Plattekill Public Library – Procurement and Investment of Funds (2020M-143)

Issued Date
April 16, 2021

[read complete report - pdf]

Audit Objective

Determine whether the Plattekill Public Library (Library) Board of Trustees (Board) made purchases in compliance with its procurement policy and invested in accordance with statutory requirements and its adopted investment policy.

Key Findings

The Board did not always comply with its procurement and investment policies, or with statutory requirements relating to investments.

The Board did not:

  • Ensure required quotes were obtained for the purchase of security cameras.
  • Adopt a procurement policy that included professional services. As a result, officials did not seek competition for six professional service providers receiving payments totaling $24,009.
  • Adhere to its investment policy by limiting the investment decisions to the Library’s Committee and by ensuring funds were properly invested.

Key Recommendations

  • Ensure purchases are made in accordance with the procurement policy.
  • Update the procurement policy to address the procurement of professional services and ensure competition is obtained for such services.
  • Ensure future investments are made in accordance with statutory requirements and the Library’s policy.

Library officials generally agreed with our recommendations and have initiated, or indicated they planned to initiate corrective action.