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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Georgetown Fire District – Board Oversight (2014M-264)


Released: December 19, 2014 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to determine whether the Board provided adequate oversight of the District’s financial operations for the period January 1, 2013 through April 30, 2014.

Background

The Georgetown Fire District is a district corporation, distinct and separate from the Town of Georgetown and Madison County, in which it is located. The District is governed by an elected five-member Board of Fire Commissioners. Budgeted appropriations for the general fund for 2014 total approximately $145,700.

Key Findings

  • The Board did not ensure that complete and accounting records were maintained, that bank reconciliations were performed or that annual financial reports were prepared and filed in a timely manner.
  • The Board did not annually audit the Treasurer’s financial records or hire an external auditor.
  • The Board has not adopted policies and procedures to establish a reasonable level of unrestricted fund balance to be maintained, and fund balance as of December 31, 2013 was 128 percent of budgeted appropriations for 2014.
  • The Board did not conduct a deliberate and thorough audit of claims and approved claims for payment that did not contain appropriate supporting documentation.

Key Recommendations

  • Ensure that adequate accounting records are maintained, that monthly bank reconciliations are prepared for the Board’s review and that annual financial reports are filed with OSC in a timely manner.
  • Annually audit the Treasurer’s financial records and document the results in the Board minutes.
  • Adopt policies and procedures to establish a reasonable level of unrestricted fund balance to be maintained and develop a plan to reduce the amount of fund balance.
  • Conduct a deliberate and thorough audit of claims prior to payment.

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