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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Smithfield Fire District –Controls Over Financial Activities (2015M-113)


Released: August 7, 2015 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to determine whether controls were adequate to ensure that financial activity was properly recorded and reported and that moneys were safeguarded for the period January 1, 2014 through February 28, 2015.

Background

The Smithfield Fire District is a district corporation of the State, distinct and separate from the Town of Smithfield in Madison County. The District, which is governed by an elected five-member Board of Fire Commissioners, also has a fire protection contract with the Town of Fenner. The District’s general fund budget for 2015 totals $68,996.

Key Findings

  • The Treasurer has not submitted required annual financial reports to OSC for 2010 through 2014.
  • The Treasurer does not provide the Board with bank reconciliations for review and there is no evidence that the Board reviews bank statements or canceled checks.
  • The Treasurer does not provide the Board with monthly budget-to-actual reports.
  • The Board did not audit all claims prior to payment.

Key Recommendations

  • File annual financial reports with OSC within 60 days after the close of the fiscal year.
  • Review bank statements, canceled checks and bank reconciliations as part of the monthly review of the Treasurer’s report and while conducting the annual audit.
  • Provide monthly budget-to-actual reports to the Board.
  • Ensure that all claims are paid only after they are audited, with the exception of those that are allowed by law to be paid in advance.

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