start looking at something like this, it really breeds an error of distrust to the citizens,” said C.J. Webber-Neal of the Neal Center for Justice.
The confusion stems from two bookkeeping errors, including a discovery earlier this year of $14 million in unexpected funds, which now appears to have been a mistake.
>> Video Below: Answers remain unclear after latest day of discussion of Oklahoma County’s finances
According to the clerk’s office, corrections made while preparing supplemental budgets are expected to reduce total funds for the next fiscal year by approximately $10 million.
“This is revising it down to the 131, and then taking the 11 out of the top; it’s like it’s been double-booked,” said Cody Compton, of the Oklahoma County budget evaluation team.
While all budget items remain fully funded, county leaders said the errors could leave the reserve fund significantly depleted.
“You guys can’t explain why that number doesn’t match with the 25-26 actual budget,” Compton said.
>> Video Below: What’s going on with Oklahoma County’s money after months of reported errors, problems with budget?
Chief Financial Officer Chantel Boso acknowledged the challenges, saying, “We don’t have all the answers for every single row at this moment, but we are working night and day to figure out the schedules in place, developed by people who are no longer here.”
The clerk’s office agreed with the district attorney’s recommendation for a full audit of county finances but noted that the next step is finding the money to pay for it.
The budget evaluation team is scheduled to reconvene Wednesday following the Board of Commissioners meeting.
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