Purpose of Audit
The purpose of our audit was to determine whether the Board provided adequate oversight of the Clerk-Treasurer’s duties for the period June 1, 2016 through October 16, 2017.
The Village of Milford is located in the Town of Milford in Otsego County and has a population of approximately 415. The Village is governed by an elected three-member Village Board. Budgeted appropriations for the 2017-18 fiscal year total $407,115.
- Duties performed by the Clerk-Treasurer are not segregated, and the Board does not provide adequate oversight.
- The Board did not ensure that the required annual audit of the Clerk-Treasurer’s records was performed.
- The Board should periodically review bank statements, canceled check images, bank reconciliations and monthly reports.
- The Board should perform, or cause to be performed, the required annual audit of the Clerk-Treasurer’s records.