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Audit Objective

Determine if the Board ensured financial transactions were accounted for timely and accurately and leave accrual balances were accurate.

Key Findings

• The Board did not provide adequate oversight of the Comptroller’s duties to ensure that they were completed timely and accurately, which ultimately cost the Town $7,955 in late fees and uncollected amounts.
• The Board did not adequately segregate the Comptroller’s duties and ensure that proper controls were in place over cash receipts and disbursements.
• The Comptroller did not properly account for Town operations timely or accurately.

Key Recommendations

• Provide sufficient oversight of the Comptroller by requesting financial reports to verify the adequacy of the work performed and to adequately monitor financial operations and financial condition.
• Establish proper controls over the Comptroller’s duties, including properly segregating duties.

Town officials generally agreed with our recommendations and indicated they are in the process of implementing corrective action.