Looking for some summer reading?
Something more than a paperback novel or a magazine from the grocery store check out line?
Try the Financial Audit Reports for 2008 and 2009. You can obtain both reports from the town website here:
http://franklinma.virtualtownhall.net/Pages/FranklinMA_Admin/Audits/
If you find a term you are not familiar with, look it up with your favorite search engine. The results should include one or two dictionary references, an entry for wikipedia and perhaps some professional references including higher education institutions.
By the time you finish reading and studying, the summer will be over!
Enjoy!
By the way - if you are interested in the Town budget documents, you can find the prior years here:
http://franklinma.virtualtownhall.net/Pages/FranklinMA_Admin/previous
You can find the current Fiscal Year 2011 budget here:
http://franklinma.virtualtownhall.net/Pages/FranklinMA_Admin/FY%2011%20Budget/
Franklin, MA
Showing posts with label audit. Show all posts
Showing posts with label audit. Show all posts
Saturday, July 31, 2010
Wednesday, March 3, 2010
Live reporting - audit
H. PRESENTATIONS/DISCUSSIONS –
1. Presentation of Audit – Melanson Heath & Co.
The audit went well, no adjustments necessary
A significant estimate, an actuarial valuation to calculate the liability
Most readers will look to general and stabilization fund and not pay much attention to this unfunded liability
Page 14, 3rd number in the column
was 3.2 M is now 3.9 M virtually unchanged given the size of the overall operations
Page 16, 1st column, 3rd up from the bottom
$220,000 change in fund balance, given size of the budget this is an insignificant number
Page 16, 2nd column, stimulus money
amount coming in is the same as that expended
Page 18, budget vs actual page
attention to last column of numbers, midway down
total revenue and other sources 2.8 M less
most as result of cuts from 9c cuts of 3.5M
most of the offset was covered by the stimulus funds
effectively washing expenditures off against the stimulus
implemented the new accounting liability
Page 12 - designed to shown a long term perspective balance sheet
Other Post Employment Benefits (OPEB) liabilities, a little over 10 million
was always there but accounting standards are now requiring recognition
unrestricted funds decreased accordingly for this 10 M
management letter, a couple of recommendations
none of these rise to material weaknesses
1 - close some inactive capital project funds
2 - develop a more 'formal' risk assessment process, does assess risk currently, risk assessment is a key management function. department head meetings would be a good place to start this, to formalize this, would be how the Town would respond to this risk. Otherwise a very strong internal control structure
3 - tailings, tracks stale checks, one account has about $44,000 of uncashed checks
vendor no longer providing reconciliation services by end of fiscal year so this account will be closing
McGann - what is OPEB
Scott - described the term, basically retiree health insurance
McGann - what is the tailings account?
Nutting - we have written the checks, they have not been cashed by others
Scott - I don't like to compare clients, we did not need to propose any significant journal entries, we have only 3 minor recommendations, they do not rise to a significant or to a material deficiency
I am not involved in all our firms audits, I think this is a very good audit and much more timely than even two years ago.
Pfeffer - Page 32 do I read that we have
You do have some securities unsecured and unregistered, it is a rather high percentage, the notation is as of one point in time, it can change on a daily basis
Pfeffer - do you consider it dangerous or shocking?
No, there is some risk associated with some risks on investments but nothing unusual
I view some of my role to challenge my clients to not just provide the numbers but to go above and beyond
This year is much better, in 2007, we were here 11 months after the close
Gagner - that was somewhat do to the MUNIS conversion that we had just been completed.
We are not repeating any comments from prior years, this should be an important point to here.
Powderly - do you prepare fiscal statistics so we can compare ourselves to another
No, that would be the role of your fiscal advisors. You could do ten year trend information, largest employers, largest tax payers, etc.
