Town of Schroon - Town Hall Expansion Project (2018M-128)

Issued Date
October 05, 2018

[read complete report - pdf]

Audit Objective

Determine whether Town officials provided sufficient oversight and management of the Town Hall expansion project.

Key Findings

  • An itemized budget was never prepared for the project outlining the financing sources needed to fund the estimated cost.
  • Accounting records for the project were not maintained throughout the fiscal year.
  • We project expenditures will exceed the financing sources for the project by approximately $98,000 (7 percent), resulting in the project not being able to repay interfund advances made from the general fund.

Key Recommendations

  • Prepare and approve an itemized budget for each project and amend it as needed.
  • Ensure the Town’s accounting records for projects are accurate and maintained in a timely manner.
  • Ensure the balance of outstanding interfund advances from the general fund that cannot be repaid are written off.

Town officials generally agreed with our recommendations and indicated they planned to initiate corrective action.