Purpose of Audit

The purpose of our audit was to review the Supervisor's financial records and reports for the period January 1, 2015 through November 17, 2016.

Background

The Town of Newfane is located in Niagara County and has a population of approximately 9,600. The Town is governed by an elected five-member Town Board. Budgeted appropriations for 2016 totaled approximately $5.8 million.

Key Findings

• The Supervisor relied on his secretary and the Town's CPA firm to maintain the Town's accounting records and perform the Town's financial reporting without providing sufficient oversight.
• The Supervisor did not provide monthly financial reports to the other Board members.
• A property tax payment totaling $3,365 was returned by the bank for insufficient funds but was not relevied and remains unpaid.

Key Recommendations

• Properly monitor the secretary's and the CPA's work to ensure that accounting records are timely, complete and accurate.
• Provide adequate monthly financial reports to the Board for review.
• Consult with the Town attorney and seek recovery of unpaid real property taxes.