Determine whether the Board provided adequate oversight over financial operations and whether the Treasurer prepared financial records and filed reports.
- The Board did not adequately oversee the Treasurer’s work or require annual audits of the Treasurer’s records and reports.
- The Treasurer did not provide regular financial reports to the Board or maintain adequate accounting records.
- The Treasurer did not file Annual Update Documents (AUDs), which are the annual financial reports, with the Office of the State Comptroller (OSC) or the Board in a timely manner.
- Provide adequate oversight and require the Treasurer to provide regular financial reports, such as budget-to-actual reports and bank reconciliations with canceled check images, and maintain adequate accounting records.
- Annually audit the Treasurer’s records and reports.
- Ensure AUDs are filed timely.
Village officials generally agreed with our recommendations and indicated they planned to initiate corrective action.