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Town of Hempstead Local Development Corporation – Fund Balance (2021M-61)
… what level of fund balance is needed or how any surplus funds will be used and the timeframe for doing so. The … written fund balance policy and a plan to use surplus funds. THLDC officials disagreed with certain aspects of our …
https://www.osc.ny.gov/local-government/audits/local-development-corporation/2021/07/02/town-hempstead-local-development-corporation-fund-balanceTown of Springport – Financial Management (2014M-329)
… building reserve or transfer its money into other reserve funds with the same tax base to the extent permitted by …
https://www.osc.ny.gov/local-government/audits/town/2015/08/14/town-springport-financial-management-2014m-329Examples from GASB Statement 34 - Statement of Fiduciary Net Assets
… Corporate bonds 16,320,047 Corporate stocks 26,112,075 Other investments 3,264,009 …
https://www.osc.ny.gov/local-government/publications/examples-gasb-statement-34-statement-fiduciary-net-assetsPoughkeepsie City School District - Budgeting (2018M-226)
… without Board Approval. The District had unrestricted funds totaling $10.6 million and $12 million at the end of … fund balance to comply with the statutory limit. Surplus funds can be used as a financing source for funding one-time …
https://www.osc.ny.gov/local-government/audits/school-district/2019/11/15/poughkeepsie-city-school-district-budgeting-2018m-226City of Yonkers - Internal Controls Over Cash Collections (2018M-14)
… due to the credit card vendor improperly withholding funds. Ice rink collections totaling $5,364 were unaccounted … vendor and the Internal Revenue Service (IRS) to recover funds withheld. Provide oversight and segregate incompatible …
https://www.osc.ny.gov/local-government/audits/city/2019/11/22/city-yonkers-internal-controls-over-cash-collections-2018m-14KIPP Troy Prep Charter School – Resident Tuition Billings and Collections (2024M-20)
… manner, the School did not have access to the undeposited funds, and the risk of loss, diversion or theft of School funds was increased. Key Recommendation Deposit and record …
https://www.osc.ny.gov/local-government/audits/charter-school/2024/06/14/kipp-troy-prep-charter-school-resident-tuition-billings-and-collectionsVIII.1.C Expenditure Transfers – VIII. Accounts Payable Journal Vouchers & General Ledger Journal Entries
… transactions using a General Ledger Journal Entry in SFS. Expenditure transfers include: Expenditure transfers … between funds. Current SFS functionality prevents the submission of adjustments and transfers between funds in the submodules. Expenditure transfers for agencies that …
https://www.osc.ny.gov/state-agencies/gfo/chapter-viii/viii1c-expenditure-transfersVillage of Port Dickinson – Financial Condition (2014M-154)
… condition and budget procedures for the general and sewer funds for the period June 1, 2012 through February 6, 2014. … Budgeted appropriations for the general, water and sewer funds for fiscal year 2014-15 total approximately $1.5 …
https://www.osc.ny.gov/local-government/audits/village/2014/08/29/village-port-dickinson-financial-condition-2014m-154State Comptroller DiNapoli Releases School Audit
… timely. Managing the finances of ECA activities is meant to be a learning experience for student club members. By not … safeguarded and properly accounted for. Find out how your government money is spent at Open Book New York . …
https://www.osc.ny.gov/press/releases/2021/01/state-comptroller-dinapoli-releases-school-auditElmira Heights Central School District – Financial Condition (2014M-76)
… finance planned operating deficits has depleted available funds to dangerous levels. District officials improperly … relying on appropriated fund balance and reserves. Return funds improperly transferred from reserves and ensure that …
https://www.osc.ny.gov/local-government/audits/school-district/2014/09/19/elmira-heights-central-school-district-financial-condition-2014m-76Greenville Fire District – Investment Program (2023M-106)
… and money market accounts, which had average available funds for investing of $845,365. Had officials considered … safety, liquidity and yield - when investing available funds. District officials generally agreed with our …
https://www.osc.ny.gov/local-government/audits/fire-district/2023/12/29/greenville-fire-district-investment-program-2023m-106Village of Corinth – Investment Program (2023M-146)
… period, the Village earned $1,516 from money on deposit in the Village’s two checking accounts, which had an average … the Village may have earned an additional $148,755 in interest earnings. Village officials did not: Solicit …
https://www.osc.ny.gov/local-government/audits/village/2024/04/05/village-corinth-investment-program-2023m-146Hamilton Central School District – School Lunch Fund Financial Condition (2016M-136)
Hamilton Central School District School Lunch Fund Financial Condition 2016M136
https://www.osc.ny.gov/local-government/audits/school-district/2016/07/22/hamilton-central-school-district-school-lunch-fund-financial-conditionWest Seneca Central School District – Financial Condition (2014M-381)
… totaling $14.8 million. The District’s unexpended surplus funds declined from more than $4 million as of June 30, 2010 … Develop a realistic plan to accumulate unexpended surplus funds, within the legal limit, so that cash is available to …
https://www.osc.ny.gov/local-government/audits/school-district/2015/04/17/west-seneca-central-school-district-financial-condition-2014m-381Islip Union Free School District – Financial Condition (2013M-213)
… balance is maintained below the 4 percent cap required by law. Key Recommendation There are no recommendations for this …
https://www.osc.ny.gov/local-government/audits/school-district/2013/09/27/islip-union-free-school-district-financial-condition-2013m-213Garrison Union Free School District – Financial Condition (2016M-108)
… officials retained excessive balances in four reserve funds. Key Recommendations Adopt budgets with realistic … a manner than benefits District residents. Review reserve funds to determine if the amounts reserved are justified, …
https://www.osc.ny.gov/local-government/audits/school-district/2016/07/01/garrison-union-free-school-district-financial-condition-2016m-108North Rose-Wolcott Central School District – Financial Management (2016M-22)
… details the appropriate and necessary levels for reserve funds and prescribes how the reserve fund balances are to be … addresses the purpose, accumulation and use of reserve funds. Develop and adopt a sustainable multiyear financial …
https://www.osc.ny.gov/local-government/audits/school-district/2016/06/10/north-rose-wolcott-central-school-district-financial-management-2016m-22Opinion 88-74
… bear on the issues discussed in the opinion. MUNICIPAL FUNDS -- Appropriations and Expenditures (contributions to … with pertinent statutory requirements, contribute public funds to a veterans memorial committee for the purpose of … "The governing board of such municipality may provide funds for the construction and maintenance of such memorial …
https://www.osc.ny.gov/legal-opinions/opinion-88-74Update on New York’s Unemployment Insurance Trust Fund: Challenges Continue
… claims are part of the safety net, and are financed with federal and state payroll taxes collected from employers. As … 2021 report , New York’s UI fund did not have sufficient funds to pay the surging claims, and began to borrow from the federal government starting in May 2020. While many states …
https://www.osc.ny.gov/reports/update-new-yorks-unemployment-insurance-trust-fund-challenges-continueDiNapoli: NYC Pre-K Special Education Provider Claimed Nearly $3 Million In Ineligible Expenses
… Center, claimed nearly $3 million in ineligible expenses for reimbursement, according to an audit released today by … these cannot be reimbursed by the state’s SEIT program. To qualify for reimbursement, expenses have to meet SED’s … the employee’s division of labor must be documented to qualify for reimbursement. Over a three-year period ending …
https://www.osc.ny.gov/press/releases/2016/01/dinapoli-nyc-pre-k-special-education-provider-claimed-nearly-3-million-ineligible-expenses