Audit shows Miss. rural water association plagued by financial problems
An audit of the North Lee County Water Association in Mississippi turned up widespread financial management problems, including violations of several state and federal laws, the Daily Journal (Tupelo, MS) reports.
The audit, which is likely “the most rigorous examination ever” of the nonprofit cooperative s financial records, comes on the heels of a $1.2 million loan from the U.S. Department of Agriculture Rural Development Administration.
While copies of the audit are required to be available for public inspection, the water association did not comply with state law.
The association has been plagued with problems, according to the Daily Journal.