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NYS Comptroller

THOMAS P. DiNAPOLI

Taxpayers' Guide to State and Local Audits

Audits of Local Governments and School Districts

Town of Covert – Financial Management and Justice Court (2015M-180)


Released: December 11, 2015 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to review the Town’s budgeting practices and its resultant financial condition and to review the Court’s financial activity for the period January 1, 2014 through May 20, 2015.

Background

The Town of Covert is located in Seneca County and has a population of approximately 2,200. Budgeted appropriations for 2015 total approximately $1.2 million.

Key Findings

  • The Board adopted budgets that relied heavily on appropriated fund balance and fund balances have declined.
  • Not all moneys collected were properly receipted.

Key Recommendations

  • Ensure that budgets are structurally balanced by developing long-term financial and capital plans and maintain fund balances that are sufficient to cover cash flow needs.
  • Ensure that duplicate receipts are numbered, issued sequentially and retained where no other evidence of moneys received is available.

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