Purpose of Audit

The purpose of our audit was to determine whether the Board provided adequate oversight of the Clerk-Treasurer’s duties for the period June 1, 2016 through October 16, 2017.

Background

The Village of Milford is located in the Town of Milford in Otsego County and has a population of approximately 415. The Village is governed by an elected three-member Village Board. Budgeted appropriations for the 2017-18 fiscal year total $407,115.

Key Findings

• Duties performed by the Clerk-Treasurer are not segregated, and the Board does not provide adequate oversight.
• The Board did not ensure that the required annual audit of the Clerk-Treasurer’s records was performed.

Key Recommendations

• The Board should periodically review bank statements, canceled check images, bank reconciliations and monthly reports.
• The Board should perform, or cause to be performed, the required annual audit of the Clerk-Treasurer’s records.