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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 Conesville – Long-Term Planning (2016M-314)


Released: December 2, 2016 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to examine the Town’s long-term planning for the period January 1, 2015 through July 26, 2016.

Background

The Town of Conesville is located in Schoharie County and has a population of approximately 730. The Town is governed by an elected five-member Town Board. Budgeted appropriations for all funds for 2016 total approximately $930,000, of which $598,100 is for the highway fund.

Key Findings

  • Town officials have not adopted formal long-term financial or capital plans for equipment replacement.
  • The Board has not established any reserves to ensure financial resources are available to finance future capital equipment needs.

Key Recommendations

  • Develop long-term financial and capital plans to ensure that financial resources are available to replace capital assets in a timely manner.
  • Consider establishing reserves to set aside funds for identified future expenditures and clearly establish the purpose, planned uses and desired funding level of each reserve.

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