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Audit Objective

Determine whether the Supervisor maintained timely, complete and accurate accounting records and reports to allow the Board to properly manage the Town’s finances.

Key Findings

• The Supervisor did not maintain, or require his bookkeeper to maintain, complete, accurate and up-to-date accounting records and reports.
• The bookkeeper did not record all cash transfers and advances between Town bank accounts and funds in a timely manner.
• Annual update documents (AUDs) were not filed in a timely manner.

Key Recommendations

• Periodically review the bookkeeper’s work to ensure that all financial activity is accurately and completely accounted for.
• Develop a plan for updating and maintaining the accounting records and filing AUDs in a timely manner.

Town officials generally agreed with our recommendations and have initiated, or indicated they planned to initiate, corrective action.