5. Review of Significant and Unusual Transactions

Special Called Commission Meeting · 2026-05-21 · agenda_item

This item concerns a review of past financial transactions by the City of Palatka. Concerns have been raised about how certain sales or land swap deals were accounted for, specifically if the profits from these deals were figured out correctly and had enough proof. The city is being advised to create official steps for reviewing these kinds of important or unusual deals. This would involve having someone else check the math, ideas, and how the deals were recorded to make sure they follow the rules. This review process is currently under consideration. The work would involve setting up new accounting procedures and potentially auditing past transactions. This early stage means businesses offering accounting, auditing, and financial consulting services could provide input and compete for future work related to establishing and implementing these new financial review processes.