Auditor Minutes

Aug 262016
 

Town of Braintree

Draft Auditors Meeting Minutes

August 15, 2016

 

Attendees:  Tom Cooch, Stephanie Barrett, Lin Brown

 

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

 

  1. No changes were made to the agenda.

 

  1. The minutes of the March 21, 2016 meeting were approved.

 

  1. Review work completed for FY2016
  • Cooch:
  1. AP audit for FY16Q1 through Q3 are complete.
  2. Monthly General Fund and Reserve Funds reconciliation through May 2016 are complete. June (EOY) reconciliation pending Town Treasurer’s final close for FY2016.
  3. Grand List: Awaiting completion of Lister adjustments to property assessments. Not required until Fall 2016.
  • Barrett:
  1. AP audit for FY16Q4 is complete.
  2. Cash reconciliation: Reviewed cash procedures with Town Clerk/Treasurer. Audit procedure remains in development.

 

  • Brown:
  1. Payroll audits for FY16Q2 through Q4 are complete. Minor procedural and technical errors were discovered.   Brown will request that the Select Board Chair impress upon Town supervisors that all time sheets must be checked for numerical accuracy and must have a supervisor’s approval signature.
  2. Accounts Receivable: No progress to date.

 

  1. Plan tasks for FY 2017

Mr. Cooch: Monthly General Fund and Reserve Fund reconciliations. Grand List.

Ms. Barrett: AP audit. Cash reconciliation.

Mr. Brown: Payroll audit. AR audit.

 

  1. Audit Procedure Manuals
  • General Fund and Reserve Funds Procedure Manuals.
  1. New drafts of the General Fund and Reserve Funds Reconciliation procedures were reviewed and discussed at length. The main issues are (1) the difficulty of importing the NEMRC Reserve Fund reports into a suitable Excel template and (2) understanding the beginning balance adjustments made to these reports by the professional auditors – Sullivan and Powers (S&P).
  2. We met briefly with the Town Treasurer who helped us with interpreting both the NEMRC Reserve Funds reports and the S&P beginning balance adjustments.
  3. We conditionally approved the General Fund Reconciliation Procedure Manual, pending a clean copy. Mr. Cooch will place a copy in the Audit Procedures Binder in the Town Offices.
  4. Cooch will continue to refine the draft Reserve Funds Reconciliation Procedure.

 

  • Accounts Receivable Audit Procedure.
  1. Brown will prepare a draft of the Accounts Receivable audit procedure. This will include income from property taxes, grants and other sources.

 

  • Cash Audit Procedure.
  1. Barrett will prepare a draft of the Cash Receipts audit procedure in consultation with the Town Treasurer and the Town’s Cash Receipts Policy.

 

  1. There was no other business conducted.

 

  1. The meeting was adjourned at 11:25 a.m.

 

 

 

Respectfully submitted,

 

Linfield C. Brown

Aug 112016
 

Braintree Auditors Meeting August 15, 2016 9:30 a.m.   AGENDA Approve minutes from 3/21/16 meeting Review work completed for FY16 Plan tasks for FY17 Procedure manuals Approval of General and Reserve Funds Status of Accounts Receivable and Cash Audit Procedures Other business Adjourn  

Nov 232015
 

Town of Braintree Draft Auditors Meeting Minutes November 9, 2015   Attendees:  Tom Cooch, Stephanie Barrett, Lin Brown Ms. Barrett was welcomed as our newest member, replacing Ms. Baumann.   Mr. Cooch called the meeting to order at 9:25 a.m.   No changes were made to the agenda.   The minutes of the July 20, … Read more >>

Jul 212015
 

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 … Read more >>

Jul 152015
 

NOTICE   The Auditors of the Town of Braintree will meet at 9:30 a.m., Monday, July 20, 2015, at the Braintree Town Office AGENDA Review of the agenda Approve minutes from 3/23/14 meeting Discuss remaining tasks for FY15 Future professional audits Procedure manuals Approve format Establish timeline Other business Adjourn

Mar 302015
 

Town of Braintree Auditors Meeting Minutes – Unapproved March 23, 2015 Attendees:  Jen Baumann, Tom Cooch, Lin Brown Mr. Cooch called the meeting to order at 9:35 a.m. No changes were made to the agenda. Mr. Cooch was re-elected as Chair. Ms. Baumann was re-elected secretary. The minutes of October 6, 2014 were reviewed and … Read more >>

Oct 142014
 

Town of Braintree Auditors Meeting Minutes October 6, 2014   Attendees:  Tom Cooch, Lin Brown, Holly Jarvis Mr. Cooch called the meeting to order at 9:10 a.m. There were no changes to the meeting agenda. The minutes of August 25, 2014 were reviewed and approved. A discussion ensued regarding the status of the implementation of … Read more >>

Aug 272014
 

Town of Braintree Auditors Meeting Minutes August 25, 2014 Attendees:  Jen Baumann, Tom Cooch, Lin Brown, Jessica Brassard, Holly Jarvis Mr. Cooch called the meeting to order at 10:15 a.m. Mr. Cooch relayed the information that with the new open meeting laws the minutes of Auditor meetings must be submitted within 5 days.  Ms. Baumann … Read more >>

Aug 262014
 

Town of Braintree Auditors Meeting Minutes March 17, 2014 Attendees:  Jen Baumann, Tom Cooch, Lin Brown, Jessica Kinney , Tim Caulfield Mr Cooch called the meeting to order at 10:00 a.m. Mr. Cooch was elected Chair and Ms. Baumann was elected secretary, Mr. Brown was welcomed as a new auditor. The minutes of July 8th, … Read more >>