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Trustees to contact TD and Citizens after missing deposit slips, update signatory for cash deposits
Summary
The committee discussed missing deposit slips and check registers, agreed to contact TD Bank and Citizens Bank to determine requirements for adding a trustee as a cash depositor, and said it will prepare an audit memo if records cannot be found.
During the June 24 meeting committee members raised concerns about missing deposit slips and incomplete check registers linked to trustee accounts. The group discussed the practical steps needed to enable cash deposits (adding a trustee as an authorized account conductor at TD Bank) and the difficulty reconciling older records at Citizens Bank.
A committee member said the missing items could reflect sloppy record-keeping or funds that moved to another account, and urged due diligence before declaring anything lost. "There are so many questions about how things have been handled," the Committee member said, noting that missing records could represent "thousands" rather than nominal amounts. The committee agreed to first contact TD Bank and Citizens Bank to clarify what documentation is required to add signatories and to request any available historic records.
If those inquiries do not resolve the missing slips, members said they would prepare a memo for audit purposes documenting the missing items so the trustees can close out outdated records while showing evidence of due diligence. The committee emphasized transparency to the public about deposits and reconciliation steps.
Next steps: staff will contact TD Bank to add an authorized depositor for cash, email Citizens Bank to request register information, and loop in the town manager or town finance as needed. The committee also asked staff to compile a list of missing items and, if necessary, draft a memo for the audit record.
