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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

West Corners Fire Company – Accounting for Cash Receipts and Disbursements (2014M-215)


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

Purpose of Audit

The purpose of our audit was to determine whether Company officials ensured that the Treasurer was properly accounting for cash receipts and disbursements for the period January 1, 2013 through May 16, 2014.

Background

The West Corners Fire Company is a volunteer organization that is located in, and provides fire protection services for, the Town of Union in Broome County. The Company’s Officers consist of four elected members who are responsible for the Company’s overall financial management. The Treasurer acts as the Company’s chief fiscal officer. For the 2013 fiscal year, the Company reported approximately $20,000 in revenues from foreign fire insurance, fundraising activities and donations, and also reported approximately $14,600 in disbursements.

Key Findings

  • Company bylaws do not include specific procedures regarding the support for disbursements or cash receipt requirements.
  • While disbursements appeared to be for proper Company purposes and were recorded in the Company’s financial system, without canceled check images, it could not be verified.

Key Recommendations

  • Revise bylaws to include policies and procedures that establish controls over cash disbursements and receipts.
  • Obtain and review canceled check images to ensure that all disbursements are proper.

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