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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts


Village of Milford – Board Oversight (2018M-25)


Released: April 20, 2018 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to determine whether the Board provided adequate oversight of the Clerk-Treasurer’s duties for the period June 1, 2016 through October 16, 2017.

Background

The Village of Milford is located in the Town of Milford in Otsego County and has a population of approximately 415. The Village is governed by an elected three-member Village Board. Budgeted appropriations for the 2017-18 fiscal year total $407,115.

Key Findings

  • Duties performed by the Clerk-Treasurer are not segregated, and the Board does not provide adequate oversight.
  • The Board did not ensure that the required annual audit of the Clerk-Treasurer’s records was performed.

Key Recommendations

  • The Board should periodically review bank statements, canceled check images, bank reconciliations and monthly reports.
  • The Board should perform, or cause to be performed, the required annual audit of the Clerk-Treasurer’s records.

Local Government and School Accountability Contact Information:

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