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Appendix A: Profile, Criteria and Resources Profile The Town is located in Erie County, and is governed by the elected Board, composed of the Supervisor and four Board members. The Board is responsible for overseeing the Town’s financial operations and safeguarding its resources. As the Town’s Chief Fiscal Officer (CFO) since 2018, the Supervisor is assisted by a part-time appointed bookkeeper who is responsible for recording cash receipts and disbursements, processing disbursement checks, and assisting the Supervisor with the preparation of monthly financial reports. Criteria – Transparency of Fiscal Activities Towns are governed by an elected town board, composed of a fixed number of elected board members and a town supervisor. With certain exceptions,4 a town board is required by Town Law Sections 62 and 123 to annually audit the town supervisor’s books and records. A town supervisor is a town’s Chief Executive Officer (CEO). Generally, a supervisor is also the town’s CFO and is responsible for maintaining the town’s financial records and reports. The accounting records should be up-to-date and should document assets, liabilities, fund balance and results of operations (revenues and expenditures) for each town fund. The town supervisor must maintain an accurate and complete accounting of all funds received and disbursed, and deposit town funds within 10 days of receipt, as required by Town Law Section 29. A town supervisor’s financial books and records, as per OSC guidance available in our LGMG publication Fiscal Oversight Responsibilities of the Governing Board, can include: • Cash receipt and disbursement transactions, • Deposit protections, • Cash reconciliations, • Indebtedness and property records, • Receivables, • Payrolls, and • Investment records, • Financial reports. Audits provide the town board with the opportunity to assess the effectiveness of financial operations and help ensure that adequate board oversight is maintained over town operations. An annual audit also provides an independent verification that transactions are properly recorded, that town funds 4 See Supra, footnote 1 Of f ic e of t he New York State Comptroller 7