The Lake County Council Tuesday approved a $30,000 bump in pay for its director of finance to compensate for the time spent managing the investigation into what caused the breakdown in the county’s accounting process.
The breakdown prompted Standard & Poors to stop issuing the county a credit rating and led the State Board of Accounts to stop its audit process and threaten to invoke state statute that would allow for the state to hire accounts to take over both the auditor’s and treasurer’s offices because they cannot be audited. The county has hired forensic accountants Baker Tilly to determine what went wrong. An initial report is expected Oct. 16.
Petalas and Auditor Peggy Katona have flipped between the auditor and treasurer’s offices every eight years due to term limits. The pair have been in office for about three decades. “It will be finished. Hopefully it will be finished sooner than later,” Petalas said. He said neither the auditor’s office nor treasurer’s office were consulted about the multimillion dollar purchase of the Oracle Software. “Now we have it. We are doing our best,” Petalas said.
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