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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Broome County – Financial Condition (2017M-187)


Released: February 8, 2018 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to examine the County’s financial condition for the period January 1, 2016 through February 23, 2017.

Background

Broome County, located in the central southern portion of upstate New York commonly referred to as the Southern Tier, has a population of approximately 200,000 and encompasses 16 towns, one city and seven villages. The County is governed by an elected 15-member Board of Legislators. Budgeted appropriations for 2017 total approximately $383 million.

Key Findings

  • On average, County officials annually used $2 million of available fund balance to fund operations in fiscal years 2014 through 2016.
  • County officials have not adopted any specific fund balance policy that states minimum levels of fund balances that should be maintained.

Key Recommendations

  • Cease using fund balance to finance recurring expenditures.
  • Develop a fund balance policy that establishes a reasonable amount of fund balance to be maintained to meet the County’s needs, provide sufficient cash flow and reduce or eliminate reliance on short-term borrowing.

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