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it appears that they had adequate time to communicate accurate information to the engineer and bond counsel. Additionally, if detailed itemized reports were prepared, Town officials may have been able to identify and correct such reporting errors. The other two grants totaling approximately $594,000 were received on April 30, 2018, and two grants, totaling approximately $592,000, were still outstanding at the end of our audit fieldwork. When inaccurate costs are included in project estimates, there is an increased risk that the Board may issue more debt than necessary. In addition, there is risk the additional funding may be used for costs that were not in the original project scope. The Board and Town officials did not properly plan and manage the capital project and clearly inform taxpayers when the estimated cost and scope of the project changed. Had the Board provided more detailed and accurate budgetary information and better explained how the financing sources would be used, taxpayers would have been in a better position to make more informed decisions. What Do We Recommend? The Board should: 1. Prepare and approve an itemized budget and amend and update it as the project plan changes. 2. Ensure all Board action and proceedings are recorded in the official Board minutes to ensure transparency to taxpayers. 3. Ensure accurate cost estimate schedules or budgets are available in connection with the bond resolution. The Supervisor should: 4. Ensure complete and accurate accounting records are maintained and provide the Board with monthly reports comparing actual revenues and expenditures to budgeted amounts. Of f ic e of t he New York State Comptroller 7