Titusville city officials confirmed a $1 million gap in municipal funds during a recent financial audit, prompting an investigation into where the money went. The audit, conducted by an external accounting firm, identified the shortfall in late January, according to city documents obtained by 321 Daily. City Manager Laura Thompson said the discrepancy involves unaccounted expenditures from the 2022 fiscal year. "We take this seriously," Thompson said. "Our priority is to find where the money is and ensure accountability." The audit is expected to conclude by mid-February, with findings shared publicly after that. The missing funds are linked to a city contract for infrastructure repairs on Saturn Avenue, a project approved in 2022. City records show the contract was awarded to Coastal Construction Solutions for $2.5 million, but invoices totaling $3.5 million were submitted. The city paid the full amount before the audit flagged the overpayment. Council member James Carter called the situation "unacceptable." "We need transparency," Carter said. "Residents deserve to know where their tax dollars are going." The audit also found that 12 other city contracts from 2020 to 2022 had irregularities, though none reached the scale of the Saturn Avenue issue. City officials said they are working with the accounting firm to trace the missing funds and are reviewing internal controls. A special meeting of the city council is scheduled for February 15 to discuss next steps. Residents can access audit summaries on the city’s website starting February 20. The city has not yet filed a report with the Florida Department of Law Enforcement, which oversees public corruption cases. Thompson said no criminal charges are currently under consideration but added that the city will cooperate fully with any investigation. "This is about restoring trust," she said. "We’re committed to getting to the bottom of this."