Saturday, June 21, 2008

Franklin Matters: Fiscal Year 2007 Audit Report

One is a series of podcast on Franklin (MA) Matters. This episode presents the Fiscal Year 2007 Audit Report from the Franklin Town Council meeting of June 18, 2008.

Time: 45 minutes, 4 seconds

MP3 File

Session notes:

This is Steve Sherlock with another in a series of podcasts for Franklin Matters.

The Town Council meeting of June 18, 2008 featured a presentation on the audit results for fiscal year 2007. It is interesting for a couple of points.

Here it is June 2008 and we are getting the results of the fiscal year that ended fully one year ago.

Why the delay? Partially priority. Partially schedule conflict.

The report for Fiscal 2006 was presented in June 2007 so there is a history of taking time to prepare the audit and review the results.

One key item driving this is people. The Town of Franklin, contrary to what some folks believe is not over staffed or over manned. There are only a few people involved and they can only do so much. As a result, the schedule conflict created by the school audit which was discovered approx in Sep 2007 and took place during Sep – Dec 2007 prevented the normal fiscal year audit from taking place.

I have chosen to present the full segment from the Town meeting here. It is important and will help place the financial foundation for everything else that goes on. Frank Falvey comments towards the end of this segment to reinforce two points; first, the recommendation made by the auditors to put in place an internal audit process and second for the Town Council/Town Administration to process these audits in a more timely fashion.

The full audit report is available in a PDF format on the town website. You can follow along fairly well with the auditors comments to the pages he is talking to. Be aware there there is a preliminary section with pages 1-3, then the full audit report section also beginning with page one. As I understood it, the references were all to the pages in that second section.

The segment lasts about 40 minutes. Enjoy!

--- after the Town Council segment ---

This has been another podcast in series on Franklin (MA) Matters. You can visit the web site at Franklin Matters blogspot dot com. If you have questions or comments you can reach me directly at shersteve dot gmail dot com

The musical intro and closing is from the Podsafe Music Network
Jon Schmidt - Powerful Exhilarating Piano Music

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