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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Cincinnatus Fire District – Financial Controls (2014M-49)


Released: April 25, 2014 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to determine whether the Board established adequate controls to ensure that financial activity was properly recorded and reported and that District moneys were safeguarded for the period of January 1, 2012 through December 16, 2013.

Background

The Cincinnatus Fire District, which is distinct and separate from the Town of Cincinnatus, is located in Cortland County and is governed by a five-member Board of Fire Commissioners. Its general fund budget for the 2014 fiscal year totals $233,379.

Key Findings

  • The Board did not adopt an investment policy or credit card use policy.
  • The Treasurer filed annual financial reports well after the deadlines or not at all.
  • The external auditor has not filed annual audits timely or at all.

Key Recommendations

  • Adopt an investment policy and a credit card use policy.
  • Ensure that the annual financial reports are submitted to OSC in a timely manner.
  • Ensure that the Treasurer’s records are audited annually, in a timely manner.

Local Government and School Accountability Contact Information:

Phone: (518) 474-4037; Email: localgov@osc.state.ny.us
Address: Office of the State Comptroller, Division of Local Government and School Accountability
110 State Street, 12th Floor; Albany, NY 12236