Miami's Money: Overspent by $35 Million, Sloppy Bookkeeping, Auditors Say

In a recently completed outside audit of Miami's finances, the city's records proved so poor that city workers had trouble accurately accounting for bills that needed paying, money that needed collecting and other basic fiscal functions.

The audit, written by the locally based Rachlin Cohen & Holtz accounting firm and covering the 2006 fiscal year, also criticized city administrators for overspending their budget by nearly $35 million during the Hurricane Wilma cleanup -- which put the city out of compliance with state law, the audit says.