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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Your Home Public Library – Financial Management (2016M-228)


Released: October 14, 2016 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to examine the Board’s management of the Library’s financial condition for the period June 1, 2013 through April 13, 2016.

Background

Your Home Public Library is located in the Village of Johnson City, within the Town of Union, in Broome County. The Library is governed by a five-member Board of Trustees, appointed by the Village Board. Budgeted appropriations for the 2015-16 fiscal year totaled approximately $675,361.

Key Findings

  • Although the Board received monthly financial reports from the Village Treasurer that included budget-to-actual comparisons of revenues and expenditures, the reports did not include accurate cash or fund balances.
  • A $100,000 interfund advance from the Village in 2015 remains outstanding.

Key Recommendations

  • Determine an accurate fund balance for use in internal and external financial reporting going forward.
  • Ensure that interfund advances are repaid by the close of the fiscal year in which they are made.

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