Village Boards Blamed for Fredonia's Financial Condition in OSC Report

Inaction of Fredonia village trustees -- past and present -- appear to have played a significant role in the village's fiscal instability. According to the findings of an audit published this week by the New York State Comptroller's Office, trustees did not adopt structurally balanced, realistic budgets; did not develop and adopt multi-year financial and capital plans; and did not verify annual statements and annual financial reports (AFRs) in a timely manner. The audit period was June 1, 2019 to August 21, 2025. Regarding the AFRs, Mayor Mike Ferguson had this in response...

Mike Ferguson: weren't getting reports back from external accountants

The report shows that the village ran a deficit in five of its past six fiscal years, including a $226,884 deficit in 2024-2025. Ferguson says the overspending last year was due to a lack of reserve funds...

Mike Ferguson: response to overspending

Ferguson says the village has instituted corrective action that's incorporated in its 2026-2027 budget...

Mike Ferguson: have instituted corrective action

The audit period covers the village's current administration, as well as the Essek Administration and the last seven months of the Landis Administration.

Click here for the full audit report from the Office of the State Comptroller, which includes Ferguson's full response.

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