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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts


Village of Wurtsboro – Financial Operations (2017M-71)


Released: November 10, 2017 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to assess the Village’s financial condition and segregation of duties for the period June 1, 2015 through May 31, 2017.

Background

The Village of Wurtsboro is located in the Town of Mamakating in Sullivan County and has a population of approximately 1,250. The Village is governed by an elected three-member Board of Trustees. Budgeted appropriations for the 2016-17 fiscal year for the general and water funds totaled $762,250.

Key Findings

  • The Board relied on fund balance as a financing source rather than using recurring revenue to finance recurring expenditures.
  • The general fund borrowed an average of $95,300 from the water fund to maintain operations in the last three years.
  • The Mayor and Board did not segregate the Clerk-Treasurer’s duties over billing, cash receipts and disbursements, or implement compensating controls.

Key Recommendations

  • Adopt budgets that finance recurring revenues with recurring expenditures.
  • Develop a plan for the general fund to repay the interfund loans from the water fund.
  • Segregate the Clerk-Treasurer’s cash receipt and disbursement duties or provide adequate oversight of the Clerk-Treasurer’s work by establishing compensating controls to mitigate the risks associated with the Clerk-Treasurer’s incompatible financial duties.

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