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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Slaterville Springs Fire District – Internal Controls Over Financial Operations (2013M-315)


Released: January 24, 2014 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to determine whether the District’s controls are adequate to ensure that financial activity is properly recorded and reported to safeguard District moneys for the period January 1, 2012 through September 18, 2013.

Background

The Slaterville Springs Fire District is a district corporation of the State, distinct and separate from the Town of Caroline and the County of Tompkins in which it is located. The Board of Fire Commissioners, which consists of five elected members, governs the District. The District’s general fund budget totaled $90,940 for the 2013 fiscal year.

Key Findings

  • The Board did not formally adopt a procurement policy or an investment policy, as required by statute.
  • While the Board established some controls, some key components were lacking. For example, the Board did not review the Treasurer’s monthly bank reconciliations and no one compared the financial activity recorded to the bank statements and/or cancelled check images on a monthly basis.
  • The required annual financial report has not been filed with the Office of the State Comptroller for the last three years.
  • The Board was provided with a monthly report, but it lacked certain financial activity and comparisons. For example, it did not contain activity in the equipment purchase savings account or budget-versus-actual activity.

Key Recommendations

  • Adopt a procurement policy and an investment policy, and annually review and update these policies as needed.
  • Provide more routine oversight, which includes reviewing monthly bank reconciliations, routinely comparing activity recorded by the Treasurer to the bank statement, and ensuring that the Treasurer accounts with the Board annually.
  • File the annual financial reports with the Office of the State Comptroller within 60 days of the fiscal year end.
  • Prepare complete monthly reports, which should include all District bank accounts and budget-versus-actual activity.

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