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Audit Objective

Determine whether the former Town Comptroller (Comptroller) adequately performed the financial recordkeeping and reporting duties required of this position.

Key Findings

The Comptroller did not adequately perform the financial recordkeeping and reporting duties required of this position. We identified the following inaccuracies:

• 88 checks totaling $361,088 were inappropriately recorded in the general fund and paid from the general fund bank account of which $214,871 were highway fund expenditures.
• $1,441,751 in transfers were recorded in the payroll fund cash account within the financial software during our audit period which was approximately $138,000 more than what was transferred in the payroll bank account.
• $48,000 in deposits and $40,560 in withdrawals in the health reimbursement account were never recorded in the software.

In addition, the Comptroller did not provide the Board with monthly financial reports.

Key Recommendations

• Ensure accounting records are maintained in a complete and accurate manner.
• Ensure the Board receives the detailed monthly reports necessary to monitor and manage financial operations.

Town officials agreed with our findings and have initiated corrective action.