Search
State Comptroller DiNapoli Releases School District Audits
… adopt realistic budgets and did not properly manage fund balance and reserves. The board and district officials … needed and resulted in the accumulation of surplus fund balance in excess of the statutory limit by $17.3 million or …
https://www.osc.ny.gov/press/releases/2022/03/state-comptroller-dinapoli-releases-school-district-auditsTown of Deerfield – Financial Management and Fuel Inventory (2012M-253)
… the Town's financial management and fuel inventory records for the period January 1, 2011, to July 31, 2012. Background … members governs the Town. The Town's budgeted expenditures for the 2012 fiscal year were approximately $823,000 for the general fund, $1.1 million for the highway fund, …
https://www.osc.ny.gov/local-government/audits/town/2013/03/15/town-deerfield-financial-management-and-fuel-inventory-2012m-253Comptroller DiNapoli Releases Municipal Audits
… our local communities is a top priority,” said DiNapoli. “By auditing municipal finances and operations, my office … visit OpenBookNY . The easy-to-use website was created by Comptroller DiNapoli to promote openness in government and …
https://www.osc.ny.gov/press/releases/2015/03/comptroller-dinapoli-releases-municipal-auditsNYS Comptroller DiNapoli Prohibits New Russian Investments and Directs Investment Review
… New York State Comptroller Thomas P. DiNapoli has directed staff to … further restrictions or divestment. He is also reaching out to the Fund’s investment managers to urge them to conduct … assets of the New York State and Local Retirement System on behalf of more than one million state and local government …
https://www.osc.ny.gov/press/releases/2022/03/nys-comptroller-dinapoli-prohibits-new-russian-investments-and-directs-investment-reviewIX.6.E Education Department - G5 System – IX. Federal Grants
… affecting their accounts. The G5 drawdown page contains a “Last Day to Draw” field that is strictly enforced by the … agencies from expending funds too close to the “Last Day to Draw” date. This prohibition is controlled by … in Commitment Control that is seven days prior to the “Last Day to Draw” date on G5.. Guide to Financial Operations …
https://www.osc.ny.gov/state-agencies/gfo/chapter-ix/ix6e-education-department-g5-systemCity of Amsterdam – Budget Review (B24-5-5)
… projections and other matters that should be reviewed by the Mayor and Council. City officials did not implement … Security and Medicare taxes have been underestimated by $65,874. The proposed budget allocates appropriations for …
https://www.osc.ny.gov/local-government/audits/city/2024/05/13/city-amsterdam-budget-review-b24-5-5NYS Common Retirement Fund Announces Second Quarter Results
… The New York State Common Retirement Fund's (Fund) overall return in the second quarter of the … State Common Retirement Fund is the third largest public pension fund in the United States. The Fund holds and invests …
https://www.osc.ny.gov/press/releases/2017/11/nys-common-retirement-fund-announces-second-quarter-resultsMattituck-Cutchogue Union Free School District – Financial Condition (2013M-322)
… stay within the year-end statutory limit for unrestricted funds, District officials transferred moneys to the … a policy or plan for accumulating and using reserves funds and District officials did not provide any calculations … used. District officials incorrectly reported the reserve funds’ cash balances as "unrestricted" rather than …
https://www.osc.ny.gov/local-government/audits/school-district/2014/01/24/mattituck-cutchogue-union-free-school-district-financial-condition-2013mSustainable Investments and Climate Solutions Program
… the Common Retirement Fund (CRF) to address climate risks and opportunities across all asset classes. A key component … plan is the creation of a formal Sustainable Investments and Climate Solutions (SICS) program, and an increase of the Fund’s total commitment to the program …
https://www.osc.ny.gov/common-retirement-fund/sustainable-investments-and-climate-solutions-programMerrick Union Free School District – Financial Condition (2016M-240)
… Purpose of Audit The purpose of our audit was to evaluate the District's financial … schools with approximately 1,480 students, is governed by an elected seven-member Board of Education. Budgeted … The Board adopted budgets that overestimated expenditures by a total of $9.3 million and underestimated revenues by a …
https://www.osc.ny.gov/local-government/audits/school-district/2016/10/07/merrick-union-free-school-district-financial-condition-2016m-240Town of Oyster Bay - Financial Condition Management (2020M-74)
