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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 Newark Valley – Capital Planning (2016M-289)


Released: November 18, 2016 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to review the planning process for capital improvements for the period March 1, 2015 through June 30, 2016.

Background

The Village of Newark Valley is located in Tioga County and has a population of approximately 960. The Village is governed by an elected Board of Trustees, which is composed of a Mayor and four Trustees. Budgeted appropriations for the general, water and solid waste funds for the 2016-17 fiscal year total $838,000.

Key Finding

  • The Board has not formally adopted a multiyear capital plan.

Key Recommendation

  • Develop and adopt a formal, comprehensive multiyear capital plan to establish the goals and objectives for funding long-term operating and capital needs.

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