You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
POLICE ASSOCIATION FUNDSObservationDuring the audit, we noted a savings account included on a “summary<strong>of</strong> accounts” included with the <strong>Town</strong>’s December 2010 bank statement.We were able to identify all <strong>of</strong> the accounts listed, except for one account.It was later determined that this account was established forthe police association. This account has a value <strong>of</strong> approximately $900as <strong>of</strong> December 31, 2010 and was not included in the scope <strong>of</strong> theannual audit.ImplicationInternal controls over the financial activities <strong>of</strong> the <strong>Town</strong> are weakenedwhen outside entities are allowed to establish bank accounts using the<strong>Town</strong>’s tax identification number.RecommendationWe recommend that the <strong>Town</strong>’s Treasurer obtain a complete listing <strong>of</strong>all <strong>of</strong> the <strong>Town</strong>’s cash accounts from the bank on a regular basis toensure that no accounts were opened using the <strong>Town</strong>’s tax identificationnumber without the proper authorization. We also recommendthat any outside organization what wishes to perform fund-raising activitynot be allowed to establish bank accounts with the <strong>Town</strong>’s taxidentification number.*******This communication is intended solely for the information and use <strong>of</strong>management and the Board <strong>of</strong> Selectmen and is not intended to be andshould not be used by anyone other than the specified parties.Respectfully submitted,Vachon Clukay & Company PC23