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Draft 2024 audit flags material weaknesses; board requests auditor presentation
Summary
A draft 2024 audit (51 pages) identified material weaknesses including untimely bank reconciliations and extensive journal adjustments; the Select Board asked the auditors to present an informational summary at a public session and directed staff to pursue recommendations.
The Select Board reviewed a draft 2024 audit that auditors delivered as a 51-page draft and that highlights material weaknesses, notably untimely monthly bank reconciliations and recurring journal-entry adjustments. Members described the document as "a long read" and debated whether auditors should attend a public session to explain the report and recommendations; members favored an in-person presentation by the audit firm and asked staff to inquire about cost and availability.
Board members emphasized the need to act on controls and staffing recommendations so the same issues do not recur in future years. One board member stressed that while the report documents material weaknesses, it does not imply misappropriation of funds and said the problems appear to be largely accounting and procedural (untimely entries and reconciliations). The board asked staff to ask the auditor for an oral management presentation and to return with logistics and any fee information.
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