According to media reports, the council began to discover discrepancies last year.
The audit report will be made public July 18, said city spokesman James Hammond.
The city released a statement July 2.
"The city of East Point takes the findings from the audit very seriously as this is a very serious matter. We are deeply concerned regarding the findings of the city audit and are in the process of investigating reported information. Upon further review, any persons found guilty of wrongdoing will be prosecuted to the highest letter of the law. Once again, our No. 1 priority is to maintain the public's trust in our financial management of the city."
East Point Mayor Earnestine Pittman told the Neighbor last week, "The money is not missing."
She released her own statement last week via an emailed newsletter, received by the Neighbor on Saturday.
In it, Pittman named vendor “Camp Dresser & McKee Inc. in their role as program manager/construction management of our $52 million capital improvement program” as the subject of the probe.
"The news media zeroed in on the following fraud examination report findings stated by [Mark] Felton...Invoices paid without a purchase order: He stated that 'from January 2000 through the end of December 2012 that almost $200 million in city purchases did not have a purchase order.' What does this mean?...The only way that you can tell whether or not the work was done and at a competitive price without padding is to have a purchase order."
Eight findings, in total, Pittman said, were of irregular accounting practices.
She said she planned to meet with Fulton County District Attorney Paul Howard and the FBI on July 5.