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Examples from GASB Statement 34 - Statement of Net Assets
… copyright by the Governmental Accounting Standards Board, 401 Merritt 7, Norwalk, CT 06856 are reprinted by permission. …
https://www.osc.ny.gov/local-government/publications/examples-gasb-statement-34-statement-net-assetsBurnt Hills-Ballston Lake Youth Recreation Commission – Financial Activities (2017M-68)
… The Board should establish appropriate pay rates for all classes of employees. …
https://www.osc.ny.gov/local-government/audits/joint-activity/2017/10/06/burnt-hills-ballston-lake-youth-recreation-commission-financial-activitiesLake George Fire Company - Cash Receipts (2015M-216)
… $125,000. Key Findings Maintain detailed collection records and ensure that all collections are deposited timely … checks, monthly bank reconciliations and other financial records, including those of the Drill Team. Ensure that an … Treasurer’s and the Drill Team’s chief financial officer’s records is performed by the Department’s audit committee. …
https://www.osc.ny.gov/local-government/audits/fire-company-or-department/2015/12/18/lake-george-fire-company-cash-receipts-2015m-216Hamlin Fire Department – Internal Controls Over Financial Activity (2015M-13)
… Department is a not-for-profit corporation incorporated in 1929, located in the Town of Hamlin, Monroe County. The Department, which …
https://www.osc.ny.gov/local-government/audits/fire-company-or-department/2015/05/29/hamlin-fire-department-internal-controls-over-financialNorth Patchogue Fire District – Fuel Inventory and Cash Disbursements (2015M-81)
… Background The North Patchogue Fire District is located in the Town of Brookhaven, Suffolk County, and is a district … Key Findings District officials did not purchase fuel in the most economical manner. The District did not ensure …
https://www.osc.ny.gov/local-government/audits/fire-district/2015/07/17/north-patchogue-fire-district-fuel-inventory-and-cash-disbursements-2015mSherman Central School District – Claims Processing (2016M-352)
… District is located in the Towns of Chautauqua, Clymer, French Creek, Mina, North Harmony, Ripley, Sherman and …
https://www.osc.ny.gov/local-government/audits/school-district/2016/12/16/sherman-central-school-district-claims-processing-2016m-352Yonkers City School District – Fixed Assets (2015M-229)
… not be located, nine could not be located on an asset list and 20 that were recorded as disposed of did not have … assets valued at $500 or greater for insurance purposes and $5,000 or greater for inventory and depreciation purposes have tags affixed to them, locate …
https://www.osc.ny.gov/local-government/audits/school-district/2015/12/11/yonkers-city-school-district-fixed-assets-2015m-229Plattsburgh Housing Authority – Tenant Rents (2015M-260)
… Background The Plattsburgh Housing Authority is located in the City of Plattsburgh in Clinton County. The Authority, which provides low-income …
https://www.osc.ny.gov/local-government/audits/city/2016/01/29/plattsburgh-housing-authority-tenant-rents-2015m-260Westchester County Department of Social Services - Contract Monitoring (2018M-35)
… The contract agreement with this agency did not have clear guidelines for actions to take upon the agency’s … provided as required before authorizing payments. Include clear provisions in service agreements detailing required …
https://www.osc.ny.gov/local-government/audits/county/2018/05/18/westchester-county-department-social-services-contract-monitoring-2018m-35Quogue Union Free School District – Financial Condition Management (2017M-196)
… officials effectively managed general fund balance for the period July 1, 2012 through June 30, 2017. Background … The Quogue Union Free School District is located in the Town of Southampton in Suffolk County. The District, … has approximately 110 students. Budgeted appropriations for the 2017-18 fiscal year total $8.1 million. Key Findings …
https://www.osc.ny.gov/local-government/audits/school-district/2017/12/01/quogue-union-free-school-district-financial-condition-management-2017mWashingtonville Central School District – Reserve Funds (2014M-45)
… Findings The District has not implemented its reserve fund policy for the funding and use of reserves, and a detailed … all reserve funds has not been prepared. The Unemployment Insurance Reserve’s fund balance has not been used for … and submitted to the Board. Determine if the Unemployment Insurance Reserve’s fund balance is reasonable and use any …
