OXFORD – Years of missing and incomplete financial data have hampered Oxford town leaders’ ability to make sound financial decisions, according to a recent audit report from the New York State Comptroller’s Office.

The state report released last week questions the Oxford Town Board's handling of financial reports to effectively manage the town’s fiscal condition from 2019-2024, leading to the appropriation of $315,280 in funds that didn’t exist in the town budget.

The report also found that the board used $350,000 in revenue anticipation notes to solve cash flow issues, resulting in additional borrowing costs of $11,430. Consequently, the town began the 2024 financial year with a combined $206,600 deficit in its general and highway budgets.

The NYS Comptroller’s Office says the township didn’t have sufficient fund balance to appropriate in its general and highway funds, nor did it maintain accurate balance records, implement recommendations of a 2017 audit, or develop long-term written financial or capital plans.