MAIDSTONE SPECIAL SELECTBOARD MEETING
August 18, 2016
CTO: 4:00 P.M.
ATTENDANCE: Bradley McVetty, Douglas Lord, Kyle Bouthillier, Bonnie Lovell, Susan Irwin and Randall Northrop of Corrette and Associates.
AUDIT REVIEW: The Selectboard and Treasurer reviewed the following documents in relation to the Town’s financial statements for the year ended December 31, 2015:
a) Preliminary and tentative financial statements for the year ended December 31, 2015
b) Report on Internal controls over Financial Reporting
c) Proposed adjusting journal entries
d) Management representation letter
e) Approval form for adjusting journal entries
f) Approval form for the financial statement form and presentation
g) Draft Management Letter of Comment.
There were some questions asked by the Board and some changes requested in regards to the naming of some accounts. There were a couple of monetary discrepancies that the board asked to be changed or clarified.
In order for Corrette and Associates to issue the financial statements in final form they must receive the following from the Selectboard:
a) The two approval forms signed by management
b) The Management Representation Letter signed by management
c) Management’s responses to the findings and recommendations.
ADJOURNMENT: 5:45 P.M.