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Censure for Waterford

By Lombardo David
Wednesday, October 10, 2012

The village of Waterford Local Development Corporation is being reprimanded for not meeting accountability and disclosure requirements from the state.

The New York State Authorities Budget Office officially censured the development corporation in a letter Oct. 2, which was sent to Mayor J. Bert Mahoney, who also chairs the corporation. The reprimand comes after the corporation failed to file audit reports for 2010, 2011 and 2012 and didn't file annual reports for 2011 and 2012.

"This letter of censure is the result of the board’s collective failure to take appropriate corrective action when the authority was previously warned that it was out of compliance," wrote state Authorities Budget Office Director David Kidera. A copy of the letter is available below.

According to his letter, the corporation was notified in August of its repeated failures, which are a violation of the Public Authorities Law. The corporation responded on Sept. 4 that it was in compliance with its duties, but Kidera said a few days later this wasn't correct and that it had until Oct. 1 to correct the problem. "As of October 1, 2012 the Village of Waterford Local Development Corporation remains out of compliance with the public disclosure, reporting and corporate governance provisions of Public Authorities Law." Kidera wrote in his censure letter.

A full version of this story will appear in the Daily Gazette on Thursday.

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Waterford Village Ldc October 2012 Censure Letter

 
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