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COMMENTS AND RECOMMENDATIONS <br />Based on observations made during the course of the audit, we submit the <br />following comments and recommendations: <br />1. It was apparent from the condition of the records that the checking <br />account had not been regularly reconciled during the year. As soon <br />as the monthly bank statement is received it should be reconciled <br />to the books. Because this procedure was not followed during the <br />year, substantial additional audit work was necessary to satisfy <br />ourselves as to the fairness of presentation of the cash receipts <br />and disbursements for the year. <br />2. Transactions were not regularly posted to the clerk's ledger and <br />the ledger balanced and reconciled to the bank. This important <br />procedure should be done monthly. <br />3. The treasurer's records were not maintained in a condition subject <br />to audit. Therefore, they were not covered by our examination. <br />4. The minutes of the council meeting of May 10th show approval of <br />a transfer of an unspecified amount from the General Fund to the <br />Fire Protection Fund. The minutes should show the specific amount <br />approved by the council for transfer. <br />5. We were unable to reconcile monies received from the sale of licenses <br />and permits to bank deposits due to the lack of information on the <br />receipts and the time that elapsed before making the deposit. A <br />recommendation to aid in correcting this and to avoid additional <br />audit procedures is to include the license or permit number on <br />the receipt. <br />