Purpose of Audit

The purpose of our audit was to review the Village’s financial operations for the period June 1, 2011 through August 31, 2014.

Background

The Village of St. Johnsville is located in the Town of St. Johnsville, Montgomery County, and has a population of approximately 1,700. The Village is governed by an elected five-member Board of Trustees. Budgeted appropriations for the general, water, sewer, cemetery and recreational funds for the 2014-15 fiscal year totaled approximately $2 million.

Key Findings

• The Clerk-Treasurer did not complete accurate bank reconciliations, and numerous bank account balances did not reconcile to the accounting records.
• Interfund loans were not accurately recorded.
• The Clerk-Treasurer did not file annual update documents (AUD) in a timely manner.
• The Board did not audit or provide for an audit of the Clerk-Treasurer’s records for 2012-13 and 2013-14.

Key Recommendations

• Compare reconciled bank balances with the cash balances in the accounting records and investigate and correct discrepancies in a timely manner.
• Periodically reconcile the payable and receivable balances of interfund loans and correct all errors.
• File the AUD with OSC within 60 days after the close of the fiscal year.
• Audit the Clerk-Treasurer’s records and reports annually or engage the services of an independent public accountant or auditor to conduct the audit in a timely fashion.