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NYS Comptroller


Audits of Local Governments and School Districts

County of Otsego – Accountability Over Trust and Agency Funds (2014M-041)

Released: June 13, 2014 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to evaluate the County’s accountability over selected trust and agency funds for the period of January 1, 2012 through October 31, 2013.


The County of Otsego is located in central New York State and had a 2010 population of 62,259. The County is governed by an elected 14-member Board of Representatives. It uses trust and agency funds to account for assets held in a trustee capacity or as an agent for individuals, private organizations, other governmental units or other funds.

Key Findings

  • The Treasurer could not determine the source or purpose of moneys held in several trust and agency funds.
  • The Treasurer did not identify the balances in select trust and agency funds to ensure the timely disbursement of moneys owed.

Key Recommendations

  • Identify all moneys in trust and agency accounts by performing periodic reconciliations of assets to known liabilities.
  • Disburse trust and agency moneys in a timely manner and in accordance with applicable legal statutes.

Local Government and School Accountability Contact Information:

Phone: (518) 474-4037; Email:
Address: Office of the State Comptroller, Division of Local Government and School Accountability
110 State Street, 12th Floor; Albany, NY 12236