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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts


East Kingston Volunteer Fire Company – Financial Activities (2017M-191)


Released: December 15, 2017 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to evaluate the Company’s financial activities for the period January 1, 2013 through March 31, 2015.

Background

The East Kingston Volunteer Fire Company provides fire protection services for the Town of Ulster in Ulster County. The Board of Directors is composed of five elected members and is responsible for the Company’s overall financial management. For 2014, Company revenues totaled about $214,000 and expenses totaled about $163,000.

Key Findings

  • The Board did not establish policies and procedures for cash receipts, cash disbursements, purchasing goods and services or auditing claims, and company officials did not review bank reconciliations, bank statements and canceled check images.
  • The Board did not require the Treasurer to submit an annual report and did not annually audit the Treasurer’s records as required by the Company bylaws.
  • The Board did not establish adequate internal controls to ensure that all fundraising proceeds are properly accounted for and deposited.

Key Recommendations

  • Adopt and enforce written policies and procedures that establish strong internal controls over the Company’s financial operations, including regular reviews of financial records, reports and reconciliations.
  • Annually audit the Treasurer's records.
  • Establish controls to ensure that all fundraising money collected is properly recorded and deposited.

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