DiNapoli audit finds Amsterdam’s finances hampered by poor recordkeeping (US)

Officials in the city of Amsterdam are unable to properly assess and monitor the city’s financial condition due to inadequate, inaccurate and incomplete accounting records, according to an audit released today by State Comptroller Thomas P. DiNapoli.

DiNapoli’s auditors found Amsterdam officials lacked basic accounting records for the city’s cash, assets, outstanding debt and available fund balance. In addition, Amsterdam officials have not filed the city’s 2011-12 or 2012-13 annual financial reports with the Comptroller’s office, which they must do by state law.

Read more: Office of the New York State Comptroller, 3 January 2014