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Town of Lysander CPA financial review ‘very good’

David Moynihan, a partner with Testone, Marshall & Discenza CPAs, said the town of Lysander does an overall good job with its financial reporting. Moynihan presented the results of a financial review to the Lysander Town Board at its June 10 regular meeting.

The board hired the accounting firm to review its processes from a financial reporting standpoint shortly after the newly elected officials began to serve in January 2012; the town board had a new supervisor as well as three out of four new councilors.

“Whenever there is such a major change, it is good business to have an audit or review so that the new board has a clean slate from which to start,” said Supervisor John Salisbury. New York state was already performing a review for the period between January 2010 and October 2011 but was not complete but for three specific areas – it had done a risk assessment on each department to determine the extent the review should take. “We felt that it was important to have a review of procedures and areas not covered in the NYS audit.”

During the presentation, Moynihan said that like many other towns, Lysander, too, suffers from similar problems of having “probably too small a staff.”

“In the ideal world, there would be optimal segregation of duties every step of the way ...,” he said. “And you definitely have some of those same issues, but at the same time I found, overall your financial reporting mechanisms to be very good. It’s not that we didn’t have recommendations, things we think you want to consider. We’ve gone over them with your supervisor, we’ve gone over them with your comptroller. They agree there are a number of things they are looking to implement. But there are a number of places I go that have far more issues than the town of Lysander from a financial reporting standpoint.”

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