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Examples from GASB Statement 34 - Statement of Revenues, Expenses and changes in Net Assets
… copyright by the Governmental Accounting Standards Board, 401 Merritt 7, Norwalk, CT 06856 are reprinted by permission. …
https://www.osc.ny.gov/local-government/publications/examples-gasb-statement-34-statement-revenues-expenses-and-changes-net-assetsTown of Argyle – Town Clerk and Budgeting (2012M-231)
… over the Clerk’s office and the Town’s budgeting practices for the period January 1, 2010, to June 30, 2012. Background The Town of Argyle is located in Washington County and includes the Village of Argyle. The … Town Supervisor and four Board members – governs the Town. In 2011, the Town had operating expenses of approximately …
https://www.osc.ny.gov/local-government/audits/town/2013/03/11/town-argyle-town-clerk-and-budgeting-2012m-231Village of Pomona – Financial Condition (2015M-272)
… and Ramapo in Rockland County. The Village, which has a population of approximately 3,100, is governed by a Village … as of the end of fiscal year 2014-15. Village officials have not developed a multiyear plan to address the Village’s … rather than throughout the year when needed. The Board does not receive audited financial statements in a timely …
https://www.osc.ny.gov/local-government/audits/village/2015/12/31/village-pomona-financial-condition-2015m-272Floral Park-Bellerose Union Free School District – Financial Management (2013M-359)
… period July 1, 2011 through June 30, 2013. Background The Floral Park-Bellerose Union Free School District is located … have consistently overestimated expenditures totaling $12.5 million. Although the Board appropriated unexpended surplus funds each year (approximately $10.3 million over a five-year period) to help finance the …
https://www.osc.ny.gov/local-government/audits/school-district/2014/02/14/floral-park-bellerose-union-free-school-district-financial-managementTown of Wales – Financial Management (2017M-32)
… balances totaling $1.2 million in the general and highway funds. The Board did not adopt a reserve fund policy or … plans for expected future use for two of its five reserve funds. Key Recommendations Adopt budgets that reflect the … general and highway fund balances and use the excess funds in a manner that benefits Town residents. Adopt a …
https://www.osc.ny.gov/local-government/audits/town/2017/11/22/town-wales-financial-management-2017m-32Village of Morris – Fund Balance (2017M-58)
… average of 59 percent). In both the general and water funds, the contingency budget line exceeded the maximum … Key Recommendations Use general and water surplus funds as a financing source for funding one-time … the maximum allowable amount in both the general and water funds. … Village of Morris Fund Balance 2017M58 …
https://www.osc.ny.gov/local-government/audits/village/2017/06/09/village-morris-fund-balance-2017m-58State Comptroller Thomas P. DiNapoli Statement on Executive Budget
… Year 2027-28, it is important that actions are taken to improve the long-term stability of the state’s finances, while ensuring adequate funding for our most important needs, including education, public … funds should be retained for emergencies. It is important to develop clear guidelines on the appropriate use of these …
https://www.osc.ny.gov/press/releases/2024/01/state-comptroller-thomas-p-dinapoli-statement-executive-budgetOwego Apalachin Central School District – Capital Project and Financial Condition (2014M-109)
… Purpose of Audit The purpose of our audit was to examine certain District financial activities for the … lack of available complete information and the necessity to compile information from a variety of sources. The Board … is facing certain unknowns and restrictions and may need to use moneys from the reserve funds or unexpended surplus …
https://www.osc.ny.gov/local-government/audits/school-district/2014/08/22/owego-apalachin-central-school-district-capital-project-and-financialOpinion 96-4
… (payment of proceeds of sale of village property to third party for benefit of village) MUNICIPAL FUNDS -- Budget … (payment of proceeds of sale of village property to third party for benefit of village) REAL PROPERTY -- Sale (payment of proceeds of sale of village property to third party for benefit of village) VILLAGES -- Powers and Duties …
https://www.osc.ny.gov/legal-opinions/opinion-96-4Town of Solon - Financial Management (2018M-233)
