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Town of Springport – Financial Management (2014M-329)
… building reserve or transfer its money into other reserve funds with the same tax base to the extent permitted by …
https://www.osc.ny.gov/local-government/audits/town/2015/08/14/town-springport-financial-management-2014m-329Poughkeepsie City School District - Budgeting (2018M-226)
… needed reserves, paying off debt and reducing District property taxes. District officials generally agreed with our …
https://www.osc.ny.gov/local-government/audits/school-district/2019/11/15/poughkeepsie-city-school-district-budgeting-2018m-226City of Yonkers - Internal Controls Over Cash Collections (2018M-14)
… of our recommendations. Appendix C includes our comments on issues raised in the City’s response letter. … Determine …
https://www.osc.ny.gov/local-government/audits/city/2019/11/22/city-yonkers-internal-controls-over-cash-collections-2018m-14Town of Hempstead Local Development Corporation – Fund Balance (2021M-61)
… corrective action. Appendix B includes our comments on issues raised in the THLDC’s response letter. … Determine …
https://www.osc.ny.gov/local-government/audits/local-development-corporation/2021/07/02/town-hempstead-local-development-corporation-fund-balanceExamples from GASB Statement 34 - Statement of Fiduciary Net Assets
… 06856 are reprinted by permission. Sample City Statement of Fiduciary Net Assets Fiduciary Funds December 31, 2002 … $ 228,050 NET ASSETS: Held in trust for pension benefits and other purposes $65,796,103 $ 80,776 Statements of individual pension plans and external investment pools are …
https://www.osc.ny.gov/local-government/publications/examples-gasb-statement-34-statement-fiduciary-net-assetsKIPP Troy Prep Charter School – Resident Tuition Billings and Collections (2024M-20)
… access to the undeposited funds, and the risk of loss, diversion or theft of School funds was increased. Key …
https://www.osc.ny.gov/local-government/audits/charter-school/2024/06/14/kipp-troy-prep-charter-school-resident-tuition-billings-and-collectionsVillage of Corinth – Investment Program (2023M-146)
… report – pdf] Audit Objective Determine whether Village of Corinth (Village) officials developed and managed a … accounts, which had an average monthly available balance of $4.8 million. Had officials considered other legally … investment program that considers all four objectives of a comprehensive investment program - legality, safety, …
https://www.osc.ny.gov/local-government/audits/village/2024/04/05/village-corinth-investment-program-2023m-146Opinion 95-28
… a fundamental limitation on home rule powers ( Albany Area Builders v Town of Guilderland , 74 NY2d 372, 547 NYS2d 627). … Inc. , 78 NY2d 500, 577 NYS2d 215; see also Albany Area Builders , supra ). The intent to pre-empt may be express … statutory scheme (see Daytop Village , supra; Albany Area Builders , supra ). Section 11 of the General Municipal Law …
https://www.osc.ny.gov/legal-opinions/opinion-95-28DiNapoli Releases Report on NYS Executive Budget
… After the disruption caused by the COVID-19 pandemic, the state’s finances have stabilized, and the Division of Budget … his annual report assessing the proposed Executive Budget, State Comptroller Thomas P. DiNapoli identifies positive … are reasonable and appropriate, providing a critical check on poor fiscal management and bond structuring choices that …
https://www.osc.ny.gov/press/releases/2024/02/dinapoli-releases-report-nys-executive-budgetOpinion 2005-4
… that bear on the issues discussed in the opinion. SCHOOL DISTRICTS -- BOCES (procedures for permissive … manner as a meeting of the voters of a union free school district ( id . at §1951[2][p]). 2 Although section 1951(2) … of a proper petition (see, e.g., O’Flynn v Village of East Rochester , 292 NY 156). 2 The BOCES board, by resolution, …
https://www.osc.ny.gov/legal-opinions/opinion-2005-4DiNapoli: Former Town of Minerva Clerk Sentenced to Prison for Embezzling Town Funds
… Jordan Green, the former clerk to the supervisor for the town of Minerva, was sentenced today in Essex County … As the clerk to the supervisor, Green was responsible for processing payroll, calculating employee benefits and … Attorney Kristy Sprague and the New York State Police for their work and partnership in combatting public …
