City of Jamestown – Financial Condition (2016M-298)

Issued Date
September 30, 2016

Purpose of Audit

The purpose of our audit was to review the City’s financial condition for the period January 1, 2012 through August 19, 2016.


The City of Jamestown is located in Chautauqua County and has approximately 31,000 residents. The City is governed by an elected nine-member City Council. General fund budgeted appropriations for the 2016 fiscal year total approximately $35.1 million.

Key Findings

  • City officials have adopted budgets that were not structurally balanced.
  • City officials have not developed a multiyear financial plan.
  • The Mayor, Council and Director of Financial Services did not properly budget for, and the Mayor did not ensure that the Comptroller properly accounted for, health care expenditures.

Key Recommendations

  • Adopt structurally balanced budgets that include realistic estimates and fund recurring expenditures with recurring revenues.
  • Develop and regularly update a comprehensive, written multiyear financial and capital plan that includes realistic measures for rebuilding fund balance levels, addressing capital needs and restoring the City’s long-term fiscal health.
  • Correct the accounting records to ensure health care costs and fund balance are properly recorded and reported in the general fund.