Newfield Fire Company, Inc. - Internal Controls Over Financial Activity (2014M-346)

Issued Date
January 30, 2015

Purpose of Audit

The purpose of our audit was to review controls over cash receipts and disbursements for the period January 1, 2013 through September 5, 2014.


The Newfield Fire Company, Inc. is a not-for-profit organization located in the Town of Newfield, Tompkins County. The Company, which is governed by a 10-member Board of Directors, contracts with the Town to provide fire protection and emergency services. Budgeted appropriations for 2014 totaled approximately $360,000.

Key Finding

  • The Auditing Committee and the independent auditor did not have procedures in place to obtain or review canceled check images, and adequate documentation of the President’s approval for disbursements was not always kept.

Key Recommendation

  • Ensure that adequate documentation is available for the Auditing Committee and the independent auditor to perform their annual audits.