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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 Coxsackie – Financial Condition and Water and Sewer Fund Accountability (2014M-324)


Released: February 13, 2015 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to review the Village’s financial condition and its accountability over the water and sewer funds for the period June 1, 2012 through May 31, 2014.

Background

The Village of Coxsackie is located in the Town of Coxsackie in Greene County and has approximately 2,800 residents. The Village is governed by an elected Mayor and Village Board. Budgeted appropriations for the 2014-15 fiscal year for all operating funds total approximately $3.7 million.

Key Findings

  • Village officials did not properly classify the amounts due to the general fund from the water and sewer funds. For the fiscal year ending May 31, 2013, the water and sewer funds owed the general fund $440,974. For the fiscal year ending May 31, 2014, the amount increased to $560,359.
  • The Board did not adopt budgets which contained realistic water and sewer revenue estimates that were based on historical and other relevant information.
  • Village officials do not have written procedures for reconciling the water produced by the Village’s water system, as indicated by the master meter readings, with the water billed to the Village’s customers.

Key Recommendations

  • Review all outstanding interfund advance balances and take action to repay the advances or make necessary adjustments to reduce fund balance.
  • Adopt structurally balanced budgets that include realistic estimates of revenues for the water and sewer funds.
  • Ensure that procedures are developed for periodically reconciling the amount of water produced with the amount billed.

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