Audits of Local Governments and School Districts
Spencerport Volunteer Firemen's Association, Inc. – Internal Controls Over Financial Operations (2012M-98)
Released: August 3, 2012 -- [read complete report - pdf]
Purpose of Audit
The purpose of our audit was to examine the internal controls over the Association's financial operations for the period January 1, 2010, to March 31, 2012.
The Spencerport Volunteer Firemen's Association is located in the Town of Ogden and the Village of Spencerport in Monroe County. The Association is affiliated with the Spencerport Fire District, and has approximately 125 members. The Association is governed by a 13-member Board of Directors (Board) which includes a President, two Vice-Presidents, Secretary, Treasurer, Sergeant at Arms, Chief and six elected members as Directors. The Association's revenues and expenses for the 2010 fiscal year totaled approximately $125,000 and $113,000, respectively.
- The Board did not provide adequate oversight of the Association's financial activity. The President did not appoint an audit committee and there was no indication in the minutes or elsewhere that an audit was conducted of the Treasurer's records.
- The Board had not established any policies or procedures to implement any other internal controls, or further identify members' responsibilities as they relate to financial operations.
- The Treasurer submitted monthly financial reports to the Board, but did not submit a timely annual report to the Board of all revenues and expenses and year-end account balances.
- Appoint an audit committee to audit the Treasurer's records annually, in compliance with the Association's by-laws, and report the audit results in the minutes.
- Establish policies and procedures, or amend its by-laws, to implement and enforce additional internal control and oversight procedures.
- Require the Treasurer to submit a timely annual financial report in January of each year, and present the legally-required Report of the Directors to its membership at its annual meeting.
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