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Audit Objective

Determine whether the Board ensured that Village officials did not have prohibited interests in Village contracts.

Key Finding

• Trustee and his spouse are the owners of a local hardware store, organized as a partnership. As a member of the Board, the Trustee had a prohibited conflict of interest in Village contracts with the hardware store. He received a direct or indirect monetary benefit as a result of 19 contracts totaling $4,190 during our audit period.

Key Recommendation

• Adopt procedures to help detect and prevent prohibited interests in contracts.

Village officials generally agreed with our recommendation.