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Needham retirement staff told to meet auditors' Jan. 14 deadline after missing documents flagged
Summary
Board members were told outside auditors (referred to in the record as PRAC/Parekh) have requested missing documentation and set Jan. 14 as a drop-dead date to receive it; staff were directed to prioritize the items to avoid audit findings.
Board members heard Dec. 17 that outside auditors have been on-site for an extended review and have requested additional documentation. The chair told members the auditors set Jan. 14 as the deadline for the retirement office to supply missing items; if the materials are not provided, the auditors may list those items as findings and parts of the audit could be returned as incomplete.
The items specifically requested include a system-generated general ledger (the chair asked for a front-page PDF/trial-balance-style export to accompany bank reconciliations) and letters that document PRAC/Parekh approval or other correspondence related to retiree calculations. Staff said they can produce the PDF GL export for the board packet and will prioritize the auditors' requests.
Members emphasized timely responses to external requests and asked staff to maintain a 24–48-hour turnaround when auditors or the registry request information. The board noted that audit findings imply administrative weaknesses and urged staff to avoid incomplete audit results by supplying the outstanding documentation before Jan. 14.
The board instructed Jake and staff (and in some cases counsel) to coordinate responses and produce the requested materials for PRAC's review.
