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Audit Objective

Determine whether the West Colesville Volunteer Fire Company, Inc. (Company) Board of Directors (Board) provided adequate oversight of financial operations.

Key Findings

The Board did not provide adequate oversight of financial operations. Specifically, it did not:

• Have sufficient controls or information to ensure all disbursements were appropriate and necessary. As a result, the Company made unnecessary disbursements totaling $4,107.
• Ensure adequate records were maintained. As a result, we and the Board could not determine whether all collections were properly recorded or deposited.
• Prepare a budget or audit the Company’s records, as required.
• Develop adequate written financial policies and procedures.

Key Recommendations

• Revise the bylaws or develop necessary written financial policies and procedures.
• Use press-numbered duplicate receipts and itemized deposit slips.
• Discontinue paying for sales tax, certain diesel fuel purchases and credit card fees and charges.

Company officials generally agreed with our recommendations and have initiated or indicated they planned to initiate corrective action.