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GASB Statement No. 33 "Accounting and Financial Reporting for Nonexchange Transactions"
… County, City, Town and Village Chief Fiscal Officers GASB Statement No. 33 provides accounting and reporting guidelines … between services provided and supporting revenues. The statement describes four categories of nonexchange … The purpose of this bulletin is to discuss the Statement No. 33 impact on revenue recognition when using the …
https://www.osc.ny.gov/local-government/publications/gasb-statement-no-33-accounting-and-financial-reporting-nonexchange-transactionsVillage of Suffern – Budget Review (B18-6-4)
… was to determine whether the significant revenue and expenditure projections in the Village’s tentative budget for … are outstanding. Key Findings Significant revenue and expenditure projections in the tentative budget are … 8 percent over the last five years. Therefore, the health insurance cost are underestimated by $100,000 in the 2018-19 …
https://www.osc.ny.gov/local-government/audits/village/2018/04/13/village-suffern-budget-review-b18-6-4Comptroller DiNapoli Releases School Audits
… announced his office completed audits of the East Islip Union Free School District , Elizabethtown-Lewis Central School District , George Junior Republic Union Free School District and the Otsego Northern Catskills … is being spent appropriately and effectively.” East Islip Union Free School District – Financial Condition (Suffolk …
https://www.osc.ny.gov/press/releases/2016/02/comptroller-dinapoli-releases-school-auditsFillmore Central School District – Reserve Funds (2016M-386)
… was to evaluate the District’s reservation of fund balance for the period July 1, 2013 through September 12, 2016. … five-member Board of Education. Budgeted appropriations for the 2016-17 fiscal year total approximately $14.8 … used toward debt service payments. The District’s 2015-16 report on reserves did not include the dates the reserves …
https://www.osc.ny.gov/local-government/audits/school-district/2017/01/06/fillmore-central-school-district-reserve-funds-2016m-386Town of Schaghticoke – Budgeting (2013M-239)
… 30, 2013. Background The Town of Schaghticoke is located in Rensselaer County and has 7,679 residents. The Town is … As a result, unexpended surplus funds declined in the town-wide general fund, two water district funds and … and user rates stable. However, this practice resulted in budgets that were not structurally balanced because they …
https://www.osc.ny.gov/local-government/audits/town/2013/12/06/town-schaghticoke-budgeting-2013m-239Town of Rhinebeck – Internal Controls Over Cash Management and Information Technology (2013M-36)
… Purpose of Audit The purpose of our audit was to examine internal controls over selected financial and operational areas for the period January 1, 2011, to June 22, 2012. Background The Town of Rhinebeck is located … million, respectively. Key Findings Town officials need to improve internal controls over cash management. Although …
https://www.osc.ny.gov/local-government/audits/town/2013/05/17/town-rhinebeck-internal-controls-over-cash-management-and-information-technologyCity of Yonkers – Budget Review (B18-6-7)
… the City of Yonkers’ financial condition in the current and future years. Key Findings The 2018-19 budget relies on … revenue of $59.2 million, such as fund balance and State aid, to balance its budget. Police overtime costs … appropriation at a level to provide flexibility to deal with unanticipated or insufficient appropriations. …
https://www.osc.ny.gov/local-government/audits/city/2018/07/30/city-yonkers-budget-review-b18-6-7Rush-Henrietta Central School District – Financial Management and Separation Payments (2016M-49)
… The Board did not adopt realistic budgets based on historical or known trends. Two of the District’s six general fund reserves, … for revenues, expenditures and fund balance use based on historical trends and other identified analysis. Review the …
https://www.osc.ny.gov/local-government/audits/school-district/2016/06/17/rush-henrietta-central-school-district-financial-management-andWarwick Valley Central School District – Potential Operational Efficiencies (2012M-245)
… operations to determine whether there were opportunities for cost savings for the period July 1, 2010, through June 5, 2012. Background … comprises seven elected members. Budgeted expenditures for the 2010-11 and the 2011-12 fiscal years were …
https://www.osc.ny.gov/local-government/audits/school-district/2013/05/31/warwick-valley-central-school-district-potential-operational-efficienciesSouthold Union Free School District – Claims Processing (2013M-183)
… of our audit was to examine the claims auditing process for the period July 1, 2011, to April 30, 2013. Background … The Southold Union Free School District is located in the Town of Southold, Suffolk County. The District is … comprises five elected members. Appropriations budgeted for the 2012-13 fiscal year were approximately $27 million, …
