The Issue - 

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There has been recent controversy with some residents suggesting the past city manager may participated in unethical business practices.

A Forensic Audit helps the city officials and residents uncover any fraud, malpractices, misappropriations or conflicts of interest. An up-to-date audit since initiation of the Home Rule will uncover any errors in judgement, unintentional mistakes and wrong doings. It will allow residents have confidence in our governmental body going forward.

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A forensic audit of the City of Princeton for the time period of December 2022 (initiation of Home Rule Government) through December 2025 then every 5 years thereafter.  The Forensic Audit is to include:

(1) Cash Transaction Reconciliation: Examination of cash transactions to ensure proper accounting, reporting, and safeguarding of city funds.

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(2) Filed Budget vs. Actual Expenditures and Budget Amendments Review: Detailed analysis of budgeted versus actual expenditures and revenues, including the review of any budget amendments to ensure compliance with City Council-approved appropriations.

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 (3) Fund Transfers: Review of all transfers between funds to verify their authorization, accuracy, and proper recording in the City's financial statements.

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(4) Ordinance Codification: Review all ordinances that have been passed by the Princeton City Council and determine whether they have been recorded and codified properly.

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(5) Review contracts / purchases over $3,000 during FY2022 – FY2025

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(6) Additional Procedures: As necessary interviews of individuals with firsthand knowledge of activities and transactions relevant to the scope of the review.”

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In addition to the above, the initial audit will include everything above plus 

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(7) Review the collection and allocation of impact fees regarding the $17,000,000 misallocation that is in question. and

 

 (8). Review all contract expenditures and transactions of the Water and Waste Water Utility from 2022-current.  To include a detailed analysis of budgeted versus actual expenditures and revenues, including the review of any budget amendments to ensure compliance with City Council-approved appropriations. Review and disclose any service or capital expenditure, not water or sewer related funded in whole or in part by customer revenue.  

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This is a way we can safeguard Princeton.

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Amendments to the charter can only be done every 2 years, now is the time.

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If any part of this/these CHARTER ITEMS shall be found in violation of state code at any time by a valid court of law outside of the City of Princeton, only that portion of the item found of violation may be modified if possible or stricken if necessary, as ordered by that court of law. Any remaining portion of that item shall NOT be modified or removed and shall remain valid and intact.