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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Sauquoit Fire District No. 1 – Controls Over Financial Activities (2014M-178)


Released: September 5, 2014 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to determine if District controls were adequate to ensure that financial activity was properly recorded and reported and that District moneys were safeguarded for the period January 1, 2013 through February 28, 2014.

Background

The Sauquoit Fire District No. 1 is a district corporation of the State, distinct and separate from the Town of Paris, in Oneida County. The District is governed by a five-member Board of Fire Commissioners and has an elected Treasurer. The general fund budget totals $111,698 for the 2014 fiscal year.

Key Findings

  • The Board did not ensure that complete and accurate accounting records were maintained, that bank reconciliations were performed, that the District’s annual financial report (AUD) was prepared and filed in a timely manner or that an annual audit of the Treasurer’s records was performed.
  • The Board did not formally adopt the 2014 budget and the proposed 2014 tax levy exceeded the statutory limit.
  • At the end of 2013, unassigned fund balance totaled 104 percent of the next year’s budgeted appropriations.

Key Recommendations

  • Ensure that the Treasurer maintains adequate accounting records, reconciles bank accounts monthly and files the District’s AUD with OSC within 60 days after the close of the fiscal year, and provide for an annual audit of the Treasurer’s financial records.
  • Calculate the District’s statutory tax limit and formally adopt the budget.
  • Develop a plan to reduce the amount of fund balance and use the excess tax levy to reduce the tax levy for the 2015 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