calculatorJamestown (CSi) The Jamestown/Stutsman Development Corporation (JSDC) has formed a subcommittee of its board to look at changes in how it handles its finances. That according to JSDC, CEO, Connie Ova.

The subcommittee will make recommendations to the JSDC Executive Committee, which could then forward its recommendations to the JSDC Board of Directors.

In a draft audit by Schauer & Associates, presented at the board of directors meeting, it was pointed out that some of the Jamestown/Stutsman Development Corporation accounting practices were “material weaknesses.”

Schauer & Associates, Auditor Manager Linda Mohn presented a draft audit report. She reported that she made 45 adjusting or correcting entries as part of the audit.

The audit also indicated the JSDC, including its subsidiary, the Spiritwood Energy Park Association, had assets of $17.8 million and liabilities of $8.7 million.

The finalized audit will be presented to the JSDC Board of Directors during its annual meeting on April 29.