Jones -what would you regard as an excellent goal
Gagner - no recommendations in the management letter
1. Presentation of Audit – Melanson Heath & Co.
The audit went well, no adjustments necessary
A significant estimate, an actuarial valuation to calculate the liability
Most readers will look to general and stabilization fund and not pay much attention to this unfunded liability
Page 14, 3rd number in the column
was 3.2 M is now 3.9 M virtually unchanged given the size of the overall operations
Page 16, 1st column, 3rd up from the bottom
$220,000 change in fund balance, given size of the budget this is an insignificant number
Page 16, 2nd column, stimulus money
amount coming in is the same as that expended
Page 18, budget vs actual page
attention to last column of numbers, midway down
total revenue and other sources 2.8 M less
most as result of cuts from 9c cuts of 3.5M
most of the offset was covered by the stimulus funds
effectively washing expenditures off against the stimulus
implemented the new accounting liability
Page 12 - designed to shown a long term perspective balance sheet
Other Post Employment Benefits (OPEB) liabilities, a little over 10 million
was always there but accounting standards are now requiring recognition
unrestricted funds decreased accordingly for this 10 M
management letter, a couple of recommendations
none of these rise to material weaknesses
1 - close some inactive capital project funds
2 - develop a more 'formal' risk assessment process, does assess risk currently, risk assessment is a key management function. department head meetings would be a good place to start this, to formalize this, would be how the Town would respond to this risk. Otherwise a very strong internal control structure
3 - tailings, tracks stale checks, one account has about $44,000 of uncashed checks
vendor no longer providing reconciliation services by end of fiscal year so this account will be closing
McGann - what is OPEB
Scott - described the term, basically retiree health insurance
McGann - what is the tailings account?
Nutting - we have written the checks, they have not been cashed by others
Scott - I don't like to compare clients, we did not need to propose any significant journal entries, we have only 3 minor recommendations, they do not rise to a significant or to a material deficiency
I am not involved in all our firms audits, I think this is a very good audit and much more timely than even two years ago.
Pfeffer - Page 32 do I read that we have
You do have some securities unsecured and unregistered, it is a rather high percentage, the notation is as of one point in time, it can change on a daily basis
Pfeffer - do you consider it dangerous or shocking?
No, there is some risk associated with some risks on investments but nothing unusual
I view some of my role to challenge my clients to not just provide the numbers but to go above and beyond
This year is much better, in 2007, we were here 11 months after the close
Gagner - that was somewhat do to the MUNIS conversion that we had just been completed.
We are not repeating any comments from prior years, this should be an important point to here.
Powderly - do you prepare fiscal statistics so we can compare ourselves to another
No, that would be the role of your fiscal advisors. You could do ten year trend information, largest employers, largest tax payers, etc.
Jones -what would you regard as an excellent goal
Gagner - no recommendations in the management letter
Thursday, January 14, 2010
Audit comes out clean and with praise
The text of this posted was updated and replaced by the text here:
http://franklinmatters.blogspot.com/2010/01/school-dept-fiscal-review-comes-out.html
http://franklinmatters.blogspot.com/2010/01/school-dept-fiscal-review-comes-out.html
Tuesday, June 23, 2009
Live reporting - Audit actions, budget, FY 10
3. Discussion Only Items
Goodman - review of the agreement between the Town and School to formalize and eliminate the forensic audit recommendation.
For example; custodial expenses by the Town for the schools behalf have been formalized to be charged appropriately. The Technology staff is paid initially by the Schools and charged across to the Town. Both sides should be reviewing this agreement on an annual basis.
The end of year report will be used to calculate the "net school spending" amount that the State uses to track how well we are doing. As referenced during the budget discussions, this amount is getting close to the State minimum required level.
Rohrbach - where does the Charter School fit in?
Goodman - it is a factor on the Town side for the "net school spending" calculation. Let me get a better analysis of how it fits. It is a pass through charge that we don't control.
Sabolinski - we think this is a fair representation of the operations and shared expenses between the Town and Schools.
Cafasso - You're coming up on a year?
Goodman - just over a year, we have a good healthy working relationship and I look to see it maintained.
Cafasso - Thank you, I feel more comfortable with the finances you have presented this past year.
Rohrbach - it is great to have this down and documented, it will be a good reference for future.
#3 - State level updates
Chapter 70 cut 2%
Stimulus funds were also cut
Town needs to determine how to split/absorb the cuts between the Town and Schools
Circuit breaker reduced from 60% to around 38-42% that's another $274,000 cut
Since these numbers are still fluid, the budget sub-committee needs to continue to review and await some unanswered questions before making final decisions
Cafasso - we need to see a kind of menu of items and associated dollars that could be considered.
Roy - with the Teachers agreement we were getting down to about 500,000
Sabolinski - it looks like we can add back about 23 positions based upon money that is confirmed and not changing.
