Audits of Local Governments and School Districts
Town of Wayland – Fiscal Oversight (2012M-111)
Released: November 16, 2012 -- [read complete report - pdf]
Purpose of Audit
The purpose of our audit was to examine the oversight and management of fiscal operations for the period January 1, 2009, to July 28, 2011.
The Town of Wayland is located in Steuben County. The Town is governed by an elected five-member Town Board comprising the Town Supervisor and four council members. For the 2011 fiscal year, the Town's budgeted expenditures were $435,235 for its general fund and $774,782 for its highway fund.
The Board did not fulfill its fiscal oversight responsibilities.
- The Town does not have a contractual agreement with the accounting firm (Firm) performing financial services for the Town and the Supervisor does not appropriately monitor the Firm.
- The Board did not perform an annual audit of Town records and reports, as required by law.
- The Board does not properly monitor compliance with its procurement policy.
- Town officials did not properly budget or account for revenues in the town-wide and town-outside-village funds, as required. As a result, the fund balance of the Town's general fund significantly decreased while the combined fund balance of the general fund town-outside-village and highway town-outside-village funds became excessive.
- Establish a written contract with the Firm that outlines the services to be provided and the compensation to be paid. Oversee the work that the Firm is performing on his behalf and make all disbursements of Town monies.
- Perform, or provide for, an annual audit of records and reports of all Town officers and employees receiving or disbursing money on behalf of the Town.
- Regularly monitor purchasing by Town officials and employees to ensure compliance with the requirements set forth in the Town's procurement policy and the law.
- Continue to use the limited available options for reducing the excessive fund balance in the town-outside-village funds.
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