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October 11, 2012

 

Comptroller DiNapoli Releases Municipal Audits

New York State Comptroller Thomas P. DiNapoli today announced his office completed the audits of the Oneida County Industrial Development Agency, Three-G Volunteer Fire Company, and the Three Town Fire District.

"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."

Oneida County Industrial Development Agency – Project Approval and Monitoring (2012M-149)
The Oneida County Industrial Development Agency (OCIDA) has adequately monitored projects to ensure they met or made reasonable progress toward their employment projections and imposed recapture penalties where projects failed to create jobs as projected. Also, OCIDA established and consistently applied criteria for selecting businesses receiving economic development incentives.

Three-G Volunteer Fire Company, Inc. – Internal Controls Over Financial Activities (Lewis County)
Controls over the company's financial activities were weak. The company board failed to provide adequate guidance to those responsible for receiving and depositing cash and exercised little oversight of the treasurer. In addition, the board did not comply with company by-laws and allowed for the unmonitored use of debit cards by company officials.

Three Town Fire District – Internal Controls Over Financial Operations (Cayuga County)
The district board has not adopted purchasing and investment policies, or a code of ethics, as required by law. Monthly bank reconciliations are not reviewed for accuracy and the board has not obtained an audit of the district's records by an independent public accountant, as required by law. The district has consistently failed to file a timely annual financial report.


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