Sherlock - I am a little confused. Is the 800,000 shortage Jeff Nutting had referenced now closer to the 1.1 million just discussed, or if this was in addition to the 800,000. If I understand it correctly, it is now closer to a 1.1 million short fall to the total Franklin budget. It remains to be see how it gets split between the Town and Schools.
Roy - good point, there were 60 notified, based on the numbers this far, approx 23 may be able to be returned leaving still 40-plus would be lost positions
My explanation added after the meeting: The School Committee and Administration were talking of adding teachers back based upon the consideration that 60 had been notified and were being cut. I had been working from a difference reference point. So if the School Committee had gotten their piece of the budget shortfall reduced to about 500,000 and the Town now needs to split the 1.1 million (up from the 800,000 previously discussed), then the School side could end up with another 550,000 to look to adjust the budget to cover. Coincidentally, that works out to be about 1 million to cover which could mean those teachers (that Sabolinski mentioned) aren't coming back. With such a fluid situation, all I can say is stay tuned in.
Armenio - parents should plan on program fees could still be increased and additional programs could still be cut until we have that final number.
Trahan - I agree we should keep things open until we have a final number, they should stay tuned.
- Town – School Agreement
- Budget to Actual
- FY10 Budget
Goodman - review of the agreement between the Town and School to formalize and eliminate the forensic audit recommendation.
For example; custodial expenses by the Town for the schools behalf have been formalized to be charged appropriately. The Technology staff is paid initially by the Schools and charged across to the Town. Both sides should be reviewing this agreement on an annual basis.
The end of year report will be used to calculate the "net school spending" amount that the State uses to track how well we are doing. As referenced during the budget discussions, this amount is getting close to the State minimum required level.
Rohrbach - where does the Charter School fit in?
Goodman - it is a factor on the Town side for the "net school spending" calculation. Let me get a better analysis of how it fits. It is a pass through charge that we don't control.
Sabolinski - we think this is a fair representation of the operations and shared expenses between the Town and Schools.
Cafasso - You're coming up on a year?
Goodman - just over a year, we have a good healthy working relationship and I look to see it maintained.
Cafasso - Thank you, I feel more comfortable with the finances you have presented this past year.
Rohrbach - it is great to have this down and documented, it will be a good reference for future.
#3 - State level updates
Chapter 70 cut 2%
Stimulus funds were also cut
Town needs to determine how to split/absorb the cuts between the Town and Schools
Circuit breaker reduced from 60% to around 38-42% that's another $274,000 cut
Since these numbers are still fluid, the budget sub-committee needs to continue to review and await some unanswered questions before making final decisions
Cafasso - we need to see a kind of menu of items and associated dollars that could be considered.
Roy - with the Teachers agreement we were getting down to about 500,000
Sabolinski - it looks like we can add back about 23 positions based upon money that is confirmed and not changing.
Sherlock - I am a little confused. Is the 800,000 shortage Jeff Nutting had referenced now closer to the 1.1 million just discussed, or if this was in addition to the 800,000. If I understand it correctly, it is now closer to a 1.1 million short fall to the total Franklin budget. It remains to be see how it gets split between the Town and Schools.
Roy - good point, there were 60 notified, based on the numbers this far, approx 23 may be able to be returned leaving still 40-plus would be lost positions
My explanation added after the meeting: The School Committee and Administration were talking of adding teachers back based upon the consideration that 60 had been notified and were being cut. I had been working from a difference reference point. So if the School Committee had gotten their piece of the budget shortfall reduced to about 500,000 and the Town now needs to split the 1.1 million (up from the 800,000 previously discussed), then the School side could end up with another 550,000 to look to adjust the budget to cover. Coincidentally, that works out to be about 1 million to cover which could mean those teachers (that Sabolinski mentioned) aren't coming back. With such a fluid situation, all I can say is stay tuned in.
Armenio - parents should plan on program fees could still be increased and additional programs could still be cut until we have that final number.
Trahan - I agree we should keep things open until we have a final number, they should stay tuned.
Monday, March 23, 2009
FM #36 - This week in Franklin, MA
This is #36 in the series of podcasts on what matters in Franklin, MA. In this session I focus on the key items from the week ending March 22, 2009.
Time: 9 minutes, 49 seconds
MP3 File
Session Notes
Music intro
My intro
This internet radio show or podcast for Franklin Matters is number 36 in the series.
