Audits of Local Governments and School Districts
Town of Parish – Financial Condition (2012M-29)
Released: May 18, 2012 -- [read complete report - pdf]
Purpose of Audit
The purpose of our audit was to review the Town's financial condition for the period January 1, 2010, to February 28, 2011.
The Town of Parish is located in Oswego County and has a population of 2,558 residents. The Town Board, which is comprised of five members. The Town's 2010-11 budgeted operating expenditures totaled approximately $474,000 in the general fund.
- The financial condition in the Town's general town-wide fund has declined in recent years from a fund balance of $214,204 at the end of 2008 to a fund balance of $735 at the end of 2010. The deteriorating financial condition in the general town-wide fund is primarily the result of the appropriation of fund balance during the year and in the budget.
- While the general town-wide fund is experiencing fiscal stress, the general part-town fund is accumulating excessive fund balance. At the end of 2010, there was $372,142 in fund balance, which represented 430 percent of the 2011 budgeted appropriations totaling $86,500.
- Prepare an accurate estimate of the unreserved fund balance at the end of the fiscal year for the Board's consideration in developing the ensuing year's budget and refrain from appropriating fund balance in excess of amounts reasonably expected to be available.
- Use the surplus fund balance in the general part-town fund in a manner that benefits Town taxpayers.
Local Government and School Accountability Contact Information:
Phone: (518) 474-4037; Email: firstname.lastname@example.org
Address: Office of the State Comptroller, Division of Local Government and School Accountability
110 State Street, 12th Floor; Albany, NY 12236