Purpose of Audit

The purpose of our audit was to review the Town's financial operations for the period January 1, 2013 through August 31, 2014.

Background

The Town of Milton is located in Saratoga County and has a population of approximately 18,575. The Town is governed by an elected five-member Town Board. Budgeted appropriations for 2014 totaled approximately $5.9 million.

Key Findings

• The Town's accounting records were not adequately maintained.
• The Town Comptroller has not provided the Board with complete and accurate monthly financial reports and did not file an accurate 2013 annual financial report with the State Comptroller.
• The Town improperly budgeted and allocated sales tax revenue, resulting in Town taxpayers with real property located in the Village of Ballston Spa receiving an extra benefit from distributed sales tax revenues at the expense of Town taxpayers with property located outside the Village.

Key Recommendations

• Ensure that the Town's accounting records are complete, accurate and maintained in a timely manner.
• Provide the Board with monthly financial reports that compare actual revenues and expenditures with the related budget and ensure that the financial information presented in the annual financial report to the State Comptroller is accurate.
• Budget and account for sales tax revenues in compliance with statute and determine what remedies are available to address prior taxpayer inequities.