Purpose of Audit

The purpose of our audit was to evaluate the Board’s financial management practices for the period January 1, 2009 through February 2, 2015.

Background

The Town of Allegany is located in Cattaraugus County and has a population of approximately 8,000. The Town is governed by an elected five-member Town Board. The Town’s total 2015 adopted budget appropriations are approximately $4 million.

Key Findings

• The Board did not review the budget-to- actual status reports the Comptroller provided.
• The Board has not developed a multiyear financial plan.

Key Recommendations

• As part of its official meetings, routinely review budget-to-actual status reports to ensure the timely monitoring of the Town’s financial condition.
• Develop and adopt a multiyear financial plan.