Auditor Minutes

Nov 212019
 

Town of Braintree

Draft Auditors Meeting Minutes

November 1, 2019

Attendees:  Tom Cooch, Stephanie Barrett, Lin Brown

1. Mr. Cooch called the meeting to order at 9:05 a.m.

2. No changes were made to the agenda.

3. The minutes of the May 25, 2019 meeting were approved.

4. Review tasks needing completion for FY19.

– State Payments: Complete through FY19-Q3&Q4.

– General Journal: Complete through FY19-Q3. There was only one entry for FY19-Q4, so Mr. Cooch will wait until Sullivan and Powers does their audit before completing this task.

– Accounts Payable: Done through FY19-Q2. Ms. Barrett will complete the FY19-Q3 and Q4 audit.

– Payroll: Complete through FY19-Q4

– General Fund: Complete through FY19-Q3. FY19-Q4 is not done due to inconsistencies in the Mascoma bank statements (see item 6 below). Mr. Cooch is working with the Town Treasurer complete the FY19-Q4 audit.

– Reserve Funds: Complete through FY19-Q4.

5. FY21 Budget: Auditors will submit the same budget for FY21 as we have for FY 20.

6. Review changes in General Fund Account at Mascoma Bank

– Mascoma Bank issues account statements (paper) that have inconsistent dates, making it difficult to reconcile the end of month balances. Together with the Town Treasurer, the Town Auditors discussed various options for dealing with this situation. 

– Voted: To authorize Mr. Cooch to write a letter to our professional auditors, Sullivan and Powers, seeking advice on how best to resolve this issue of uncoordinated statement dates for account balances.  In particular, we will ask if screen shots of the online bank account status, all for the same date, are a valid to use as documentation of monthly reconciliation reports.

7. Time Guidelines for Statement Reconciliations

Currently the General Fund reconciliations are 5 months behind completion. The auditors are exploring options for returning to a more timely schedule (see Item 6 above). The goal is to have these reconciliations complete with a month or two of receipt of the bank statements.

8. Changes to Audit Procedure Manuals.

a. General Fund

Mr. Cooch reported that revised procedures, precipitated by Mascoma Bank’s inconsistent monthly statement dates, are in flux and will be developed as the back list of unreconciled monthly reports is resolved.

b. State Payments

Mr. Brown reported that the current procedure uses the NEMRC receipts as a base for reconciling the State Payments to the Town.  Recent experience with the current procedure shows that using the State Payments report as the base for reconciling the NEMRC entries is a more appropriate procedure. We greed that this change is appropriate and Mr. Brown will work on the necessary modifications.

9. Other business.  There was none.

10. Our next meeting will be scheduled at a convenient time in December 2019.

11. The meeting was adjourned at 10:05 a.m.

Respectfully submitted,

Linfield C. Brown

May 302019
 

Town of Braintree Draft Auditors Meeting Minutes May 28, 2019 Attendees:  Tom Cooch, Stephanie Barrett, Lin Brown 1. Mr. Cooch called the meeting to order at 8:55 a.m. 2. No changes were made to the agenda. 3. The minutes of the March 25, 2019 meeting were approved. 4. Review tasks needing completion for FY19. – … Read more >>

Mar 272019
 

Town of Braintree Draft Auditors Meeting Minutes March 25, 2019   Attendees:  Tom Cooch, Lin Brown   Mr. Cooch called the meeting to order at 8:30 a.m.   No changes were made to the agenda.   The minutes of the October 8, 2018 meeting were approved.   Elect Officers. Mr. Cooch was re-elected Chair and … Read more >>

Oct 112018
 

Town of Braintree Draft Auditors Meeting Minutes October 8, 2018   Attendees:  Tom Cooch, Stephanie Barrett, Lin Brown   Mr. Cooch called the meeting to order at 9:10 a.m.   No changes were made to the agenda.   The minutes of the June 4, 2018 meeting were approved.   Review work completed for FY19. – … Read more >>

Jun 072018
 

Town of Braintree Auditors Meeting Minutes June 4, 2018   Attendees:  Tom Cooch, Lin Brown   Mr. Cooch called the meeting to order at 9:10 a.m.   No changes were made to the agenda.   The minutes of the April 11, 2018 meeting were approved.   Review work completed and remaining for FY18. Status of … Read more >>

Apr 132018
 

Town of Braintree Auditors Meeting Minutes April 11, 2018   Attendees:  Tom Cooch, Stephanie Barrett, Lin Brown   1. Mr. Cooch called the meeting to order at 7:04 p.m.   2. No changes were made to the agenda.   3. Mr. Cooch was elected chair and Mr. Brown was elected secretary for the coming year. … Read more >>

Feb 272018
 

Town of Braintree Auditors Meeting Minutes February 12, 2018   Attendees:  Tom Cooch, Stephanie Barrett, Lin Brown   Mr. Cooch called the meeting to order at 10:00 a.m.   No changes were made to the agenda.   The minutes of the April 3, 2017 meeting were approved.   Review work completed and remaining for FY18 … Read more >>

Mar 312017
 

NOTICE   The Auditors of the Town of Braintree will meet at 4:30 a.m., Monday, April 3, 2017, at the Braintree Town Office       AGENDA   Select chair and secretary for upcoming year Approve minutes from 8/15/16 meeting Review work completed and remaining for FY17 Procedure manuals Approval of Reserve Funds Status of … Read more >>

Aug 262016
 

Town of Braintree Draft Auditors Meeting Minutes August 15, 2016   Attendees:  Tom Cooch, Stephanie Barrett, Lin Brown   Mr. Cooch called the meeting to order at 9:35 a.m.   No changes were made to the agenda.   The minutes of the March 21, 2016 meeting were approved.   Review work completed for FY2016 Cooch: … Read more >>

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