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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Report Highlights

Lake Pleasant Volunteer Fire Department, Inc. - Financial Activities (2019M-157)

Released: December 6, 2019 -- [read complete report - pdf]

Audit Objective

Determine whether Department officials provided adequate oversight of operations to ensure financial activity was properly reported and money was safeguarded.

Key Findings

  • The Treasurer did not provide sufficient oversight of the bookkeeper hired to account for the Department’s financial transactions.
  • Forty-four credit card charges totaling $5,087 were paid without sufficient supporting documentation.
  • Thirty-five check collections totaling $26,751 were not deposited in a timely manner.
  • The Department’s audit committee did not audit the Treasurer’s records as required in the bylaws.

Key Recommendations

  • Perform all of the Treasurer’s duties as required by the bylaws and review the bookkeeper’s work.
  • Ensure all disbursements have the President’s prior authorization and are adequately supported.
  • Adopt procedures to ensure that collections are documented, safeguarded and deposited in a timely manner.
  • Review the Treasurer’s books and records as required.

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

Background

The Lake Pleasant Volunteer Fire Department, Inc. (Department) is a not-for-profit organization which contracts to provide fire protection services to the Town of Lake Pleasant outside the Village of Speculator in Hamilton County.

The Department is governed by its adopted bylaws. The Executive Board (Board), composed of a member-elected President, Vice-President, Secretary, Treasurer, Chief and one Trustee, is responsible for all business functions and upholding and enforcing the bylaws.

The Treasurer is the chief fiscal officer and responsible for receiving, disbursing and accounting for funds, preparing financial reports and meeting other reporting requirements. The Board contracts for bookkeeping and accounting services.

Quick Facts
2018 Revenue$180,114
2018 Expenses$175,597
Active Members24

Audit Period

January 1, 2017 - March 31, 2019


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