https://www.osc.ny.gov/local-government/audits/school-district/2013/08/23/southold-union-free-school-district-claims-processing-2013m-183City of Glen Cove– Budget Review (B7-13-16)
… Purpose of Audit The purpose of our budget review was to determine whether the significant revenue and expenditure … in Nassau County, issued debt totaling $12.8 million to liquidate various accumulated fund deficits for the fiscal … requires all local governments that have been authorized to issue obligations to fund operating deficits to submit …
https://www.osc.ny.gov/local-government/audits/city/2013/10/16/city-glen-cove-budget-review-b7-13-16City of Yonkers – Budget Review (B6-14-14) - Revised
… for recurring expenditures. Revenue estimates for sales tax may be optimistic. The budget includes $5.3 million in … 1, 2014. The City continues to rely on debt to pay for tax certiorari settlements, incurring debt and interest … to offset nonrecurring revenues. Monitor sales tax revenues throughout the year and take prompt action to …
https://www.osc.ny.gov/local-government/audits/city/2014/07/03/city-yonkers-budget-review-b6-14-14-revisedNew York State Comptroller Thomas P. DiNapoli On Governor Cuomo's 2014 State Of The State Address
… closely aligned with revenue. However, more work remains to achieve structure balance. In this current fiscal year, my … office identified almost $5 billion in temporary resources to support state spending. It is also time to tackle … of statewide elections. Now, more than ever, we need to tip the scales of influence away from the few and put it back …
https://www.osc.ny.gov/press/releases/2014/01/new-york-state-comptroller-thomas-p-dinapoli-governor-cuomos-2014-state-state-addressHunter-Tannersville Central School District – Financial Condition (2013M-376)
… Purpose of Audit The purpose of our audit was to assess the School District’s financial condition for the … planned operating deficits and appropriating fund balance to finance the planned deficits. The continued appropriation … balance will deplete it, and District officials will have to identify other revenue sources to fund future budgets. The …
https://www.osc.ny.gov/local-government/audits/school-district/2014/03/21/hunter-tannersville-central-school-district-financial-condition-2013m-376Town of Geneseo – Information Technology and Multiyear Planning (2017M-84)
Town of Geneseo Information Technology and Multiyear Planning 2017M84
https://www.osc.ny.gov/local-government/audits/town/2017/11/21/town-geneseo-information-technology-and-multiyear-planning-2017m-84Village of East Hampton – Information Technology (2015M-187)
… provided excessive access right to the financial and real property tax software. The Board has not adopted a … and the Clerk has supervisor-level access to the real property tax software. Key Recommendations Adopt policies and … should be periodically tested and updated. Designate an administrator who does not perform or monitor financial or …
https://www.osc.ny.gov/local-government/audits/village/2015/11/06/village-east-hampton-information-technology-2015m-187New York State Comptroller DiNapoli Statement on New York City's Adopted Budget
… New York City’s adopted $98.7 billion FY 2022 budget, … deposit into the Rainy Day Fund, a first of its kind. “New York City’s economy is bouncing back. Federal funding has … pay for ongoing spending commitments. Going forward, the new mayor and city council should look to further boost …
https://www.osc.ny.gov/press/releases/2021/06/new-york-state-comptroller-dinapoli-statement-new-york-citys-adopted-budgetVillage of Lewiston – Purchasing (2013M-45)
… Twenty-one of the 36 claims did not comply with GML or the quote requirement of the Village’s procurement policy. Key …
https://www.osc.ny.gov/local-government/audits/village/2013/05/03/village-lewiston-purchasing-2013m-45Ticonderoga Central School District – Financial Condition (2013M-154)
… Purpose of Audit The purpose of our audit was to evaluate the District’s financial condition for the period … the District has struggled with fiscal challenges due to a deteriorating financial condition. We found that the … and an unexpended surplus fund balance of $384,362. To meet short-term cash flow needs, the District borrowed …
https://www.osc.ny.gov/local-government/audits/school-district/2013/08/30/ticonderoga-central-school-district-financial-condition-2013m-154Valley Stream Thirteen Union Free School District – Purchasing (2016M-204)
… 1, 2014 through December 31, 2015. Background The Valley Stream Thirteen Union Free School District is located in the Village of Valley Stream, Nassau County. The District, which operates four … Valley Stream Thirteen Union Free School District Purchasing 2016M204 …
https://www.osc.ny.gov/local-government/audits/school-district/2016/08/05/valley-stream-thirteen-union-free-school-district-purchasing-2016m-204