January 16, 2019
HOWARD, NY – State Comptroller Tom Dinapoli noted, in a recent audit, that the Howard Town Board’s management of fund balance “was not effective.”
Dinapoli stated that as a result, general and highway fund balances increased significantly over the 2015 through 2017 fiscal years. The Board did not adopt fund balance, reserve or budgeting policies or multiyear financial and capital plans.
Recommendations From The State Comptroller’s Office:
Periodically monitor adopted budgets and make necessary amendments and transfers as needed.
Establish budgeting, fund balance and reserve polices and develop multiyear financial and capital plans.
Use surplus funds as a financing source for funding one-time expenditures, needed reserves and/or reducing property taxes.
In his response to the State Comptroller’s Office, Howard Town Supervisor Don Evia said that the way they have been doing things, is putting funds into the Howard Town money market account, and transferring money from the money market account into the needed accounts, when it was necessary. Supervisor Evia noted that the Howard Town Board is planning to keep $50,000 in the general fund in order to meet potential needs.