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II.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. Standards are established in the following categories: Minimum … the State Finance Law prescribes the minimum reports that are required to be prepared on both a budgetary (cash) and …
https://www.osc.ny.gov/state-agencies/gfo/chapter-ii/ii4-overviewOvertime Compensation – Enhanced Reporting
… must be at a greater rate than one's regular rate of pay. For example: Overtime paid at time and a half, double … time or greater; Recall overtime; and Holiday premium pay for holidays worked.* As of July 1, 2019, public safety … be reported under the appropriate earnings code : Standby pay; Inconvenience pay; Location pay; and Straight pay for …
https://www.osc.ny.gov/retirement/employers/enhanced-reporting/overtime-compensationContract Advisory No. 29
… Subject : Electronic Documents Submission System (EDSS) Host Agency … of the State Comptroller's Bureau of Contracts (BOC) Electronic Documents Submission System (EDSS) has launched a … submit a New York State Office of the State Comptroller Electronic Documents Submission System (EDSS) Hosting Access …
https://www.osc.ny.gov/state-agencies/advisories/contract-advisory/29-electronic-documents-submission-system-edss-host-agencySlate Hill Fire District – Procurement and Claims Processing (2021M-105)
… report - pdf ] Audit Objective Determine whether the Slate Hill Fire District’s (District) Board ensured that goods and … Determine whether the Slate Hill Fire Districts District Board ensured that goods and …
https://www.osc.ny.gov/local-government/audits/fire-district/2021/12/29/slate-hill-fire-district-procurement-and-claims-processing-2021m-105Town of Hempstead – Budgeting (2021M-169)
… report - pdf ] Audit Objective Determine if the Town of Hempstead (Town) Board (Board) adopted realistic budgets … Determine if the Town of Hempstead Town Board Board adopted realistic budgets and …
https://www.osc.ny.gov/local-government/audits/town/2022/02/25/town-hempstead-budgeting-2021m-169Town of Owasco – Highway Department (2020M-128)
… [ read complete report - pdf ] Audit Objective Determine whether Town of Owasco (Town) …
https://www.osc.ny.gov/local-government/audits/town/2021/05/28/town-owasco-highway-department-2020m-128Washington County Local Development Corporation – Revolving Loan Program (2021M-57)
… approved and paid but lacked required documentation of a commercial loan denial letter. The Director did not … not verified. Key Recommendations Officials should: Ensure commercial loan denial letters are on file. Ensure businesses …
https://www.osc.ny.gov/local-government/audits/local-development-corporation/2021/07/30/washington-county-local-development-corporation-revolvingTown of Owasco – Financial Management and Procurement (2021M-70)
… district funds and has multiyear financial and capital plans. Determine whether professional services and playground … fund balance and reserve levels, establish multiyear plans or ensure the proper procurement of professional … district funds and has multiyear financial and capital plans …
https://www.osc.ny.gov/local-government/audits/town/2021/08/13/town-owasco-financial-management-and-procurement-2021m-70Town of Brookhaven Local Development Corporation – Project Approval and Monitoring (2021M-188)
… questioned whether setting goals was practical, and said it was not legally required, the Board should strive to …
https://www.osc.ny.gov/local-government/audits/town/2022/07/15/town-brookhaven-local-development-corporation-project-approval-and-monitoring-2021mLancaster Central School District – Financial Management (2022M-37)
… the Lancaster Central School District (District) Board of Education (Board) and District officials properly managed … budgetary appropriations by an annual average of $13 million (13 percent). Appropriated, on average, $2.8 million of fund balance that was not used. Did not use reserves in …
https://www.osc.ny.gov/local-government/audits/school-district/2022/08/05/lancaster-central-school-district-financial-management-2022m-37East Rochester Union Free School District – Procurement (2022M-56)
… Audit Objective Determine whether East Rochester Union Free School District (District) officials procured goods and … Determine whether East Rochester Union Free School District District officials procured goods and …
https://www.osc.ny.gov/local-government/audits/school-district/2022/08/05/east-rochester-union-free-school-district-procurement-2022m-56York Central School District – Financial Management (2022M-96)
… officials improperly restricted more than $690,000 in the debt reserve fund and did not transparently fund … fund balance statutory limit and use the excess funds in a manner more beneficial to taxpayers. Properly use and … Appendix B includes our comments on issues raised in the District’s response letter. …
https://www.osc.ny.gov/local-government/audits/school-district/2022/10/07/york-central-school-district-financial-management-2022m-96Herkimer County Industrial Development Agency – Project Approval and Monitoring (2022M-28)
… Board and officials properly approved and monitored projects. Key Findings The Board and officials did not properly approve and monitor projects. Therefore, the Board could not effectively evaluate projects or hold project owners accountable. The Board did …
https://www.osc.ny.gov/local-government/audits/industrial-development-agency/2022/07/01/herkimer-county-industrial-development-agency-projectNyack Parking Authority – Parking Ticket Operations (2020M-94)
… tickets. To increase collections, consider license plate readers, instituting civil action or amnesty programs …
https://www.osc.ny.gov/local-government/audits/public-authority/2020/11/20/nyack-parking-authority-parking-ticket-operations-2020m-94Cayuga County Soil and Water Conservation District – Financial Condition (2020M-91)
… Revenue and expenditure estimates were not based on prior years’ actual results or trends and did not contain …
https://www.osc.ny.gov/local-government/audits/county/2020/11/25/cayuga-county-soil-and-water-conservation-district-financial-condition-2020m-91East Rockaway Union Free School District – Extra-Classroom Activity Funds (2020M-85)
… Objective Determine whether extra-classroom activity (ECA) funds were properly accounted for, deposited timely and … disbursements were properly supported and for legitimate ECA purposes. Key Findings The ECA clubs did not maintain adequate records; therefore, we …
https://www.osc.ny.gov/local-government/audits/school-district/2021/01/15/east-rockaway-union-free-school-district-extra-classroom-activity-fundsVillage of Greene – Investment Program (2023M-112)
… period, the Village earned approximately $5,800 from money on deposit in the Village’s checking and savings accounts, … review the Village’s investment policy, as required by New York State General Municipal Law (GML) Section 39. Key Recommendations Develop written …
https://www.osc.ny.gov/local-government/audits/village/2023/12/01/village-greene-investment-program-2023m-112Hamilton Fulton Montgomery Board of Cooperative Educational Services – Investment Program (2023M-116)
… considered other available investment options, BOCES may have earned $448,000 in investment income, or $343,000 more … a competitive yield. Prepare monthly cash flow forecasts to monitor and estimate funds available for investment. Key … rate quotes and ensure available funds are invested to benefit BOCES operations. Consider all four objectives of …
https://www.osc.ny.gov/local-government/audits/boces/2023/12/22/hamilton-fulton-montgomery-board-cooperative-educational-services-investmentTown of Cobleskill – Budgeting (2023M-138)
… Adopt budgets that contain realistic estimates based on available current data and historical trends. Include fund …
https://www.osc.ny.gov/local-government/audits/town/2024/03/01/town-cobleskill-budgeting-2023m-138Clymer Central School District – Payroll (2023M-168)
… used incorrect pay rates or incorrect hours/days worked to calculate 16 employees’ pay. Paid five employees a total … Establish procedures for reviewing payroll to detect inaccurate pay rates and governing overtime … agreed with our findings and indicated that they plan to initiate corrective action. …
https://www.osc.ny.gov/local-government/audits/school-district/2024/03/22/clymer-central-school-district-payroll-2023m-168