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XII.9.F Correcting Payments Processed Against the Incorrect Purchase Order – XII. Expenditures
… OVERVIEW AND POLICIES The purpose of this section is to provide guidance to Business Units related to the process for correcting payments processed against the wrong purchase order when funds are still active. Paying against … The purpose of this section is to provide guidance to Business Units related to the process …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xii/xii9f-correcting-payments-processed-against-incorrect-purchase-orderEducators for Children, Youth and Families, Inc. – Use of Contract Funds (Follow-Up)
… period July 1, 2002 through June 4, 2008. New York State awards grants and contracts to non-profit community-based organizations that offer after-school …
https://www.osc.ny.gov/state-agencies/audits/2013/08/13/educators-children-youth-and-families-inc-use-contract-funds-followTown of Reading – Financial Management (2013M-217)
… 115 percent in the general fund and 93 percent in the highway fund for the ensuing year’s appropriations. The Town … Board decided to transfer an additional $55,000 from the highway town-wide fund to the capital project fund and the Board appropriated $30,000 of non-existent highway town-wide fund balance in its 2013 budget to help pay …
https://www.osc.ny.gov/local-government/audits/town/2014/02/21/town-reading-financial-management-2013m-217Town of Hopewell – Fund Balance and Budget Monitoring (2013M-231)
… million. Key Findings The Board did not adopt a policy or develop procedures to govern the level of fund balance to … The Board did not develop accurate budget estimates or a formal, comprehensive multiyear financial and capital … the Town’s 2013 budget to exceed the tax cap by $25,403, or approximately 5 percent. Key Recommendations Adopt a …
https://www.osc.ny.gov/local-government/audits/town/2014/01/10/town-hopewell-fund-balance-and-budget-monitoring-2013m-231NYS Common Retirement Fund Announces Second Quarter Results
… The New York State Common Retirement Fund’s (Fund) overall return in the … quarter of state fiscal year 2016-2017 was 3.51 percent for the three-month period ending Sept. 30, 2016, with an … The New York State Common Retirement Funds Fund overall return in the …
https://www.osc.ny.gov/press/releases/2016/11/nys-common-retirement-fund-announces-second-quarter-resultsNYS Common Retirement Fund Reports Second Quarter Results
… State Common Retirement Fund’s (Fund) estimated return in the second quarter of the State Fiscal Year (SFY) 2021-22 … volatility brought returns down from their heights earlier in the year, but the Fund remains on a pace to generate solid … Sept. 30, 2021, the Fund had 52.14% of its assets invested in publicly traded equities. The remaining Fund assets by …
https://www.osc.ny.gov/press/releases/2021/11/nys-common-retirement-fund-reports-second-quarter-resultsDiNapoli Orders Divestment of Russia Holdings
… today announced that he has directed divestment from Russian companies and continued his prohibition of any … announced the Fund would freeze all new investments in Russian companies and review the Fund’s current holdings to … devastation and destruction to Ukraine,” DiNapoli said. “Russian President Putin’s violent and unpredictable foreign …
https://www.osc.ny.gov/press/releases/2022/03/dinapoli-orders-divestment-russia-holdingsNYS Common Retirement Fund Reports First Quarter Results
… quarter of the State Fiscal Year (SFY) 2021-22 was 5.82% for the three-month period ending June 30, 2021, according to … first quarter of the State Fiscal Year SFY 202122 was 582 for the threemonth period ending June 30 2021 according to …
https://www.osc.ny.gov/press/releases/2021/08/nys-common-retirement-fund-reports-first-quarter-resultsTown of Canajoharie – Budgeting and Allocating Sales Tax Revenue (2021M-204)
… report - pdf ] Audit Objective Determine whether Town of Canajoharie (Town) officials properly budget for and allocate sales tax revenue. Key Findings Town officials did not … Determine whether Town of Canajoharie Town officials properly budget for and allocate sales tax revenue …
https://www.osc.ny.gov/local-government/audits/town/2022/03/04/town-canajoharie-budgeting-and-allocating-sales-tax-revenue-2021m-204Village of Solvay – Financial Management (2023M-49)
… (Board) and officials monitored budgets and managed the electric fund’s financial condition. Key Findings The Board and Village … fund revenues kept pace with expenses. Ensure that annual payments from the electric fund to the general fund …
