A recent audit has unveiled substantial financial missteps within the administrative operations of North Lewisburg Village. The report highlights that former fiscal officer McCombs failed to remit crucial tax withholdings in a timely manner, leading to significant penalties and interest charges. Specifically, these delays resulted in the village accruing costs amounting to $27,116 for federal taxes, $1,016 for state taxes, and $535 for school district contributions. Furthermore, untimely payments to the Ohio Public Employees Retirement System (OPERS) incurred an additional penalty of $715. Under Ohio statutes, such negligence constitutes an illegal use of public funds, prompting a recovery order against McCombs totaling $29,384.10.
Beyond the issue of late payments, another significant concern identified by the audit involves improper overpayments made directly to McCombs herself. Following the retirement of the billing clerk in 2020, the fiscal officer was authorized to receive an additional monthly stipend of $500 for taking on extra responsibilities. However, after the position was filled in May 2022, McCombs allegedly continued receiving this stipend without justification. Consequently, she received unjustified compensation of $4,250 in 2022, $6,000 in 2023, and $1,000 in 2024, accumulating to a total overpayment of $11,250. A recovery order has been issued for this sum as well, further underscoring the need for accountability in municipal finance management.
The audit findings emphasize the importance of transparency and adherence to proper financial practices at all levels of governance. In response to these revelations, Mayor Ted Murphy Jr. has stated that corrective measures are being implemented promptly, including the introduction of new procedures for mail handling and the appointment of a new fiscal officer. Additionally, the mayor acknowledges the invaluable support provided by the auditor’s office in navigating this challenging situation. This case serves as a reminder of the critical role that vigilance and compliance play in safeguarding public resources, ensuring that they are utilized effectively for the benefit of the community rather than being squandered due to oversight or neglect.
In a groundbreaking move, the Virginia Department of Treasury is set to send checks directly to residents across the commonwealth for unclaimed property. This initiative stems from legislative changes driven by a recent investigative report that exposed inefficiencies in handling such assets. Over 10,000 notices have already been dispatched since May 1, signaling a significant shift in how unclaimed funds are managed.
The newly enacted CASH NOW ACT simplifies the process for claimants, allowing direct payments for amounts up to $5,000 without requiring online filings. With an estimated $3.8 billion in unclaimed property, this reform aims to reunite rightful owners with their lost assets more efficiently and transparently. Lawmakers and watchdogs agree that while progress has been made, further reforms may still be necessary to expand coverage beyond individuals.
Reforming Unclaimed Property Management
The implementation of the CASH NOW ACT marks a pivotal moment in Virginia's approach to managing unclaimed property. Previously, individuals had to navigate complex procedures to reclaim their assets. Now, the treasurer's office sends direct checks for claims under $5,000 after notifying potential recipients via mail. This streamlined process reflects a commitment to efficiency and accountability in government operations.
Unclaimed property encompasses various forms of assets, including monetary funds, stocks, bonds, dividends, utility deposits, insurance proceeds, and tangible items. When companies cannot locate rightful owners, these properties are transferred to the state treasury. Historically, this process faced criticism for its opacity and delays. However, following a detailed investigation by WTKR News 3, lawmakers took swift action during the General Assembly session. Governor Youngkin signed the legislation into law in March, marking a substantial improvement over prior practices. The treasurer's office anticipates returning approximately $2.5 million through initial batches of checks, with disbursements scheduled six weeks after sending notification letters.
Expanding Transparency and Accessibility
Beyond simplifying the claims process, the new law introduces greater transparency in reporting unclaimed property values. Treasurer David Richardson has committed to publishing more detailed information online regarding claim amounts—a practice previously adopted by other states. This increased openness aims to empower residents to verify whether they are entitled to any unclaimed assets.
While stakeholders applaud the current reforms, many advocate for extending automatic payment options beyond individual claimants. Ron Lizzi, an unclaimed property watchdog, emphasizes the need for businesses, nonprofits, and local governments to benefit equally from simplified processes. Starting with the most recently reported cases ensures higher success rates in reuniting assets with their rightful owners. With minimum payments set at $10, the initiative prioritizes recent claims where connections are likelier to be established. Residents are encouraged to check online resources to determine if they qualify for unclaimed funds, underscoring the importance of public awareness in realizing the full potential of this reform effort.
Law enforcement in Warsaw, North Carolina, has reported a troubling rise in counterfeit money cases, posing challenges for local businesses. The interim police chief has highlighted the increasing frequency of these incidents, urging both merchants and consumers to remain vigilant. Business owners have shared their experiences with counterfeit bills, emphasizing the need for tools and techniques to identify fake currency.
Recognizing Fake Bills: A Community Effort
The issue of counterfeit money has become a significant concern in Warsaw, prompting calls for increased awareness among residents and business operators. Interim Police Chief Stephen Faircloth has noted that identifying counterfeit currency often begins with tactile and visual cues. By examining the texture and appearance of banknotes, individuals can better protect themselves from fraudulent transactions.
Faircloth explained that counterfeit detection involves scrutinizing specific features of banknotes, such as the font used in serial numbers and the unique feel of authentic paper currency. He advised that movie prop money, which is sometimes mistakenly passed off as real, clearly indicates its non-legal status upon closer inspection. To enhance security, he recommended using specialized pens designed to detect counterfeit bills, ensuring that businesses can operate with greater confidence. Both Faircloth and local business owner Scotty Smith stressed the importance of taking the time to verify the authenticity of every bill received.
Impact on Local Businesses and Preventive Measures
Local entrepreneurs, including Scotty Smith of Warsaw Hardware, have faced direct financial losses due to counterfeit bills. These incidents highlight the vulnerability of small businesses to economic fraud, reinforcing the necessity for preventive measures. Merchants are encouraged to adopt tools like counterfeit detection pens and to educate themselves about the characteristics of genuine currency.
Smith recounted an instance where he unknowingly accepted a $100 movie prop bill, underscoring the potential for even seasoned business owners to fall victim to counterfeit scams. He emphasized the broader economic implications, noting that every dollar counts for local enterprises striving to thrive in challenging economic conditions. Faircloth echoed this sentiment, advising businesses to invest in counterfeit prevention methods. By fostering a culture of vigilance and employing reliable detection tools, the community aims to mitigate the adverse effects of counterfeit currency on its economy. Both parties urged community members to work collaboratively, sharing knowledge and resources to safeguard against future incidents.