The Village Board is required by New York State Village Law to conduct an annual audit of the Treasurer's books and reports.
I wrote about this in a previous post.
While residents have been taxed for this requirement in each of the last four budgets, it was only in September of 2006 that the Village Board agreed to conduct an audit and hired a private CPA, Ray Wager, to get this done. Annual financial reports and audits are important in order for the Board to properly manage Village finances. As some may recall, the Village's Annual Update Document - which is the report the Village Treasurer is required by law to submit each year to the NYS Comptroller's Office - has been submitted well beyond the state's usual deadlines, and in at least one case over the last couple years the Comptroller noted it contained "material deficiencies" and was returned to the Village as unacceptable. In addition, each year the Board is required to formally notify the public when the Annual Update Document has been filed and make it available for review. Here is the section of NYS Village Law, under the duties of the Treasurer, that requires this:
At the February 11, 2008 Board meeting there was an item listed on the agenda regarding this year's audit by Ray Wager. But that is all there was - just an item on the agenda called "auditor recommendations." Neither the Mayor nor the Treasurer offered any further explanation; nothing was read out loud or shared with the public.
A Freedom of Information request was submitted for a copy of these recommendations that were not shared with the public. The document was shared with me and I post it here:
The questions I have are:
This current audit is long overdue (again, this is an annual requirement that has not been performed since 2002). It was started in 2006, and we are almost three months through 2008. Hopefully, taxpayers will get a full report soon and a formal presentation by either the CPA or the Village Board.
I wrote about this in a previous post.
While residents have been taxed for this requirement in each of the last four budgets, it was only in September of 2006 that the Village Board agreed to conduct an audit and hired a private CPA, Ray Wager, to get this done. Annual financial reports and audits are important in order for the Board to properly manage Village finances. As some may recall, the Village's Annual Update Document - which is the report the Village Treasurer is required by law to submit each year to the NYS Comptroller's Office - has been submitted well beyond the state's usual deadlines, and in at least one case over the last couple years the Comptroller noted it contained "material deficiencies" and was returned to the Village as unacceptable. In addition, each year the Board is required to formally notify the public when the Annual Update Document has been filed and make it available for review. Here is the section of NYS Village Law, under the duties of the Treasurer, that requires this:
S 4-408 Treasurer. The treasurer of each village shall be the chief
fiscal officer of the village and it shall be his responsibility to:
e. file in the office of the village clerk, within sixty days after
the end of the fiscal year, a statement showing in detail all revenues
and expenditures during the previous fiscal year and the outstanding
indebtedness of the village as of the end of the fiscal year, except
that the village treasurer, if authorized by the board of trustees, may
within sixty days after the end of the fiscal year, submit to the
village clerk a copy of the annual report required by section thirty of
the general municipal law. The board of trustees shall, within ten days,
cause to be published in the official newspaper either a notice that the
annual financial statement has been filed and is available for
inspection or a summary of such statement in a form approved by the
state comptroller, with an endorsement thereon that details thereof are
on file in the office of the village clerk. The board of trustees shall
audit, or cause to be audited by an officer or employee of the village
or by a certified public accountant or a public accountant engaged for
that purpose, such report and supporting records
At the February 11, 2008 Board meeting there was an item listed on the agenda regarding this year's audit by Ray Wager. But that is all there was - just an item on the agenda called "auditor recommendations." Neither the Mayor nor the Treasurer offered any further explanation; nothing was read out loud or shared with the public.
A Freedom of Information request was submitted for a copy of these recommendations that were not shared with the public. The document was shared with me and I post it here:
The questions I have are:
- Why weren't these recommendations read out loud, explained or in any other way presented to the public?
- Is this the finished work product of Ray Wager, CPA for the Village annual audit - will we receive a full audit report or just this two page "summary of areas for review"?
- How much has been spent to date for this audit?
- What specific actions will the Board take to follow up on any recommendations?
This current audit is long overdue (again, this is an annual requirement that has not been performed since 2002). It was started in 2006, and we are almost three months through 2008. Hopefully, taxpayers will get a full report soon and a formal presentation by either the CPA or the Village Board.
