Auditor General DePasquale says Audit Helps Recover $80,814 for Emergency Service Efforts in Coal Township
Northumberland County VFRA did not know dormant investment fund was held by Treasury
Auditor General DePasquale says Audit Helps Recover $80,814 for Emergency Service Efforts in Coal Township
Northumberland County VFRA did not know dormant investment fund was held by Treasury
HARRISBURG (April 10, 2018) – Auditor General Eugene DePasquale said he hopes a recent audit discovery helps recover $80,814 for volunteer firefighting efforts in Coal Township, Northumberland County.
His recent audit of the Coal Township Volunteer Firemen’s Relief Association discovered an $80,814 trust fund, dedicated to emergency service protection, was dormant from a lack of use and reported to the Pennsylvania Department of Treasury.
DePasquale said he has contacted the unclaimed property division of the Pennsylvania Treasury to initiate processing of the payment to Coal Township VFRA.
“Thanks to our discovery, the money can be returned to the community and used as intended — to help volunteer firefighters protect and save lives. This money can surely help provide vital life-saving equipment and valuable training,” he said.
The audit examined VFRA activity from Jan. 1, 2014 to Dec. 31, 2016. There were three findings, including: failure to monitor investment activity, noncompliance with prior audit recommendations for insufficient bond coverage and failure to obtain a Pennsylvania sales tax exemption number.
VFRA management agreed with all findings.
The audit recommended increasing bond coverage from $300,000 to an amount greater than the total cash assets of $371,352 and for the VFRA to obtain a sales tax exemption number. The audit noted that because it didn’t obtain a sales tax exemption number, the VFRA paid a total of $1,615 in sales tax since 2011.
The audit recommended stronger internal controls to better monitor investment activity.
In 2016, DePasquale identified a $73,196 dormant account that belonged to the Radnor Township VFRA in Delaware County.
“We conduct audits to make sure every penny is accounted for and used appropriately,” DePasquale said. “Identifying dormant accounts that belong to local VFRAs can make a huge difference to first responders and to the community.”
The Coal Township Volunteer Firemen’s Relief Association audit report is available online at: www.PaAuditor.gov.
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