https://www.osc.ny.gov/press/releases/2017/09/dinapoli-former-town-minerva-clerk-sentenced-prison-embezzling-town-fundsSaratoga County – Financial Condition (2013M-235)
… to closely monitor the level of unexpended surplus funds in the general fund and continue to ensure that budgets … balanced without depleting the unexpended surplus funds. Continue to closely monitor results of operations at …
https://www.osc.ny.gov/local-government/audits/county/2013/10/04/saratoga-county-financial-condition-2013m-235NYS Common Retirement Fund Announces First Quarter Results
… The New York State Common Retirement Fund's (Fund) overall estimated value … the State Fiscal Year 2018-2019 was $209.2 billion, based on a 1.53 percent investment return over the three-month … estimated value reflects benefits of $2.8 billion paid out during the first quarter. The Fund's audited value as of …
https://www.osc.ny.gov/press/releases/2018/08/nys-common-retirement-fund-announces-first-quarter-resultsCincinnatus Central School District – Fund Balance and Reserves (2014M-191)
… towns in Cortland County, five towns in Chenango County and one town in Broome County. The District is governed by a … District’s fund balance exceeded the statutory limit for two out of the last three years. District officials adopted …
https://www.osc.ny.gov/local-government/audits/school-district/2014/10/10/cincinnatus-central-school-district-fund-balance-and-reserves-2014m-191State Comptroller DiNapoli Releases Municipal Audits
… reduced its transparency of financial operations, and the public did not have an opportunity to exercise its rights to approve reserves by a vote. The board also did not properly establish the … County) The board did not procure a $748,676 pumper truck in accordance with statutory requirements and good business …
https://www.osc.ny.gov/press/releases/2023/06/state-comptroller-dinapoli-releases-municipal-auditsDiNapoli: Former Village of Bemus Point Clerk-Treasurer Pleads Guilty to Embezzling Village Funds
… to guarantee that Bemus Point gets all its money back now, and in one shot, rather than face the uncertainty of … of fraud involving taxpayer money by calling the toll-free Fraud Hotline at 1-888-672-4555, by filing a complaint online at investigations@osc.state.ny.gov , or by mailing a …
https://www.osc.ny.gov/press/releases/2021/12/dinapoli-former-village-bemus-point-clerk-treasurer-pleads-guilty-embezzling-village-fundsTown of Ontario – Board Oversight and Information Technology (2013M-105)
… of significant fund balances in the general and water funds and, conversely, dangerously low fund balance in the … ensure appropriate records are maintained detailing the funds and amounts of the transfers, and plan for repayment. … the excessive fund balances in the general and water funds, and to continue to closely monitor the financial …
https://www.osc.ny.gov/local-government/audits/town/2013/08/16/town-ontario-board-oversight-and-information-technology-2013m-105Village of Catskill – Financial Condition (2014M-134)
… records, the Board did not have reliable information on which to base its decisions. The Village filed AFRs for …
https://www.osc.ny.gov/local-government/audits/village/2014/08/08/village-catskill-financial-condition-2014m-134Town of Lyonsdale – Financial Condition, Board Oversight and Controls Over Fuel Inventory (2013M-163)
… the quantities of fuel purchased/delivered, dispensed, and on hand. These records should be periodically reconciled to physical inventories of fuel on hand. … Town of Lyonsdale Financial Condition Board …
https://www.osc.ny.gov/local-government/audits/town/2013/09/06/town-lyonsdale-financial-condition-board-oversight-and-controls-over-fuel-inventoryVillage of Deposit – Fiscal Monitoring and Selected Financial Operations (2013M-205)
… provided without Board approval. The Clerk-Treasurer and her Deputy perform most aspects of the cash receipt and …
https://www.osc.ny.gov/local-government/audits/village/2013/12/13/village-deposit-fiscal-monitoring-and-selected-financial-operations-2013m-205