ALBANY – The Town of Rosendale’s
financial accounting system was inadequate and accounting records were
inaccurate and incomplete, according to a state comptroller’s office
audit of the town for the period January 1, 2013 through April 3, 2014.
The audit also said accounting records did not support the amounts reported
to the Office of State Comptroller, including more than $850,000 in fund
balance variances.
The report said monthly bank reconciliations were not performed and the
town could not account for approximately 55 percent of its water.
Key recommendations by the state officials include ensuring that the accounting
system is adequate, that all financial transactions are accurately recorded
and that a general ledger is maintained; ensuring that all fund balance
variances are investigated and reconciled; ensuring that bank reconciliations,
including canceled check images, are reviewed; and investigating and correcting
reasons for unaccounted-for water, including inaccurate metering and significant
leaks.
In a written response to the report Town Supervisor Jeanne Walsh said
the town has “serious concerns regarding this report as we feel
the majority of it is inaccurate and incorrect.”
