CANTON The New York State Comptrollers Office cited the Village of Canton for inadequate accounting practices Wednesday.
In a June 2010 to May 2011 audit of the villages records, the office found deficiencies in Cantons record keeping and reporting practices, making it difficult for the audit to determine whether trustees were able to effectively monitor its fund balances during that period.
The report claims that fund balances, if recorded, could have been used to alleviate the tax burden on village residents.
According to the report, the village clerk-treasurer did not maintain accurate computerized accounting records and reports, which impaired the boards ability to monitor financial operations.
As of May 31, 2011, the villages two main bank accounts had not been reconciled for more than two years. Also, the board did not have procedures in place to ensure that required Annual Financial Reports were completed and filed in a timely manner.