[read complete report – pdf]

Audit Objective

Determine whether the Village of Pomona (Village) Board of Trustees (Board):

• Conducted an annual audit of the Village Chief Fiscal Officer’s (CFO) financial records and reports,
• Filed the required Annual Financial Report (AFR) with the Office of the State Comptroller (OSC), and 
• Reported the results of the Village’s fiscal activities to the public in a transparent manner.

Key Findings

The Board did not:

• Conduct an annual audit, or cause to be audited, the CFO’s 2022-23 financial records and reports as required by New York State Village Law (Village Law) Section 4-408. The last completed audit was for the fiscal year ending May 31, 2021.
• Ensure the AFR was prepared and filed with OSC, as required by New York State General Municipal Law (GML) Section 30.
• Report the results of the Village’s fiscal activities to the public, as required by GML Section 30 and Village Law Section 4-408.

In addition, there was no evidence the Board reviewed and approved the Treasurer’s records for completeness, accuracy and timeliness or discussed the reports. Further, because no one reviews the Treasurer’s bank reconciliations, the Board cannot be assured reported cash balances are accurate.

The Board’s ineffective oversight resulted in:

• A limited ability to oversee financial operations,
• An increased risk of errors and/or irregularities, and
• A lack of transparency with the public regarding the Village’s fiscal activities.

Recommendations 

The audit report includes five recommendations to help the Board and CFO improve the transparency of their fiscal activities. Village officials generally agreed with our recommendations and indicated they will take corrective action.