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August 12, 2010

DiNapoli's Office Completes Audit of Town of Franklinville

State Comptroller Thomas P. DiNapoli today announced his office completed the audit report: Town of Franklinville: Sales and Use Tax Revenues and Town Clerk Cash Receipts.

 “My office’s audits of local governments improve their financial management practices,” DiNapoli said. “These audits are tools for local officials to make sure proper policies and procedures are in place to protect taxpayer dollars and provide the best possible service these taxpayer dollars can deliver. Franklinville officials need to make sure revenues are credited accordingly to help alleviate property taxes.”

DiNapoli’s auditors found the town of Franklinville incorrectly budgeted and accounted for sales and use tax revenues totaling $206,222 from 2004 through 2009 in the town-wide funds. Consequently, the revenues were not credited to the town-outside-village funds where they could have been used to reduce the real property taxes levied.

After auditors brought this to the attention of town officials, the board correctly adopted the 2010 budget without budgeting for sales and use taxes in the town-wide funds.

Auditors recommend the board should seek legal counsel to determine what remedies are available to address the inequities that have occurred prior to 2010.

The auditors also found that internal controls over the clerk’s cash receipts should be improved. For example, the clerk did not issue duplicate receipts for collections that were received from January 2009 to December 2009 totaling $10,578.

For a full copy of the audit, see:



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