After a series of special recordings, the 3-part Government and It Role in the Economy
Which was preceded by the wonderful first person narrative by Abraham Bolden as he told of his days in the Secret Service
It is time to return to the matters at hand in Franklin this week, ending March 22, 2009.
This was a roller coaster type week, with some ups and downs. Rumors of what the FY 2010 budget will look like and how the cuts will affect delivery of services we have today are on the downer side. There was a good share of ups however and we'll review those here.
From the Town Council meeting on Wednesday, the cost estimates for repairing the bandstand on the Town Common came in under what was initially forecasted. The seven bids came in between $88,000 on the high side and $48,000 on the low side. The Town will use the low bid and only need to draw on the grant from Toll Brothers to fund the repairs. No other capital dollars will be needed.
The Audit of the FY 2008 financial reports was completed in record time and with two recommendations. One, to establish better policy and procedures around the documentation created by the DPW for their abatements. The dollars were all accounted for but trying to get the appropriate supporting documentation was challenging, hence the recommendation to
correct this.
Two, a recommendation to create a capital budget. This is probably overdue. As you should be aware, Franklin does not have a capital budget. This year the capital plan had over $8 million dollars of items on it and these were the prioritized ones. Of this $8 million, about $1 million is likely to get funded from “free cash”. “Free cash” is usually generated each year from the funds that were left over at the end of the budget year. Funds that either came in higher than expected on the revenue side, or were not fully spent on the expense side. The State will certifiy the “free cash” towards the end of the calendar year (i.e. Nov/Dec) for the prior fiscal year (i.e. ending June 30th). From that time on, Franklin can use the “free cash” for anything it would like. The caution is not to use it for operations as the dollar is really a one time occurrence. Operational dollars need to be funded on a recurring or sustainable manner.
This year, a good portion of the “free cash” was used to cover the shortfall in the snow and ice removal expenses. A second amount was added to the stabilization fund to bring that total to $5 million target. The benefits of keeping the targeted amount in the stabilization fund paid off with the reduce interest expense when the Town went to the market to sell a bond. The balance of the “free cash” is targeted for use on capital. A lawn mower, and the payment on the new ladder truck were already approved. The remaining capital budget is still pending a decision by the Council. They were holding off on Jeff Nutting's advice to see what the final snow and ice amount was going to be. I would think that we can expect a decision on the remaining capital sometime in April.
So this has been all in preparation of the need for a capital budget. The Town has not had one for many years. Maybe it did at one time. While there is talk of the 20 year plan to repair the roads, there is no actual budget to do so. When the Town has been able to get state money, or via use of the water/sewer enterprise accounts to repair the water/sewer mains, then and only then has the road been repaired. This is just one example of the need for a capital budget. The technology needs of the Town would also be better served with one. It does make good financial sense to have one.
At the Downtown Partnership meeting this week, Susan Rohrbach, Renee Danho and I presented on the School Strategy Plan underway. This was previously shared with the School Committee at the January 27th meeting.
The Steering Committee is still making the rounds to the various stakeholder groups within the Franklin community to let them know we are looking at the strategic plan previously created in 2004, and validating that the core values, mission statement and vision are what we want for today. We are preparing a survey to solicit your input. It will be web based but hard copy will be available at locations throughout Town (schools, Library, Town Hall, etc.) A slide show with an audio recording is being prepared to help share the news on this effort..
While at the Downtown Partnership meeting, we heard a presentation from the DPW on proposed changes to the sign bylaw. There was good discussion on this topic. There is still an opportunity to provide feedback. There will be a presentation to the Town Council and Planning Board with formal hearing time to allow for discussion on the implications of the changes. As I hear of that schedule, I will share it here. One potential area for revision that I see is in the temporary sign section where they don't appropriately cover sandwich boards. Sandwich boards are those A frame like signs seen about town. For an example the one last week touting the bottle and can drive at FHS. These signs are technically illegal.
In case you missed it, slide shows of the bandstand, the Trivia Bee and the Harlem Wizards visit were all posted to Franklin Matters this week.
In the week ahead, the School Committee meets on Tuesday and may get a preliminary look at the budget and what it could mean to what schools will operate like next September. I would pay attention to that one.
