[read complete report – pdf]

Audit Objective 

Determine whether the Village of Dolgeville (Village) Treasurer maintained adequate records and reports to allow the Board of Trustees (Board) to properly manage Village finances.

Key Findings 

The Treasurer did not record all financial activity using proper accounting procedures. As a result, inadequate records and reports were maintained and the Board lacked the financial information necessary to properly monitor and manage Village finances. The Treasurer did not: 

• Properly account for fund balance within each Village fund or establish capital projects funds to separately account for the financial activity of projects undertaken.
• Periodically reconcile water and sewer receivable control account balances to the total of the individual customer account balances.
• Provide adequate budget status and balance sheet reports to the Board each month.
• Prepare and file the required annual financial report (AFR) with the New York State Office of the State Comptroller (OSC) for the 2019-20 through 2022-23 fiscal years.

Key Recommendations 

• Maintain complete, accurate and timely financial records.
• Periodically reconcile receivable control accounts.
• Provide monthly financial reports to the Board and file AFRs, as required.

Village officials agreed with our recommendations and indicated they have initiated or plan to initiate corrective action.