Middletown Springs Auditors Meeting
May 23, 2018 – 7:30 PM
Middletown Springs Town Office
Auditors present: Juanita Burch-Clay (Nita), Sarah Grimm, Melissa Chesnut-Tangerman
Others present: None
Call to order: 7:35 PM
· Minutes from the April 25, 2018 meeting were amended and approved.
2. Agenda adjustments: The warned topic of this meeting is town trust funds. Added to agenda:
- Review of progress on internal controls checklist.
- Cash handling procedures.
- Schedule summer meetings
3. Review auditor activities since last meeting:
- Two work sessions on the internal controls checklist with the treasurer
- Melissa – verification of cash count from transfer station three times
- Nita – work on town trust funds and contacting town fund trustees
- Sarah – reports on SB meetings.
o Still waiting for info from the sheriff’s department
4. Review Internal Controls Checklist
- Auditors have completed a draft of the checklist, working with the treasurer at two work sessions.
- There are some questions still to be answered and/or confirmed. We will make a list and contact relevant officials.
- Overall, there has been good progress made since we did this in 2012-13, for example in expanding use of NEMRC modules (eg. payroll), using electronic back-ups, putting policies in place (Personnel, Purchasing), etc.
- When completed, we will bring the ICC to the SB for signatures and put a copy in a binder in the town office.
- We believe that completing this checklist and taking action to remedy gaps will make our external audit more efficient and cost effective when it is done.
5. Cash Handling Procedures
- We have reviewed the cash handling guidelines with the treasurer and the town clerk. Some parts of the process work well, and other parts have been inconsistently applied.
- We will continue work to improve the process.
6. Town Trust Funds – Discussion about trust funds and plans to continue working with them.
- Nita will continue to review the files compiled by Jim Georg and share notes on them.
- Nita will continue efforts to meet with trustees, and set up reports for FY18.
- There has been great frustration with the difficulty of getting an up-to-date list of trustees. We still do not have a complete official list. The list on the website is incomplete, as is the list provided to the SB by the town clerk in April.
7. Other Business
- Petty cash – discussion about petty cash account. Town clerk says she doesn’t use it, in which case the petty cash account should be closed out.
- Policy binder - For easy public access and use as a resource, we would like to see the updated town policy manual (currently available on the town website) printed and in the policy binder in the town office.
8. Next tasks were assigned as auditors continue working on internal controls, cash handling, trust funds, auditing various town transactions, and more.
9. Future Meetings:
- Auditors Meeting – June 27, 2018 at 7:30 PM
- No July meeting
- Auditors Meetings – August 15, September 26, October 24, November 28, 2018 at 7:30 PM
- No December meeting.
Meeting adjourned: 9:10 PM
Minutes submitted by Juanita Burch-Clay