Village of Newark Valley – Capital Planning (2016M-289)

Issued Date
November 18, 2016

Purpose of Audit

The purpose of our audit was to review the planning process for capital improvements for the period March 1, 2015 through June 30, 2016.


The Village of Newark Valley is located in Tioga County and has a population of approximately 960. The Village is governed by an elected Board of Trustees, which is composed of a Mayor and four Trustees. Budgeted appropriations for the general, water and solid waste funds for the 2016-17 fiscal year total $838,000.

Key Finding

  • The Board has not formally adopted a multiyear capital plan.

Key Recommendation

  • Develop and adopt a formal, comprehensive multiyear capital plan to establish the goals and objectives for funding long-term operating and capital needs.