… operational and capital needs in the general and highway funds. Key Findings From December 31, 2014 through December … Towns operational and capital needs in general highway funds …
https://www.osc.ny.gov/local-government/audits/town/2019/02/01/town-solon-financial-management-2018m-233DiNapoli: Former Town Clerk Arrested in Mayfield Theft
… public funds to herself," said DiNapoli. "I thank Fulton County District Attorney Chad Brown and New York State … was handled by his Division of Investigations working with his Division of Local Government and School Accountability, the Fulton County District Attorney's Office and New York State …
https://www.osc.ny.gov/press/releases/2018/06/dinapoli-former-town-clerk-arrested-mayfield-theftFormer Perry Ambulance Service Manager Pleads Guilty To Larceny
… more than $5,000 from ambulance funds, according to New York State Comptroller Thomas P. DiNapoli and Wyoming County … operations. Conaway’s plea followed her arrest last fall after a joint investigation by DiNapoli, O’Geen and …
https://www.osc.ny.gov/press/releases/2020/01/former-perry-ambulance-service-manager-pleads-guilty-larcenySky Light Center Inc. – Supported Housing Program
… Purpose To determine whether Sky Light Center, Inc. (Sky Light) officials expended funds … Housing Program contract with the Office of Mental Health (OMH). The audit covered the period from February 1, …
https://www.osc.ny.gov/state-agencies/audits/2014/05/05/sky-light-center-inc-supported-housing-programNew York State Debt
… Misused, debt creates a burden that reduces government’s ability to respond to vital needs and unfairly transfers … Study 2017 2013 2010 2008 Official Statements - State of New York General Obligation Bonds 2025ABC State of New York …
https://www.osc.ny.gov/debtComptroller DiNapoli and A.G. Schneiderman Announce Indictment of NYC Councilman Ruben Wills In Public Corruption Scheme
… he enlisted as a co-conspirator have been indicted by a Queens grand jury after an investigation exposed the theft of … services. Rather, according to documents made public in court today, Councilman Wills had a relative, Jelani Mills, … Doft, of the Public Integrity Bureau, are prosecuting the case. The Bureau is led by Deputy Bureau Chief Stacy …
https://www.osc.ny.gov/press/releases/2014/05/comptroller-dinapoli-and-ag-schneiderman-announce-indictment-nyc-councilman-ruben-wills-publicAkron Man Pleads Guilty to Stealing FEMA Grant Funding Intended for Education Expenses
… State Comptroller Thomas P. DiNapoli and U.S. Attorney James P. Kennedy, Jr. announced today that Richard … of 10 years in prison and a $250,000 fine. Assistant U.S. Attorney John D. Fabian, who is handling the case, stated …
https://www.osc.ny.gov/press/releases/2019/07/akron-man-pleads-guilty-stealing-fema-grant-funding-intended-education-expensesNYS Comptroller DiNapoli: ExxonMobil Agrees to Assess Impacts of Climate Change
… New York State Comptroller Thomas P. DiNapoli today announced … might impact its business. The request, co-filed by the New York State Common Retirement Fund (the Fund) and the … and for the company's ability to manage risk," said New York State Comptroller Thomas P. DiNapoli. "I am pleased …
https://www.osc.ny.gov/press/releases/2017/12/nys-comptroller-dinapoli-exxonmobil-agrees-assess-impacts-climate-changeState Agencies Bulletin No. 1818
… of the possible delay in paycheck distribution and release of direct deposit funds if the Legislature has not … bank accounts for the Wednesday, April 1, 2020 check date. Distribution of paychecks may also be delayed as … Treasury if special handling of paychecks is needed upon release of the April 1, 2020 paychecks. Questions Questions …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1818-possible-delay-direct-deposit-funds-and-paycheck-distribution-april-1Town of Wolcott – Financial Management (2020M-131)
… the Town Board (Board) effectively managed the Town of Wolcott’s (Town) financial condition. Key Findings The … financial condition, did not have a clear understanding of the laws governing the finances of the general fund tax … unrealistic budgets and did not maintain reasonable levels of fund balance. Did not adopt a multiyear financial …
https://www.osc.ny.gov/local-government/audits/town/2021/06/11/town-wolcott-financial-management-2020m-131Town of Bainbridge – Justice Court Operations (2021M-51)
… liabilities by $4,129. The Justices cannot account for the source of this money. Key Recommendations The …
https://www.osc.ny.gov/local-government/audits/justice-court/2021/11/19/town-bainbridge-justice-court-operations-2021m-51