FULTON N.Y. \u2014 The City of Fulton\u2019s financial records were not accurate or up to date, leaving the Common Council without reliable information about the city\u2019s financial condition, according to a new audit from the New York State Comptroller\u2019s Office.<\/p>\n
The audit, issued Sept. 18, examined the city\u2019s financial records from Jan. 1, 2024, through May 12, 2026. The state extended its review through July 9 to check the status of the city\u2019s required financial reports.<\/p>\n
Auditors found about $9.9 million in transactions that were not properly recorded or accounted for in the city\u2019s financial records.<\/p>\n
The audit also found that, as of May 2026, city officials had not reconciled any bank accounts since December 2022.<\/p>\n
In December 2024, 21 of the city\u2019s 22 bank accounts had differences between the cash recorded in the city\u2019s financial records and adjusted bank balances. Overall, the city\u2019s records showed about $1 million less cash than the adjusted bank balances, a 20% difference from the $5 million in adjusted bank balances.<\/p>\n
The former Clerk-Chamberlain also failed to complete or properly account for $5.3 million in transfers tied to 2024 collections and disbursements.<\/p>\n
Auditors identified other recording problems, including:<\/p>\n
$1.6 million in unrecorded retirement expenditures$1.8 million in collections that were not properly recorded$1.2 million in disbursements that were not properly recorded<\/p>\n
The Comptroller\u2019s Office issued 10 recommendations aimed at improving the city\u2019s financial recordkeeping and reporting. City officials agreed with the recommendations.<\/p>\n
The Common Council is responsible for initiating corrective action and must submit a written corrective action plan to the Comptroller\u2019s Office within 90 days.<\/p>\n","protected":false},"excerpt":{"rendered":"FULTON N.Y. \u2014 The City of Fulton\u2019s financial records were not accurate or up to date, leaving the…\n","protected":false},"author":2,"featured_media":355404,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[9,11,10,49,51,50],"class_list":["post-355403","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-new-york-state","tag-new-york-state-headlines","tag-new-york-state-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/355403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=355403"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/355403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/355404"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=355403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=355403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=355403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}