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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Raquette Lake Fire District No. 3 –Internal Controls (2013M-379)


Released: March 21, 2014 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to assess internal controls over the District’s financial activities for the period January 1, 2012 through September 30, 2013.

Background

Raquette Lake Fire District No. 3 is in Hamilton County and is governed by a Board of Fire Commissioners that comprises five elected members. The District’s budget for the 2013 fiscal year was $89,040.

Key Findings

  • Monthly financial reports submitted to the Board are not accompanied by bank statements or bank reconciliations.
  • Records were incomplete because deposits were not recorded in the checkbook register and a running cash balance was not maintained.
  • The Treasurer has not filed an annual financial report with the Office of the State Comptroller since the fiscal year ending December 31, 2010.

Key Recommendations

  • Ensure the monthly reports received from the Treasurer include revenues, expenditures and reconciled cash balances so they can properly track the financial activity of the District.
  • Perform monthly bank reconciliations and include these along with a copy of the bank statements in her monthly report to the Board.
  • Ensure that the Treasurer files the annual financial report with the Office of the State Comptroller within 60 days after the close of the fiscal year.

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