[read complete report - pdf]

Audit Objective

Determine whether the Supervisor and the Board provided adequate oversight of financial operations.

Key Findings

• The Supervisor and Board did not properly oversee the processing of the Town’s financial transactions. As a result, the Town incurred $14,541 in excess costs.
• The Board has not performed an annual audit of the Supervisor’s records.
• The Supervisor did not maintain accurate financial records and as a result, did not provide the Board with the necessary information to assess the Town’s financial position.

Key Recommendations

• The Board should establish proper internal controls over financial transactions and perform its required annual audit.
• The Supervisor should maintain complete and accurate records and provide financial position reports to the Board.

Town officials agreed with our recommendations and indicated they planned to initiate corrective action.