DiNapoli's Office Completes Audit of Town of Glen
New York State Comptroller Thomas P. DiNapoli today announced his office completed the audit: Town of Glen – Financial Condition.
“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. The Town of Glen failed to adopt realistic, structurally balanced budgets. This isn’t good for the towns or its taxpayers. The board should develop a multi-year financial plan that includes clear goals and objectives for funding the town’s long-term operating and capital needs.”
DiNapoli’s auditors found that the board did not adopt structurally balanced budgets and did not monitor the budget during the year. Generally, the board’s estimates of surplus fund balance to be appropriated in ensuing years’ budgets exceeded the amounts actually available. As a result, three of the town’s five operating funds experienced a decline in fund balance over the past several years, and in two of those cases the deficit fund balances were significant.
DiNapoli’s auditors also noted that the board has not developed a multi-year financial plan to address the worsening fiscal condition of these major operating funds.
Click here for a full copy of the audit.
If you have any questions, or would like a comment from the Comptroller’s press office regarding this audit, please call 518-474-4015, or send an email to email@example.com.