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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 Ravena – Internal Controls Over Selected Financial Activities (2012M-37)


Released: June 22, 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 and purchasing for the period June 1, 2010, to July 31, 2011.

Background

The Village of Ravena is located in the Town of Coeymans in Albany County. The Village is governed by an elected Board of Trustees which is comprised of a Mayor and four Trustees. The Village's budgeted expenditures for the 2011-12 fiscal year were approximately $3.1 million.

Key Findings

  • The Board is not performing several of its oversight duties properly or in a timely manner. The Treasurer performs all budget transfers at year-end without Board approval. As of May 31, 2011, 43 accounts were overexpended in the general, water, and sewer funds, which resulted in year-end budget transfers totaling $215,554.
  • The 2009-10 and 2010-11 annual financial reports were filed almost five and four months late, respectively. Board members generally do not review the Village's financial reports, and the Board did not perform an annual audit of the Treasurer's or the Justice Court's records for 2010-11.
  • The Board did not properly oversee and monitor all purchases to ensure that its procurement policy was followed and did not properly audit all claims. We reviewed 54 claim packets totaling $160,696 and found that 36 claims totaling $48,444 had one or more deficiencies. In addition, we found four duplicate payments that resulted in overpayments for diesel fuel totaling $3,001.

Key Recommendations

  • Authorize all budgetary amendments prior to incurring an expenditure in excess of available appropriations, and ensure that procedures are in place for all budgetary amendments to be posted to the accounting records in a timely manner.
  • File the Village's annual financial report with the Office of the State Comptroller in a timely manner, as required by law. Monitor the Treasurer's financial activities by requesting and reviewing monthly financial reports. Ensure that annual audits of the financial records and reports of the Treasurer's office and the Justice Court are performed annually, as required.
  • Monitor and enforce compliance with the Village's procurement policy to ensure that written and verbal quotations and price comparisons are obtained and documented with the claim packets. Ensure that all claims are properly audited prior to payment.

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