Determine whether Cayuga County Soil and Water Conservation District (District) officials effectively managed the District’s financial condition.
District officials did not effectively manage the District’s financial condition. The District’s financial condition declined approximately $1 million during our audit period because of the Board’s hindered ability to recognize revenue shortfalls or cost overruns, limiting any potential corrective action.
- The 2016 through 2020 adopted budgets were not realistic. Revenue and expenditure estimates were not based on prior years’ actual results or trends and did not contain estimates for all known revenues and expenditures.
- The adopted budgets were not maintained in the financial accounting software.
- No budget-to-actual reports were prepared to monitor the District’s financial health.
- Comprehensive multiyear strategic, financial and capital plans were not developed.
The Board should:
- Monitor the budget by reviewing periodic budget-to-actual reports and ensure corrective actions or specific budget amendments are implemented before financial condition is negatively affected.
- Adopt multiyear strategic, financial and capital plans.
District officials generally agreed with our recommendations and indicated they plan to initiate corrective action.