03/28/2022 Unapproved Auditors Meeting Minutes
Town of Braintree
Auditors Meeting Minutes – March 28.2022
Attendees: Tom Cooch, Lin Brown, Allison Jassen
1. The Select Board has appointed Allison Jassen to fill the remainder of Stephanie Barret’s three year term ending in 2023. It is our pleasure to welcome Ms. Jassen to our audit team and to this meeting.
2. Mr. Cooch called the meeting to order at 1:09 p.m.
3. Election of officers.
Mr. Cooch was re-elected as Chair.
Mr. Brown was re-elected as Secretary.
4. The minutes of the September 13, 2021 meeting were approved.
5. Review tasks needing completion for FY22
– General Fund/Reserve Fund: Complete through FY22-Q2.
– Accounts Payable: Done through FY22-Q2.
– Cash Receipts: Done through FY22-Q2.
– Grand List is done annually and is complete.
– General Journal entries: Complete through FY22-Q2.
– Payroll: Complete through FY22-Q2.
– State Payments: Complete through FY22-Q2.
– Summary: All FY22 tasks are up-to-date. Remaining tasks are for Q3 and Q4.
Note on frequency of Cash Receipts audit. This audit has been conducted on both a quarterly and monthly basis. While a quarterly basis is more efficient in terms of auditor time commitment, a monthly basis is more timely for tracking cash received at the Town Office. Our preference is for this audit is a monthly frequency.
6. Assign jobs for FY23
Mr. Cooch: General and Reserve Fund, Cash Receipts, Grand List, and General Journal.
Mr. Brown: Payroll and State Payments
Ms. Jassen: Accounts Payable
7. Cash Receipts Procedure Manual.
Mr. Cooch has completed modifications to the Cash Receipts Procedure Manual approved on 4/12/21 to include an audit of the receipts for fees (dog licenses, copy charges, etc.) that are aggregated by the Town Clerk in a separate spreadsheet. The revised procedure manual, as edited, was approved.
8. Long term storage of Auditor Reports.
We agreed that hard copies of all audit reports will be kept in a loose-leaf note book in the Town Office. Those copies will be saved for two (2) fiscal years, after which they will be removed from the notebook and shredded. A permanent pdf copy of all audit reports will be electronically archived on the T: drive of the Town’s computer system. The path to the audit report archive folder is:
T:/Auditors/Reports/[name of report]/[FY**]
where: [name of report] is Accounts Payable, Cash Receipts, General and Reserve Funds, Grand List, Journal Entries, or State Payments
and [FY**] is the relevant fiscal year for the report.
9. Other Business
There was no other business conducted.
10. The meeting was adjourned at 1:50 p.m.
Linfield C. Brown