Audit Cites Poor Record-Keeping In Canton Village Finances
The state comptroller's office says elected officials in the village of Canton need to take a more active role in overseeing the municipality's finances.
Auditors for Comptroller Thomas DiNapoli reviewed the villages finances for the 2010-2011 fiscal year and concluded that the village board "needs to improve its oversight of the village financial activities."
The report also blamed the clerk-treasurer, the village's chief financial officer, for not maintaining accurate accounting records and reports.
Poor record-keeping, the report said, "impaired the board’s ability to monitor financial operations."
The report noted that the mayor reviewed all bank statements and canceled checks, but added that the board did not ensure that timely bank reconciliations were performed.
Auditors reported that as of the end of the fiscal year, it had been more than two years since either of the village's two main bank accounts had been reconciled.
The report also noted that the last two annual reports of the village's finances were for 2008 and 2009, both of which were filed in 2011.
Auditors said the village board needs to have procedures to make sure reports are filed on time.
See the auditors' report.
See the comptroller's news release.