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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Report Highlights

Beaver Dams Volunteer Fire Company, Inc. - Financial Activities (2018M-17)

Released: June 15, 2018 -- [read complete report - pdf]

Audit Objective

Determine if Company officials ensured that financial activities were properly recorded and reported, and that Company moneys were safeguarded.

Key Findings

  • The Board has not provided adequate oversight of financial activity.
  • Treasurers did not maintain complete, accurate, and up-to-date accounting records and reports or perform monthly bank reconciliations.
  • Company officials did not maintain adequate fundraising documentation.

Key Recommendations

  • The Board should enforce the bylaws and adopted policies and procedures.
  • The Treasurer should maintain complete, accurate and up-to-date records and reports, and perform monthly bank reconciliations.
  • The Board should develop and adopt policies and procedures for fundraising activities.

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

Background

The Beaver Dams Volunteer Fire Company, Inc. (Company) is a notfor- profit organization that provides fire protection and emergency rescue services to residents in the Town of Catlin in Chemung County and the Towns of Orange and Dix in Schuyler County (Towns) pursuant to a contract.

The Company is governed by its adopted bylaws, with the elected administrative officers: President, Vice President, Secretary, Treasurer, who comprise the Board, and the Board of Directors (Directors). The Board and Directors are responsible for the Company’s general management and oversight. The Company’s primary sources of revenues are fire protection contracts and fundraisers.

Quick Facts
2016 Revenues $211,445
2016 Expenses $220,682
Active Members 46
Area Covered 52 square miles

Audit Period

January 1, 2016 – December 22, 2017


Local Government and School Accountability Contact Information:

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