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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Livonia Hook and Ladder Company No. 1, Inc. – Financial Controls (2014M-001)


Released: April 4, 2014 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to examine the Company’s internal controls over financial operations for the period of January 1, 2012 through December 5, 2013.

Background

The Livonia Hook and Ladder Company No. 1, Inc. is located in the Town of Livonia in Livingston County and provides fire protection services to the Town. The Company’s administrative Board comprises seven members and decision making power lies with the membership’s vote. The Company reported operating expenditures of $33,209 for 2012.

Key Findings

  • The Board’s code of ethics is inadequate and the President did not provide written disclosure of his ownership interest in a business used by the Company.
  • The Board has not adopted written policies and procedures for financial operations. The Company’s financial duties are not adequately segregated and lack compensating controls.
  • The Treasurer has not filed the required annual foreign fire insurance report for 2012 with OSC.

Key Recommendations

  • Review and revise the code of ethics and bylaws to include more guidance relating to financial oversight roles and responsibilities.
  • Adopt policies and procedures over cash receipts and disbursements that adequately segregate duties and provide oversight.
  • Maintain records relating to foreign fire insurance moneys and file the annual report.

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