DiNapoli’s Office Completes Audit of the
Village of Victory
New York State Comptroller Thomas P. DiNapoli today announced his office completed the audit of the Village of Victory.
“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 Village of Victory failed to implement effective and appropriate internal controls over various financial operations. The village needs to do a better job increasing transparency and accountability.”
DiNapoli’s auditors found that board members failed to provide oversight of the accounting system and of the clerk-treasurer’s activities. The board did not audit or contract for the audit of the clerk-treasurer’s financial records. In addition, the village did not maintain an adequate accounting system that conformed to accounting standards and did not use its accounting software system to its fullest extent.
DiNapoli’s auditors also noted that because the clerk-treasurer did not maintain an appropriate accounting system, she was unable to prepare timely, accurate, and complete reports and, consequently, did not submit any written reports to the board. In addition, the clerk-treasurer did not file the village’s annual report with the Office of the State Comptroller as required since the end of the 2005 fiscal year.
Finally, auditors found that the board did not establish policies or procedures over cash receipts and did not require the clerk-treasurer and deputy clerk to issue receipts when receiving cash payments.
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View a full copy of the audit.