Purpose of Audit

The purpose of our audit was to review the Town’s financial operations for the period January 1, 2014 through August 4, 2015.

Background

The Town of Bradford is located in Steuben County and has a population of approximately 850. The Town is governed by an elected five-member Town Board. Budgeted appropriations for 2015 totaled $737,128.

Key Findings

• As a result of operating surpluses, the Town has not used appropriated fund balance as an annual financing source.
• The Board has not adopted a multiyear financial plan.
• The Board did not perform an effective audit of claims to ensure that purchases were made for Town purposes.
• The Board and Highway Superintendent have not provided adequate oversight to safeguard highway department assets.

Key Recommendations

• Implement fiscal policies to govern budgeting practices and financial operations.
• Develop a comprehensive multiyear financial plan to establish long-term objectives for funding long-term needs.
• Ensure a proper audit of all claims, including reviewing supporting documentation.
• Implement policies and procedures to adequately account for, safeguard and dispose of highway department capital assets and consumable inventories.