… ] Audit Objective Determine whether the Town Board (Board) and Town officials effectively managed the Town’s financial condition. Key Findings The Board and Town officials need to continue to improve their management and oversight of the Town’s financial condition. Three of the …
https://www.osc.ny.gov/local-government/audits/town/2020/09/04/town-oyster-bay-financial-condition-management-2020m-74VIII.1.D Hybrid Journal Entries – VIII. Accounts Payable Journal Vouchers & General Ledger Journal Entries
… costs. Hybrid Journal Entries contain both expenditure and revenue account codes and are submitted in the General Ledger … As a general rule hybrid journal entries should not go between governmental funds: General Fund, Capital Funds, … one agency incurs an expense for another agency from one of their governmental funds, the transfer of expenses should …
https://www.osc.ny.gov/state-agencies/gfo/chapter-viii/viii1d-hybrid-journal-entriesBellmore-Merrick Central High School District – Financial Condition (2016M-341)
… six schools with approximately 5,500 students, is governed by an eight-member Board of Education appointed from the … Findings Because the District overestimated expenditures by $21.3 million for the 2012-13 through 2014-15 fiscal … limits. Ensure that reserve funds are established by resolution. … BellmoreMerrick Central High School District …
https://www.osc.ny.gov/local-government/audits/school-district/2016/11/18/bellmore-merrick-central-high-school-district-financial-condition-2016mTown of Gorham – Budgeting (2023M-181)
… did not develop and adopt realistic budgets, a financial plan or fund balance and reserve policies. As a result, the … levels and likely levied more taxes than necessary. From fiscal years 2020 through 2022, the Town-wide (TW) … accurate revenue and expenditure estimates. Develop a plan to reduce the amounts of excessive unrestricted fund …
https://www.osc.ny.gov/local-government/audits/town/2024/06/28/town-gorham-budgeting-2023m-181Town of Mooers - Cash Management (2020M-36)
… not develop and manage a comprehensive investment program to ensure interest earnings were maximized. Had the … funds are invested in a manner, within legal limits, to maximize interest earnings. Town officials generally … and have initiated, or indicated they planned to initiate corrective action. Appendix B includes our …
https://www.osc.ny.gov/local-government/audits/town/2020/06/05/town-mooers-cash-management-2020m-36XV.6.A Split Payroll – XV. End of Year
… charges to be used for the following fiscal year-end payroll allocation percentages. The programmed payroll allocation (split charge) will generally apply to all … Budget Reference 2024-25 Institutional April 3, 2025 80%/8 days 2024-25 20%/2 days 2025-26 Administrative …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xv/xv6a-split-payrollState Comptroller DiNapoli Adds $3 Billion to the State Pension Fund’s Sustainable Investment Program
… Thomas P. DiNapoli today announced a $3 billion increase to the New York State Common Retirement Fund’s (Fund) … including ExxonMobil and Duke Energy , to examine how goals of the Paris Agreement will impact their business, … DiNapoli has served on the Board of Directors since 2011. About the NYS Common Retirement Fund The New York State …
https://www.osc.ny.gov/press/releases/2018/12/state-comptroller-dinapoli-adds-3-billion-state-pension-funds-sustainable-investment-programFriendship Central School District – Fund Balance and Reserves (2022M-55)
… Board and District officials: Overestimated appropriations by a total of $2.3 million (8 percent) in the three fiscal … totaled $2.5 million, exceeding the statutory limit by 20 percentage points. The Board and District officials also overfunded one general fund reserve by $111,000. Key Recommendations Adopt budgets that include …
https://www.osc.ny.gov/local-government/audits/school-district/2022/07/22/friendship-central-school-district-fund-balance-and-reserves-2022m-55Village of Remsen – Clerk-Treasurer’s Records and Reports (2020M-119)
Determine whether the Village of Remsen Village ClerkTreasurer maintained adequate records and reports to allow the Board of Trustees Board to properly manage Village finances
https://www.osc.ny.gov/local-government/audits/village/2021/01/08/village-remsen-clerk-treasurers-records-and-reports-2020m-119Randolph Central School District - Financial Management (2019M-232)
… budgeted appropriations), exceeding the statutory limit by more than $2 million or 10 percentage points. The Board …
https://www.osc.ny.gov/local-government/audits/school-district/2020/03/06/randolph-central-school-district-financial-management-2019m-232