LIBERTY COUNTY. Ga. (WSAV) — The Liberty County Development Authority accepted the resignation of their Chief Operating Officer after an internal review found that she had used public funds for personal expenses, a spokesperson said.
Carmen Cole's resignation was accepted on Jan. 31, 2025, after she reported an occurrence of misuse, the spokesperson said, which prompted the review.
A spokesperson said that she had fully reimbursed everything that was owed, but the Development Authority and Cole agreed that her resignation was "in their mutual best interest."
CEO Brynn Grant, who started April 2024, has implemented protocols and controls to detect and prevent financial errors or irregularities.
The Authority provided WSAV with a list of controls that they are using:
- "Bill.com, an online financial services platform, utilized to track, approve, and pay expenses, improving security and transparency in financial transactions
- Segregation of critical job duties
- Experienced certified public accountant hired as Director of Finance, Administration and Compliance
- Redundant approval process, requiring approval of two authorized employees (although, in practice, usually three employees) for all expenses under $5,000 and the additional approval of Executive Committee member for expenses above $5,000 (unless an approved reoccurring expense)
- Practice of one employee opening the mail and another employee making bank deposits is continued
- Reintroduced financial management basics such as reconciling bank accounts monthly, reviewing financial statements against budget on regular basis, posting transactions to accounting software as they occur (without delay), and presenting financial statements to the Board on a regular basis
- Support documentation is electronically attached to every expense in accounting software
- Retained accounting firm to conduct an audit annually"
For more information on the Liberty County Development Authority, you can visit their website at www.comegrow.global or attend a public meeting.