On Friday, the Neosho City Council hired the accounting firm of BKD, LLP to help assist in reconciling the city’s cash accounts and to review some other financial information. That reconciliation is the first step to getting a handle on where the city stands financially.
To put this in very simple terms: until the city knows how much cash it has in the bank, it can’t know with any level of confidence how much will need to be borrowed to meet its financial debt obligations. BKD will help confirm to the city what those balances are.
This isn’t the sole fix for the city’s financial crisis, but rather the first step in getting the city’s financial position stabilized so it can start its recovery.
The full Globe article is here.
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