Purpose of Audit

The purpose of our audit was to review the Village’s internal controls over cash disbursements for the period June 1, 2011, through January 29, 2013.

Background

The Village of Whitney Point is located in the Town of Triangle in Broome County and has 964 residents. The Village is governed by an elected Board of Trustees comprised of four Trustees and a Mayor. The Village’s annual budget for the 2012-13 fiscal year was $1.22 million.

Key Findings

• The Mayor and the Board did not conduct a thorough and deliberate audit of the claims presented for payment and therefore, did not ensure that disbursements were for proper Village purposes.
• The Board also did not adequately segregate duties of the Clerk-Treasurer or implement sufficient compensating controls.
• The Board did not conduct an audit of the Clerk-Treasurer’s records for the 2011 fiscal year.

Key Recommendations

• Perform an audit of all claims presented for payment and verify that all payments are appropriate.
• Segregate the duties of the Clerk/Treasurer or implement compensating controls.
• Conduct an audit of the Clerk-Treasurer’s records each year.