https://www.osc.ny.gov/local-government/audits/school-district/2014/06/06/washingtonville-central-school-district-reserve-funds-2014m-45West Islip Union Free School District – Payroll (2016M-78)
… Purpose of Audit The purpose of our audit was to examine the District’s payroll process for the period July … all aspects of payroll transactions. If it is impractical to adequately segregate the payroll clerks’ duties, District …
https://www.osc.ny.gov/local-government/audits/school-district/2016/05/27/west-islip-union-free-school-district-payroll-2016m-78Geneva Housing Authority – Cash Receipts (2015M-160)
… Purpose of Audit The purpose of our audit was to evaluate the Authority’s cash receipts … The Geneva Housing Authority is located in the City of Geneva, Ontario County. The Authority, which maintains 247 …
https://www.osc.ny.gov/local-government/audits/public-authority/2015/11/13/geneva-housing-authority-cash-receipts-2015m-160Center Moriches Union Free School District – Medicaid Reimbursements (2017M-174)
… services are provided by, or under the supervision of, a licensed therapist as required for Medicaid reimbursement. …
https://www.osc.ny.gov/local-government/audits/school-district/2017/12/22/center-moriches-union-free-school-district-medicaid-reimbursements-2017mAloma D. Johnson Charter School – Leave Accruals (2017M-218)
… totaled approximately $3.9 million. Key Findings Sign-in and sign-out sheets did not agree with leave request forms, … leave balances recorded in the employee leave records and found that 12 of these employees’ leave carryover amounts … were overstated by 47 days. Key Recommendations Develop and adopt a comprehensive system of controls over leave time …
https://www.osc.ny.gov/local-government/audits/charter-school/2017/12/29/aloma-d-johnson-charter-school-leave-accruals-2017m-218Western New York Maritime Charter School – Financial Operations (2015M-124)
… of Audit The purpose of our audit was to examine the School’s student enrollment and billing processes and … 1, 2013 through March 27, 2015. Background The Western New York Maritime Charter School, which is located in the City of Buffalo, is a public … Western New York Maritime Charter School Financial Operations 2015M124 …
https://www.osc.ny.gov/local-government/audits/charter-school/2015/10/02/western-new-york-maritime-charter-school-financial-operations-2015m-124South Farmingdale Fire District - Financial Condition and Leave Benefits (2018M-29)
… report - pdf] Audit Objective Determine if the Board of Fire Commissioners (Board) ensured that fund balance was … Board ensured that leave records were properly maintained and leave benefits were authorized. Key Findings As of December 31, 2016, the South Farmingdale Fire District’s (District) unrestricted fund balance totaled …
https://www.osc.ny.gov/local-government/audits/fire-district/2018/05/25/south-farmingdale-fire-district-financial-condition-and-leave-benefitsTown of Sharon – Fund Balance (2017M-271)
… The Town of Sharon is located in Schoharie County and has a population of approximately 1,800. The Town is … total approximately $916,500. Key Findings Town-wide (TW) and town-outside-village (TOV) fund balances grew by 28 and 79 percent, respectively, from 2014 through 2017. …
https://www.osc.ny.gov/local-government/audits/town/2018/03/21/town-sharon-fund-balance-2017m-271Town of Waterloo – Board Oversight (2017M-110)
… and procedures governing the financial operations of the water and sewer districts. The Board did not enter into … intermunicipal agreements with the Village of Waterloo for water and sewer services provided to the Town. Key … intermunicipal agreements are entered into with any municipality for which services are to be provided or shared. …
https://www.osc.ny.gov/local-government/audits/town/2017/12/01/town-waterloo-board-oversight-2017m-110Western Suffolk Board of Cooperative Educational Services – Budget Transfers and Confirming Purchase Orders (2016M-218)
… purpose of our audit was to review BOCES’ budget transfer and purchase order processes for the period July 1, 2014 … of 18 component school districts. Combined, BOCES and the component districts educate approximately 93,000 … 12 percent were made with confirming purchase orders, and none of these purchases were documented as an emergency …
https://www.osc.ny.gov/local-government/audits/boces/2016/09/30/western-suffolk-board-cooperative-educational-services-budget-transfers-and