https://www.osc.ny.gov/local-government/audits/village/2023/07/14/village-solvay-financial-management-2023m-49Town of Plymouth – Board Oversight (2016M-190)
… Board. Budgeted appropriations for the general and highway funds for the 2016 fiscal year total approximately $1.24 … incompatible duties as she has the ability to disburse funds without anyone else’s knowledge. Key Recommendations … the risks associated with the disbursement of Town funds. …
https://www.osc.ny.gov/local-government/audits/town/2016/08/26/town-plymouth-board-oversight-2016m-190Town of Cincinnatus – Financial Operations (2016M-238)
… for the general, highway, water and lighting funds total $656,407 for 2016. Key Findings The Board has not … completed for the departments that received or disbursed funds. Key Recommendations Annually review and update the … Town officials and employees who receive or disburse Town funds are audited annually. …
https://www.osc.ny.gov/local-government/audits/town/2016/10/28/town-cincinnatus-financial-operations-2016m-238Village of East Rockaway – Justice Court Operations (2017M-206)
… and Court officials could not determine the source of the funds. The Court did not properly record and deposit $1,400 in funds received during the audit period. Key Recommendations … bail records to determine how to disburse the existing funds in the bail account. Review cash receipt documentation …
https://www.osc.ny.gov/local-government/audits/justice-court/2017/12/15/village-east-rockaway-justice-court-operations-2017m-206Sodus Central School District – Financial Management (2016M-392)
… plan detailing the appropriate and necessary levels for reserve funds and how they are to be monitored, analyzed and … that result in the appropriation of fund balance and reserve funds that will not be used. Adopt an adequate reserve plan which includes the District’s intentions for the …
https://www.osc.ny.gov/local-government/audits/school-district/2016/12/23/sodus-central-school-district-financial-management-2016m-392Schuylerville Central School District – Fund Balance (2016M-113)
… the District transferred more than $1.4 million in excess funds from the employee benefit accrued liability reserve … the District’s reserves or the future use of the reserve funds. Key Recommendations Ensure that the amount of the … Develop a plan for the future funding and use of reserve funds and ensure amounts reserved are reasonable. …
https://www.osc.ny.gov/local-government/audits/school-district/2016/07/08/schuylerville-central-school-district-fund-balance-2016m-113Pembroke Central School District – Financial Management (2016M-31)
… District, which operates three schools with approximately 975 students, is governed by an elected five-member Board of …
https://www.osc.ny.gov/local-government/audits/school-district/2016/06/10/pembroke-central-school-district-financial-management-2016m-31Hewlett-Woodmere Union Free School District – Financial Condition (2016M-402)
… the District’s financial condition for the period July 1, 2012 through May 31, 2016. Background The Hewlett-Woodmere Union Free School … District’s budgeted appropriations were overestimated by $31.1 million (10.4 percent) from 2012-13 through 2014-15. …
https://www.osc.ny.gov/local-government/audits/school-district/2017/01/27/hewlett-woodmere-union-free-school-district-financial-condition-2016m-402Cohoes City School District – Budgeting (2016M-111)
… not have a formal plan for funding reserves, determining how much should be accumulated and how and when the funds will be used. As of June 30, 2015, the …
https://www.osc.ny.gov/local-government/audits/school-district/2016/07/29/cohoes-city-school-district-budgeting-2016m-111New Hyde Park-Garden City Park Union Free School District – Financial Management (2014M-7)
… audit was to evaluate the District’s financial operations and use of fund balance for the period of July 1, 2011 … Free School District is located in the Towns of Hempstead and North Hempstead in Nassau County. The District operates four schools with approximately 1,615 students and is governed by an elected seven-member Board of …
https://www.osc.ny.gov/local-government/audits/school-district/2014/06/20/new-hyde-park-garden-city-park-union-free-school-district-financialVillage of Endicott – Budget Review (B4-16-7)
… Purpose of Budget Review The purpose of our budget review was to determine whether the significant … 2016-17 fiscal year are reasonable. Background The Village of Endicott, located in Broome County, issued debt totaling … Village of Endicott Budget Review B4167 …
https://www.osc.ny.gov/local-government/audits/village/2016/04/15/village-endicott-budget-review-b4-16-7