Jun 072018
 

Town of Braintree

Auditors Meeting Minutes

June 4, 2018

 

Attendees:  Tom Cooch, Lin Brown

 

  1. Mr. Cooch called the meeting to order at 9:10 a.m.

 

  1. No changes were made to the agenda.

 

  1. The minutes of the April 11, 2018 meeting were approved.

 

  1. Review work completed and remaining for FY18. Status of completed work is mostly unchanged from our last meeting on 4/11/18. FY18Q4 work will be initiated next month after the close of the fiscal year.
  2. Mr. Cooch:

Completed Accounts Payable audit for FY18Q3.

General Fund and Reserve Funds reconciliations are unchanged since our last meeting.

 

  1. Mr. Brown:

Payroll audits are complete through FY18Q3, as reported in April.

 

  1. Audit Procedure Manuals.
  2. Cash

Mr. Cooch has begun developing the procedure for auditing cash receipts suggested at our last meeting. This involves creating a spreadsheet of entries in the Town Clerk’s cash receipt book, and checking this against the bank cash deposit slips.  Prior to the meeting he had circulated a draft spreadsheet to the auditors for review and comment.  He reported good progress and will be preparing a written draft procedure over the summer.

 

  1. State Payments

Mr. Brown has prepared a draft procedure for reconciling payments from the State of Vermont to the Town and circulated it to the auditors prior to the meeting for review and comment. These payments are for highway work, reimbursements for property in current use, and the like. The draft will be reviewed and modified over the summer.

 

  1. Taxes

Mr. Brown reported on progress for a three part procedure for auditing income from taxes.  Discussions with the Town Clerk, Town Treasurer and Head Lister were very helpful. The part for verifying the process by which the tax rate is set is about half complete.  The parts for checking that tax bills are generated correctly and that tax receipts are properly recorded and deposited are yet to be done.  The possibility of including some kind of year-to-year balance of current and delinquent taxes was discussed.  Mr. Brown will continue working to prepare a draft of this procedure and circulate it to the auditors prior to our next meeting.

 

  1. Our next meeting will be scheduled at a convenient time in September 2018.

 

  1. There was no other business conducted at this meeting.

 

  1. The meeting was adjourned at 9:38 a.m.

 

 

Respectfully submitted,

 

Linfield C. Brown