Marco Island Finance Director Resigns Amidst Audit Concerns

Marco Island Finance Director Guillermo Polanco resigned from his position with the city effective immediately on Tuesday.  

“I can confirm that yesterday afternoon I accepted Mr. Polanco's resignation,” City Manager Mike McNees wrote in an email to the reporter Wednesday morning.  

“Later today, I will designate an interim director for the finance department to serve as we conduct a search for a new director,” McNees continued on Wednesday. 

Polanco’s resignation comes after Marco Island City Council Chairman Erik Brechnitz voiced concerns on Monday about “material weaknesses” in a recent audit of the City’s fiscal year 2024 financial report. The fiscal year runs from October 1 through September 30.  

Other members of Council, including Councilman Rene Champagne, described other financial reporting concerns that have been ongoing.  

The reporting problems in the 2024 audit, which was completed in late June by Clifton Larson Allen LLP, were related to grants that Marco Island received from the state and federal government.  

Polanco had said during the Council meeting on Monday night that his timing of accounting for generators received was affected by the generators not working.  

Brechnitz and other members of Council were upset Monday, stating that neither Polanco nor McNees had notified them of the concerns raised by the audit firm. 

Instead, Brechnitz discovered the issues when searching for the audit report online. Council is continuing to address their concerns in upcoming public meetings, including one scheduled with the auditors at the Council meeting scheduled for 5:30 PM August 4, if not sooner.  

Polanco worked as the finance director for the City since December 2012, according to his resume posted online. Prior to coming to work for Marco Island, Polanco was lead senior auditor for the State of Florida Auditor General from 2002 to 2006, as well as an auditor for Price Waterhouse Coopers from 1999 to 2001, his resume reveals.  

“The City appreciates Mr. Polanco's years of service, and I wish him the best,” McNees said. "City services affected by the finance department will continue as they normally would,” he added.  

Attempts to reach members of Council and Polanco for comment following his resignation were not immediately successful Tuesday night or Wednesday morning. 

Council is considering whether to hold an emergency meeting to discuss the audit and staff issues ahead of their next scheduled meeting, which is a workshop on the operating budget, scheduled for 1:00 PM, Monday, July 21. 

Check back to CoastalBreezeNews.com for updates.