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XVI.2 Financial Reporting Policies – XVI. Financial Reporting
… financial reports in accordance with GAAP. GASB Statements and Interpretations are the main sources for GAAP guidance. GASB Statements and Interpretations are periodically incorporated in the Codification of Governmental Accounting and Financial Reporting Standards (GASB Codification). …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xvi/xvi2-financial-reporting-policiesXII.6.D Paying a Single Payment Vendor – XII. Expenditures
… SECTION OVERVIEW AND POLICIES This section informs agencies how to make a payment to a single payment vendor in the … Single Payment Vendor ID of this Guide for instructions on how to obtain a single payment vendor ID. Refer to Section 5 … and Submittal of this Chapter for instructions on how to submit a regular voucher. Agencies should enter vendor …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xii/xii6d-paying-single-payment-vendorVillage of Sherman – Treasurer’s Cash Receipts (2019M-39)
… and reports. Key Recommendations Take appropriate action to recover the missing funds. Develop written policies and …
https://www.osc.ny.gov/local-government/audits/village/2022/04/22/village-sherman-treasurers-cash-receipts-2019m-39X.3.A Agency Vendor Registration – X. Guide to Vendor/Customer Management
… individuals or entities in the Statewide Vendor File add a significant number of vendors at one time resolve various … for any individual or entity not already registered as a New York State Vendor using the New York State Substitute … penalties due to 1099 reporting errors, as required by the Code of Federal Regulations (CFR) section 301.6724-1. …
https://www.osc.ny.gov/state-agencies/gfo/chapter-x/x3a-agency-vendor-registrationIX.6.F Agency Draw Procedures – IX. Federal Grants
… the impact that disbursements have on the State’s checking account cash balance. When a disbursement is made, the cash in the checking account is decreased as soon as the related ACH is …
https://www.osc.ny.gov/state-agencies/gfo/chapter-ix/ix6f-agency-draw-proceduresIslip Fire District – Disbursements (2020M-9)
… Key Findings The Board: Made an inappropriate payment for medical expenditures totaling $21,000. Approved payment for … inappropriately paid for medical expenditures. Ensure all gas and general credit card charges are sufficiently … the procurement policy requirements and purchase order system. District officials disagreed with certain findings in …
https://www.osc.ny.gov/local-government/audits/fire-district/2021/02/05/islip-fire-district-disbursements-2020m-9State Comptroller DiNapoli Statement on Proposed SEC Rule Changes
… "The SEC's proposals are two of the most significant actions to restrict … and increase costs for investors. These proposals are contrary to the SEC's mission to protect investors and … The SECs proposals are two of the most significant actions to restrict …
https://www.osc.ny.gov/press/releases/2019/11/state-comptroller-dinapoli-statement-proposed-sec-rule-changesTown of Oneonta – Town Clerk (2021M-59)
… complete report - pdf ] Audit Objective Determine whether the Town of Oneonta (Town) Clerk properly recorded, deposited and remitted Clerk fees in a timely manner. Key Findings The … Determine whether the Town of Oneonta Town Clerk properly recorded deposited …
https://www.osc.ny.gov/local-government/audits/town/2021/07/02/town-oneonta-town-clerk-2021m-59Archived Publications
… reference purposes only. Fiscal Stress Monitoring System Results for Municipalities: Four-Year Review, 2013-2016 - 9/27/2017 Fiscal Stress Monitoring System Results for School Districts: Four-Year Review - 1/25/2017 Fiscal Stress Monitoring System Results for Municipalities: Three-Year Review - 9/27/2016 …
https://www.osc.ny.gov/local-government/fiscal-monitoring/archived-publicationsTown of Pharsalia – Board Oversight (2018M-59)
… the former Supervisor was arrested in 2019 on charges of Grand Larceny in the second degree, Scheme to … State prison. Key Recommendations Disburse Town money only after proper Board authorization. Perform a thorough annual …
https://www.osc.ny.gov/local-government/audits/town/2021/11/24/town-pharsalia-board-oversight-2018m-59II.4 New York State Financial Accounting – II. New York State Financial Accounting
… New York State Financial Accounting standards are used in the …
https://www.osc.ny.gov/state-agencies/gfo/chapter-ii/ii4-new-york-state-financial-accountingIX.8.B Interest on Advance Payments to Vendors – IX. Federal Grants
… In some instances, payments are made to vendors, including sub-recipients, before the vendors have … the funds, the agency should require the funds be returned to the State. In such instances the agency should calculate … than $25, agencies should require that amount be paid to the State. Once the interest payment is received, it …
https://www.osc.ny.gov/state-agencies/gfo/chapter-ix/ix8b-interest-advance-payments-vendorsChautauqua Lake Central School District – Procurement (2024M-3)
… Central School District (District) officials procured fuel in compliance with the District’s procurement policies. Key Findings District officials did not procure fuel in compliance with the District’s policies. When District … made to ensure charges were appropriate, resulting in approximately $2,200 in overpayments. Key …
https://www.osc.ny.gov/local-government/audits/school-district/2024/06/07/chautauqua-lake-central-school-district-procurement-2024m-3DiNapoli: New Yorkers’ Debt on the Rise
… for $869.4 billion, or 5.6%, of the national total, ranking New York fourth in the nation after California, Texas …
https://www.osc.ny.gov/press/releases/2022/09/dinapoli-new-yorkers-debt-riseXI.14.A Publication of Procurement Opportunities – XI. Procurement and Contract Management
… Newsletter," is intended to ensure the integrity of the state procurement process by providing for regular, centralized public notice of state agency and public authority intentions to … not-for-profit agency for the blind; Office of Mental Health approved special employment program serving mentally …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xi/xi14a-publication-procurement-opportunitiesII.4 Overview – II. New York State Financial Accounting
New York State Financial Accounting standards are used in the EXECUTE and EVALUATE phases of the financial cycle
https://www.osc.ny.gov/state-agencies/gfo/chapter-ii/ii4-overviewAmani Public Charter School – Purchasing and Claims Approval (2025M-11)
… Determine whether the Amani Public Charter School School officials procured goods and services in …
https://www.osc.ny.gov/local-government/audits/charter-school/2025/06/06/amani-public-charter-school-purchasing-and-claims-approval-2025m-11Town of Summit – Town Clerk (2024M-51)
… Objective Determine whether the Town of Summit (Town) Clerk properly recorded, deposited and remitted clerk fees in timely manner. Key Findings Although fees were … Determine whether the Town of Summit Town Clerk properly recorded deposited and remitted clerk fees in …
https://www.osc.ny.gov/local-government/audits/town/2024/08/16/town-summit-town-clerk-2024m-51Village of Sloan – Clerk-Treasurer (2024M-109)
… and reported financial transactions accurately and in a timely manner. Key Findings Although the … accurately, transactions were not always recorded in a timely manner. The Clerk-Treasurer also did not provide … to ensure transactions were recorded accurately and in a timely manner. The Board did not annually audit the …
https://www.osc.ny.gov/local-government/audits/village/2024/11/15/village-sloan-clerk-treasurer-2024m-109Village of Earlville – Collections (2024M-128)
… timely deposits, the Village has an increased risk that funds could be lost or misappropriated without detection. …
https://www.osc.ny.gov/local-government/audits/village/2025/01/10/village-earlville-collections-2024m-128