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Spring Lake’s finances are no longer under state control
The city of Spring Lake, Cumberland County, is no longer under state financial control.
A commission managed the city’s budget after an audit found hundreds of thousands of dollars in misspent funds.
Mayor Kia Anthony announced the news in a joyful Facebook post.
“We did it!!! We took back financial control of the City of Spring Lake,” she said.
The Local Government Commission (LGC), chaired by State Treasurer Dale Folwell, took control of the city’s purse after a 2021 audit revealed former CFO Gay Tucker issued more than $500,000 in checks for personal use. She was fired and later convicted on federal embezzlement charges and sentenced to four years in prison.
In addition to Tucker’s embezzlement, the audit found accounting errors and undocumented expenditures. The city also received a $1 million loan without approval from LGC, which put its credit rating at risk.
“The City of Spring Lake is proud to announce that effective August 1, 2024, or as soon as the newly hired CFO assumes office, full financial control will officially be returned to the City’s elected Board of Commissioners and designated Fiscal Directors,” city officials said in a statement.
The Local Government Commission, which monitors how local governments spend money, took over financial control in October 2021. State managers have reviewed financial records and instituted new policies.
Strong property tax collections, coupled with daily audits of bank accounts, have put the city on the road to recovery.