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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 Deerpark – Budget Review (B6-15-23)


Released: November 6, 2015 -- [read complete report - pdf]

Purpose of Audit

The purpose of our budget review was to determine whether the significant revenue and expenditure projections in the Town’s preliminary budget for the 2016 fiscal year are reasonable.

Background

The Town of Deerpark, located in Orange County, issued debt totaling $868,000 to liquidate the accumulated deficit in the Town's general and highway funds as of December 31, 2008. Local Finance Law requires all local governments that have been authorized to issue obligations to fund operating deficits to submit their preliminary budgets for the next fiscal year to the State Comptroller for review while the deficit obligations are outstanding.

Key Findings

  • Based on the results of our review, we found that revenue and expenditure projections in the proposed budget are reasonable.
  • The amount of appropriated fund balance in the general and highway fund budgets represent 21 and 50 percent, respectively, of the projected year-end fund balance. The continued reliance on appropriated fund balance to fund Town operations will eventually deplete fund balance and adversely affect the Town's financial condition.
  • The Town's preliminary budget complies with the property tax levy limit.

Key Recommendations

  • Identify other revenue sources to replace fund balance or make corresponding reductions in expenditures in future budgets.

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