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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 Nelliston – Board Oversight (2011M-285)


Released: March 14, 2012 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to review the Village’s internal controls over financial operations related to Board oversight for the period June 1, 2010, to June 30, 2011.

Background

The Village of Nelliston is located in the Town of Palatine in Montgomery County. The Village is governed by an elected Board of Trustees which is comprised of a Mayor and two Trustees. The Village’s budgeted expenditures for the 2011-12 fiscal year were approximately $450,000.

Key Findings

  • The Board does not require the Treasurer to prepare monthly reports including budget-to-actual schedules. As a result, 13 appropriation accounts were overexpended at year-end by a total of approximately $21,000.
  • The Treasurer has not file the required annual financial report (AFR) with OSC on a timely basis.
  • The Board did not audit, or cause to be audited, the records and reports of the Treasurer.

Key Recommendations

  • Require the Treasurer to provide monthly cash flow schedules, trial balances, and budget to actual reports to monitor the Village’s financial condition. Ensure that transfers are made and appropriations are available prior to funds being expended.
  • File the Village’s AFR with the Office of the State Comptroller in a timely manner.
  • Ensure that an annual audit of the Treasurer’s records is performed by the Board or by a Village officer, employee or a certified public accountant, as required by Law.

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