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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts


Otisco Fire District – Financial Operations (2016M-415)


Released: February 17, 2017 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to examine whether the Board had adequate financial management procedures in place to annually report the District’s financial activity, review monthly reports and ensure District audit requirements were met for the period January 1, 2015 through July 31, 2016.

Background

The Otisco Fire District is a district corporation of the State, distinct and separate from the Town of Otisco in Onondaga County. The District is governed by an elected five-member Board of Fire Commissioners. Budgeted appropriations for 2016 totaled approximately $354,000.

Key Findings

  • The Treasurer had not filed an annual financial report with OSC for the years 2013 through 2015.
  • The Board did not contract for an independent annual audit of the Treasurer's records.
  • The Treasurer did not present bank reconciliations and bank statements to the Board for review.

Key Recommendations

  • Ensure that the Treasurer prepares and files annual financial reports with OSC within 60 days after the close of the fiscal year.
  • Ensure that an independent accountant performs an annual audit of the Treasurer's records as required by law.
  • Ensure that the Treasurer submits bank reconciliations and bank statements monthly to the Board for review.

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