Newark Valley Fire District - Board Oversight (2020M-30)

Issued Date
May 01, 2020

[read complete report - pdf]

Audit Objective

Determine whether District officials established adequate controls over financial activities to safeguard assets.

Key Findings

  • There were control weaknesses in the community hall rental process.
  • Documentation of compliance with the procurement policy was incomplete.
  • Although monthly financial reports were accurate and reliable, the Board did not perform an annual audit of the Treasurer’s records for 2017 and 2018.
  • The Treasurer did not file required annual update documents with the Office of the State Comptroller as of the end of our audit.

Key Recommendations

  • Improve controls over community hall rentals.
  • Improve documentation of compliance with the procurement policy.
  • Provide for an annual audit of the Treasurer’s records.
  • File annual financial reports within 60 days of the close of the fiscal year.

District officials generally agreed with our findings and indicated they plan to initiate corrective action.