Purpose of Audit

The purpose of our audit was to evaluate the Town’s financial operations for the period June 1, 2013 through March 12, 2015.

Background

The Village of Cohocton is located in the Town of Cohocton, Steuben County and has a population of approximately 880. The Village is governed by an elected five-member Board of Trustees. The Village’s 2014-15 budgeted appropriations were $594,527.

Key Findings

• The Board did not review or certify the relevy list.
• The Board did not audit the Treasurer’s records.
• The Treasurer and her Deputy did not issue duplicate receipts for all transactions where no other evidence of receipt was available.
• No reconciliation between the accounting records and the relevy list was completed.

Key Recommendations

• Certify the list of unpaid taxes to be relevied.
• Perform the required annual audit of the Treasurer’s financial records, or engage the services of a certified public accountant or public accountant to conduct the audit.
• Issue duplicate receipts where no other evidence of receipts are available.
• Periodically reconcile the general ledger control accounts to the individual tax payer/customer accounts.