Savannah Fire Company – Internal Controls Over Financial Operations (2011M-268)
Released: March 2, 2012 -- [read complete report - pdf]
Purpose of Audit
The purpose of our audit was to review the internal controls over the Company’s financial operations for the period January 1, 2010 to October 31, 2011.
The Savannah Fire Company is located in the Town of Savannah in Wayne County. The Company is operated in accordance with its By-laws, and is governed by an Executive Committee which consists of five elected members. In 2010, the Company received approximately $55,000 in revenue from fund-raising and other activities.
- The Treasurer does not prepare vouchers for each bill, as required in the By-laws.
- The Committee receives monthly transaction reports of disbursements, but does not approve the disbursements before they are paid.
- The Committee did not review monthly bank reconciliations.
- The Company has not adopted a code of ethics as required by law, and the Treasurer did not publicly disclose his interest in contracts between his private contracting business and the Company.
- Retain sufficient documentation to demonstrate that all disbursements are for appropriate Company purposes.
- Review and approve all bills prior to payment to ensure that appropriate supporting documentation is included.
- Review monthly bank reconciliations performed by the Treasurer and properly document this review.
- Adopt a code of ethics and require disclosure of interest in contracts of related parties.
Local Government and School Accountability Contact Information:
Phone: (518) 474-4037; Email: firstname.lastname@example.org
Address: Office of the State Comptroller, Division of Local Government and School Accountability
110 State Street, 12th Floor; Albany, NY 12236