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NYS Comptroller


Taxpayers' Guide to State and Local Audits

Audits of Local Governments and School Districts

Town of Lisbon – Financial Condition (2012M-202)

Released: January 4, 2013 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit is to evaluate the Town’s financial condition for the period January 1, 2010, through December 31, 2011.


The Town of Lisbon is located in St. Lawrence County and has a population of approximately 4,100 residents. The Town is governed by a Town Board which consists of four elected Board members and an elected Town Supervisor. The Town’s 2011 operating expenditures totaled $764,164 for the general fund, $1,372,757 for the highway fund, $15,553 for the water fund, $66,088 for the sewer fund, and $37,879 for the library fund.

Key Findings

  • The Board did not adopt a policy or develop procedures to govern the level of fund balance maintained.
  • The Board had not developed accurate budget estimates or a formal, comprehensive multi-year financial and capital plan to adequately address the Town’s long-term operational and capital needs. As a result, the general fund has retained excessive amounts of unexpended surplus fund balance.

Key Recommendations

  • Adopt a policy and develop procedures to ensure that the amount of unexpended surplus funds is reasonable.
  • Adopt balanced budgets with realistic estimates of anticipated revenues, expenditures and fund balance available for appropriation. Develop long-term financial and capital plans that project operating and capital needs and financing sources for a three- to five-year period. Use the unexpended surplus fund balance in the general fund in a manner that benefits Town taxpayers.

Local Government and School Accountability Contact Information:

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