State Comptroller audits Village of Riverside. See findings, how village is responding
Former and current Riverside Village clerk-treasurer’s records and reports did not prepare or maintain complete, accurate, timely accounting records, according to a recently completed New York State Comptroller’s audit.
As a result, the Riverside Village Board’s ability to make informed financial decisions was inhibited because the village’s true financial position was unknown, the audit found.
Riverside Village Mayor Rich Wagar noted that no funds were stolen by former or current clerk-treasurers, but instead funds were misplaced.
“I knew the Comptroller’s Office audit was not going to find any missing money,” Wagar said. “I was 99 percent sure of that. But mistakes were made, and we are working to correct that.”
A look at the Village of Riverside Municipal Building.
What the audit found
The audit found the clerk-treasurers did not record investment transactions and interfund transfers, improperly recorded receipts, disbursements and budget transfers, and did not record water and sewer adjustments.
In addition, the clerk-treasurer did not file the required Annual Financial Report for the last four fiscal years and the current AFR was overdue as of Aug. 9, 2024.
The clerk-treasurers also did not file payroll reports or remit withholdings timely to the Internal Revenue Service or the New York State Department of Taxation and Finance, which could result in fines and penalties.
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How the village is correcting mistakes
Wagar said the village has hired a municipal account professional to help train the clerk-treasurer how to correctly maintain accurate account records in line with state regulations.
The mayor said the audit helped the village realize some mistakes made by a former clerk.
“We went through an audit with the Comptroller’s office, and we are working to correct those faults,” Wagar said.
This article originally appeared on The Leader: What Comptroller’s audit found in Village of Riverside, response
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