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Auditors Minutes – July 20, 2015

Town of Braintree

Auditors Meeting Minutes

July 20, 2015

 

Attendees:  Tom Cooch, Lin Brown

 

Mr. Cooch called the meeting to order at 9:35 a.m.

 

No changes were made to the agenda.

Ms. Baumann has resigned as auditor.

Mr. Brown volunteered to be secretary.

 

The minutes of March 23, 2015 were reviewed and approved.

 

Discussion of remaining tasks for FY15

Mr. Cooch’s tasks:

  • The AP audit and the reconciliation of the General Fund through June 30, 2015 have been completed
  • The Reserve Funds audits are nearing completion. A few of these Funds require adjustments to the beginning balances, because they were seeded incorrectly when the Town adopted the NEMRC accounting software.
  • Cash and the Grand List audits are yet to be done.

 

Mr. Brown’s tasks:

  • The Payroll audit is just beginning.
  • The audit of Accounts Receivable (taxes), formerly done by Ms. Bauman, is the biggest task remaining, and was assigned to Mr. Brown.

 

Both the Town Administrator and Town Clerk/Treasurer have been very helpful to the Auditors by assisting us in the use of the NEMRC software and by providing useful reports for audit procedures.

 

Future Professional Audits

A motion by Mr. Cooch and seconded by Mr. Brown, to recommend to the Select Board that the Town continue to contract for professional audit services, passed unanimously.

 

Procedural Manuals

Format: The AP audit procedure manual is complete, and will be used as a format (where appropriate) for the remaining audit procedure manuals.  It includes the following major sections:

Purpose

Overview

Procedure

What to check for

Audit documentation

 

Assignments for preparing drafts of the remaining manuals:

Mr Cooch: General Fund, Reserve Funds, Grand List, Cash

Mr. Brown: Payroll, Accounts Receivable

 

Timeline: The goal is to have all audit procedure manuals completed by the December 2015.

 

Other business

A brief discussion of how to fill the vacancy left by Ms. Baumann ensued.  A few suggestions for potential candidates will be pursued.

 

Meeting was adjourned at 10:35 a.m.

 

 

 

 

Respectfully submitted,

 

Linfield C. Brown