Wednesday, January 29, 2014

Comptroller Stringer Announces Comprehensive Fiscal Audits of NYC’s Public Library Systems

Three Audits, Beginning with the Queens Borough Public Library

New York City Comptroller Scott M. Stringer announced today he will conduct comprehensive audits of New York City’s three library systems. Stringer officially commenced the series of audits by sending an audit engagement letter yesterday to Thomas W. Galante, President and CEO of the Queens Borough Public Library.
“Our public libraries are vital resources for New Yorkers and taxpayers deserve to know that public money is being used appropriately,” Stringer said. “My auditors will assess whether the spending practices of our library systems follow applicable rules and prudent business practices.  We want our libraries to maximize the value of the public funds they receive while finding ways that they can be more efficient and effective from top to bottom.”
The planned audits will examine a broad range of fiscal controls at the Queens Borough Public Library, New York Public Library (which serves Manhattan, The Bronx and Staten Island), and the Brooklyn Public Library including scrutiny of spending practices, executive pay and compensation. Auditors will also look at funding of capital improvements, the use of city tax levy funds as well as the oversight role of the library systems’ individual boards of trustees.
To read the Comptroller’s audit engagement letter, click here.

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