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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 South Bristol – Financial Management (2015M-140)


Released: November 20, 2015 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to review the Town’s financial operations for the period January 1, 2014 through May 20, 2015.

Background

The Town of South Bristol is located in Ontario County and has a population of approximately 1,590. The town is governed by an elected five-member Town Board. Budgeted appropriations for 2015 are approximately $2.1 million.

Key Findings

  • The Board has not developed policies to govern its budgeting practices and repeatedly adopted budgets that were not based on realistic revenue estimates.
  • The Supervisor has not provided the Board with monthly financial reports since March 2014.
  • The Board has not adopted a multiyear financial plan to address the use of fund balance to finance operations.
  • The Board did not perform an annual audit of the books and records of Town officials and employees who received or disbursed money in 2014.

Key Recommendations

  • Implement fiscal policies to govern budgeting practices.
  • Ensure that the Supervisor provides the required monthly financial reports.
  • Develop a comprehensive multiyear financial plan to establish long-term objectives for funding long-term needs.
  • Annually audit or cause the audit of the books and records of all Town officers and employees who receive or disburse funds.

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