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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Sir William Johnson Volunteer Fire Company, Inc. – Internal Controls (2015M-004)


Released: May 1, 2015 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to determine if internal controls are adequate to ensure that the Company’s financial activity was recorded and reported accurately for the period January 1, 2013 through September 30, 2014.

Background

The Sir William Johnson Volunteer Fire Company, Inc. is a not-for-profit corporation that contracts with the Town of Johnstown, Fulton County, to provide fire protection to a portion of the Town. The Company is governed by a seven-member Board of Directors elected by the members of the Company. Budgeted appropriations for 2014 were approximately $99,000.

Key Findings

  • Neither the former nor acting Treasurer maintained accurate, complete and up-to-date accounting records.
  • Neither Treasurer consistently performed monthly bank reconciliations.
  • Neither Treasurer consistently submitted monthly or annual financial reports to the Board.

Key Recommendations

  • Maintain accurate, complete and up-to-date accounting records that include cash balances and an accounting for all revenues and expenses.
  • Perform monthly bank reconciliations in a timely manner and present them and bank statements to the Board on a monthly basis.
  • Submit monthly and annual financial reports to the Board.

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