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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts


West Ghent Volunteer Fire Company – Treasurer’s Activities (2016M-48)


Released: November 3, 2017 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to evaluate controls over the Treasurer’s activities for the period January 1, 2013 through August 12, 2014.

Background

The West Ghent Volunteer Fire Company provides fire protection services in parts of the Towns of Ghent and Claverack in Columbia County. The Company is governed by an elected three-member Board of Trustees. As of the end of the 2013 fiscal year, the Company received approximately $160,800 in revenue and received approximately $19,700 in foreign fire insurance premiums in 2014.

Key Findings

  • The Company did not require multiple signatures when withdrawing funds from its bank accounts.
  • The Board did not establish a credit card policy to describe proper credit card usage, dollar limits for purchases or documentation required to be maintained to support credit card purchases.
  • The treasurer did not maintain complete and accurate records to account for all of the Company’s financial activities and did not submit accurate periodic reports to the Board and other reporting agencies as required.
  • The Board did not perform an annual audit of the Company’s records and reports.

Key Recommendations

  • Ensure that Company officials require multiple signatures for the withdrawal or disbursement of Company funds.
  • Establish a credit card policy.
  • Require the Treasurer to submit detailed written deposit and disbursement reports on a monthly basis and ensure that the Treasurer prepares annual reports accurately and files them with appropriate entities as required.
  • Annually audit the 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