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NYS Comptroller

THOMAS P. DiNAPOLI

Taxpayers' Guide to State and Local Audits

Audits of Local Governments and School Districts

Village of Endicott – Budget Review (B4-12-13)


Released: April 17, 2012 -- [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 Village’s tentative budget for the 2012-13 fiscal year are reasonable.

Background

The Village of Endicott, located in Broome County, issued debt totaling $2 million to liquidate the accumulated deficit in the Village’s general fund as of May 31, 2004. Local Finance Law requires that all local governments that have been authorized to issue obligations to fund operating deficits submit their tentative 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 the significant revenue and expenditure projections in the tentative budget are reasonable.
  • The Village has adopted a local law to override the tax levy limit in 2012-13. This local law allows the Village’s tentative budget to include a tax levy of $9,704,670, which increases the 2012-13 tax levy by 6.4 percent over the 2011-12 tax levy of $9,124,987.

Key Recommendations

  • There are no recommendations in this budget review letter.

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