Cortland County - Financial Management and Reporting (2019M-162)

Issued Date
November 27, 2019

[read complete report - pdf]

Audit Objective

Determine whether the Legislature ensured County officials had accurate and complete financial information with which to manage operations.

Key Findings

The Legislature failed to adequately oversee the County’s finances. The Legislature:

  • Failed to address extended vacancies in key financial positions.
  • Failed to address deficiencies identified in previous audits and will pay at least $428,800 to several accounting firms to correct the accounting records.
  • Did not have policies and procedures in place to receive or ensure others received critical financial information, such as budget-to-actual reports or annual financial reports during our audit period.

County officials:

  • Filed the 2017 annual financial report (AUD) with the State Comptroller’s Office (OSC) 519 days late because of the condition of the records.

Key Recommendations

  • Fill key financial positions within a reasonable timeframe.
  • Address deficiencies identified in previous audits to ensure the accuracy of the accounting records.
  • Update and/or develop policies and procedures to ensure the Legislature and County officials are provided with accurate and complete financial information.

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