[read complete report – pdf] 

Audit Objective

Determine whether the former Town Supervisor (Supervisor) maintained timely, complete and accurate accounting records and reports to allow the Town Board (Board) and department heads to monitor finances and prepare adequate budgets.

Key Findings

The former Supervisor did not maintain timely, complete and accurate accounting records to allow the Board and department heads to monitor finances and prepare adequate budgets.

• Collections and disbursements totaling more than $6.4 million were not recorded, and bank reconciliations were not completed.
• Monthly financial reports were not provided to the Board or department heads during 2020 or 2021.
• Adopted budgets were not balanced.
• Taxpayers were not treated equitably because the Board consistently levied the majority of property taxes in the town-wide (TW) funds, where additional funding was not needed due to the casino revenues and did not levy the necessary property taxes in the town-outside-village (TOV) funds.
• The Town paid additional costs of $51,400 to have the accounting records created, the annual financial report (AFR) for 2020 and 2021 filed and the 2023 budget prepared by an accounting firm.
• Transparency was impaired because the Town’s AFRs were not filed timely.

Key Recommendations

• Record collections and disbursements and reconcile accounting records to bank balances.
• Provide monthly financial reports to the Board and department heads and file AFRs timely.
• Adopt balanced budgets with appropriate real property tax levies that ensure equity among tax bases.

Town officials agreed with our findings and indicated they plan to initiate corrective action.