Purpose of Audit

The purpose of our audit was to review the Board’s oversight of Village operations for the period June 1, 2013 through June 30, 2014.

Background

The Village of Cayuga Heights is located in the Town of Ithaca, Tompkins County, and has a population of approximately 3,700. The Village is governed by an elected seven-member Village Board. Budgeted appropriations for the 2014-15 fiscal year total approximately $6.2 million.

Key Findings

• Accounting records are not reconciled to the bank statements.
• The procurement policy is outdated and the current process does not comply with the procedures outlined in the policy.

Key Recommendations

• Reconcile cash in a timely manner using a standard format and ensure that accounting activity in the reconciliations matches the bank and accounting records.
• Update the procurement policy to ensure that it meets the requirements of State law and monitor for compliance with the policy as part of the audit and approval process for vouchers.