Independence Ave Community Improvement District (IACID)
This audit concluded the IACID has not established an internal control structure to protect the more than $730,000 in annual sales and use tax revenues collected from the public. The audit also determined the IACID, as a political subdivision of the state using public tax monies, needs to be more transparent. The governance and management structures of the IACID and its managing agency have individuals who serve both organizations as board members, officers, and/or employees, making conflicts of interest inevitable. The audit includes recommendations to improve the IACID’s accountability and transparency. The Board agreed with the recommendations.