An audit from the New York State Comptroller’s Office alleges the Village of Weedsport’s Board of Trustees did not effectively manage its fund balance.
The audit, conducted between March 1, 2022, and June 6, 2025, found that the board “was not transparent with taxpayers and residents and levied more real property taxes than necessary to fund operations.” The audit also stated that the board maintained an unrestricted fund balance in the general fund and sewer fund, totalling $696,548 and $336,015, respectively. This represents 44% and 94% of the upcoming year’s budgets, respectively, at the end of the 2024-25 fiscal year.
The comptroller’s office included eight recommendations in its report to improve the village’s financial management. The office added that Weedsport officials generally agreed with the recommendations. The board will need to provide the comptroller’s office with a written corrective action plan.
Additionally, the audit alleges that the board maintained an insufficient unrestricted fund balance in its water fund “to finance operations and appropriated more fund balance than available in the 2024-25 and 2025-26 fiscal year budgets.” The board is also accused of not adopting “an adequate written fund balance policy or develop[ing] and adopt[ing] comprehensive, written, multiyear financial or capital plans, or a reserve policy,” something the comptroller’s office said would have assisted the board in developing and adopting realistic budgets and planning for the village’s future.
The comptroller’s office said a fund balance is “a key measure of a village’s financial condition,” adding that, as of February 28, 2025, Weedsport’s 15 reserve funds totalled $3.1 million. “Without an updated written fund balance policy, balanced budgets, and multiyear financial and capital plans, it is difficult for the Board to properly manage the Village’s fund balance,” meaning officials can’t assure that only the necessary taxes are raised.
The full report can be viewed on the comptroller’s website.
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