Auditor Minutes

Mar 272019
 

Town of Braintree

Draft Auditors Meeting Minutes

March 25, 2019

 

Attendees:  Tom Cooch, Lin Brown

 

  1. Mr. Cooch called the meeting to order at 8:30 a.m.

 

  1. No changes were made to the agenda.

 

  1. The minutes of the October 8, 2018 meeting were approved.

 

  1. Elect Officers. Mr. Cooch was re-elected Chair and Mr. Brown was re-elected Secretary.

 

  1. Review tasks needing completion for FY19.

– State Payments: Complete through FY19-Q2. Mr Cooch will do the next one for FY19-Q3&Q4.

 

– General Journal: Complete through FY19-Q2. Mr. Cooch will do the FY19-Q3 audit.

 

– Grand List: Complete for FY19. Done annually at the end of Q2.

 

– Accounts Payable: Done through FY19-Q1. Either Mr. Cooch or Ms. Barrett will complete the FY19-Q2 audit and do FY19-Q3.

 

– Payroll: Complete through FY19-Q2. Mr. Brown will do the FY19-Q3 audit.

 

– General and Reserve Funds: Complete through FY19-Q2. Mr. Cooch will do the FY19-Q3 audit.

 

– Cash Receipts: In progress.  See discussion in section 8.a below.

 

  1. Assign jobs for FY20. This item was tabled.

 

  1. Review Sullivan and Powers Reports. A review of the professional auditors (Sullivan and Powers) reports for the past few years shows a substantial improvement in the Town’s management procedures and practices for internal control over financial reporting. The most recent report (FY 2018) shows no ‘material weaknesses’ and no ‘significant deficiencies’.  This is the first time that the Town has received such a good evaluation since using a professional auditor.

 

  1. Audit Procedure Manuals.
  2. Cash Receipts

Continued discussion about identifying the most effective procedures for auditing cash receipts. While focusing audit attention on only the large transactions seems a good strategy, no resolution was reached. Further work on this procedure was tabled.

 

  1. Taxes

Mr. Brown reported on the procedure for auditing income from taxes. The part for verifying the process by which the tax rate is set is nearly complete, lacking only a few written details.  The part for checking that tax bills are generated correctly and that tax receipts are properly recorded and deposited is yet to be done. Mr. Brown will research the delinquent tax reports to determine whether there is a method for doing a year-to-year audit check.

 

  1. Other business – The auditors asked the Town Clerk about the “Property Tax Overpayments” line on the Balance Sheet.

 

  1. Our next meeting will be scheduled at a convenient time in April or May 2019.

 

  1. The meeting was adjourned at 9:30 a.m.

 

 

Respectfully submitted,

 

Linfield C. Brown

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  

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 >>