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Auditors to collect trust-fund reports, prepare library for single audit and request banks list from Sullivan Powers
Summary
Auditors agreed to request trust-fund reports, help the library with required single-audit paperwork, and provide Sullivan Powers with a list of bank and investment accounts so the auditors can verify balances with banks. The Chair will set up meetings and a shared folder to manage the work.
The Chair outlined next steps to ensure trust funds submit required annual reports, saying they would email trust-fund contacts and ask for statements: "I wanna send out some emails to the people on the trust funds and say, you need to get these reports ready." The auditors noted the library keeps separate records and will have additional paperwork for a federal single audit; Sullivan Powers said they could guide the library through forms and documentation.
For the external audit process the auditors said they must supply Sullivan Powers with a list of bank and investment accounts so the auditors can contact the institutions and confirm balances. "We have to get Sullivan Power's list of bank accounts and investment accounts so that they can contact the banks," the Chair said. The committee planned a shared folder and asked staff to send documents to the Chair first for upload.
