FOR RELEASE:

State Comptroller Thomas P. DiNapoli today announced his office completed the audit of the Village of Woodridge – Internal Controls over Selected Financial Operations.  The village is located in Sullivan County.

“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.”

Village of Woodridge – Internal Controls over Selected Financial Operations
DiNapoli’s auditors found that the general fund is in a dangerously critical state. The general fund balance has declined significantly as the direct result of operational deficits that occurred in the last four years. These deficits have been financed by transfers from other funds; including the sewer fund, which by law are not allowed. These deficits were caused by budgets that were not realistic due, in part, to inaccurate and incomplete financial information and by the failure to monitor results against adopted budgets. For example, the reported general fund balance was only $48 for the 2007-08 fiscal year, and only slightly improved to $40,000 for the 2008-09 fiscal year. In addition, auditors found that the village’s annual financial report did not agree with the clerk-treasurer’s accounting records, or the annual reports that she generated from those records and submitted to the village board, for at least the last five years. Finally, the board did not designate which employees were authorized to execute purchases. Consequently, all employees were able to authorize and make purchases on behalf of the village without prior approval, and in most instances, purchases were made without soliciting competition.

To view the audit above, visit: http://osc.state.ny.us/localgov/audits/villages/2010/woodridge.pdf.

If you have any questions or would like a comment from the Comptroller’s office regarding this audit, please call Bill Reynolds at 518-474-4015, or send an email to wreynolds@osc.state.ny.us.