--------------
This podcast has been a public service provided to my fellow citizens of Franklin, MA
For additional information, please visit Franklinmatters.blogspot.com/
If you have questions or comments you can reach me directly at shersteve @ gmail dot com
The musical intro and closing is from the Podsafe Music Network
Jon Schmidt - Powerful Exhilarating Piano Music
Time: 9 minutes, 49 seconds
MP3 File
Session Notes
Music intro
My intro
This internet radio show or podcast for Franklin Matters is number 36 in the series.
After a series of special recordings, the 3-part Government and It Role in the Economy
Which was preceded by the wonderful first person narrative by Abraham Bolden as he told of his days in the Secret Service
It is time to return to the matters at hand in Franklin this week, ending March 22, 2009.
This was a roller coaster type week, with some ups and downs. Rumors of what the FY 2010 budget will look like and how the cuts will affect delivery of services we have today are on the downer side. There was a good share of ups however and we'll review those here.
From the Town Council meeting on Wednesday, the cost estimates for repairing the bandstand on the Town Common came in under what was initially forecasted. The seven bids came in between $88,000 on the high side and $48,000 on the low side. The Town will use the low bid and only need to draw on the grant from Toll Brothers to fund the repairs. No other capital dollars will be needed.
The Audit of the FY 2008 financial reports was completed in record time and with two recommendations. One, to establish better policy and procedures around the documentation created by the DPW for their abatements. The dollars were all accounted for but trying to get the appropriate supporting documentation was challenging, hence the recommendation to
correct this.
Two, a recommendation to create a capital budget. This is probably overdue. As you should be aware, Franklin does not have a capital budget. This year the capital plan had over $8 million dollars of items on it and these were the prioritized ones. Of this $8 million, about $1 million is likely to get funded from “free cash”. “Free cash” is usually generated each year from the funds that were left over at the end of the budget year. Funds that either came in higher than expected on the revenue side, or were not fully spent on the expense side. The State will certifiy the “free cash” towards the end of the calendar year (i.e. Nov/Dec) for the prior fiscal year (i.e. ending June 30th). From that time on, Franklin can use the “free cash” for anything it would like. The caution is not to use it for operations as the dollar is really a one time occurrence. Operational dollars need to be funded on a recurring or sustainable manner.
This year, a good portion of the “free cash” was used to cover the shortfall in the snow and ice removal expenses. A second amount was added to the stabilization fund to bring that total to $5 million target. The benefits of keeping the targeted amount in the stabilization fund paid off with the reduce interest expense when the Town went to the market to sell a bond. The balance of the “free cash” is targeted for use on capital. A lawn mower, and the payment on the new ladder truck were already approved. The remaining capital budget is still pending a decision by the Council. They were holding off on Jeff Nutting's advice to see what the final snow and ice amount was going to be. I would think that we can expect a decision on the remaining capital sometime in April.
So this has been all in preparation of the need for a capital budget. The Town has not had one for many years. Maybe it did at one time. While there is talk of the 20 year plan to repair the roads, there is no actual budget to do so. When the Town has been able to get state money, or via use of the water/sewer enterprise accounts to repair the water/sewer mains, then and only then has the road been repaired. This is just one example of the need for a capital budget. The technology needs of the Town would also be better served with one. It does make good financial sense to have one.
At the Downtown Partnership meeting this week, Susan Rohrbach, Renee Danho and I presented on the School Strategy Plan underway. This was previously shared with the School Committee at the January 27th meeting.
The Steering Committee is still making the rounds to the various stakeholder groups within the Franklin community to let them know we are looking at the strategic plan previously created in 2004, and validating that the core values, mission statement and vision are what we want for today. We are preparing a survey to solicit your input. It will be web based but hard copy will be available at locations throughout Town (schools, Library, Town Hall, etc.) A slide show with an audio recording is being prepared to help share the news on this effort..
While at the Downtown Partnership meeting, we heard a presentation from the DPW on proposed changes to the sign bylaw. There was good discussion on this topic. There is still an opportunity to provide feedback. There will be a presentation to the Town Council and Planning Board with formal hearing time to allow for discussion on the implications of the changes. As I hear of that schedule, I will share it here. One potential area for revision that I see is in the temporary sign section where they don't appropriately cover sandwich boards. Sandwich boards are those A frame like signs seen about town. For an example the one last week touting the bottle and can drive at FHS. These signs are technically illegal.
In case you missed it, slide shows of the bandstand, the Trivia Bee and the Harlem Wizards visit were all posted to Franklin Matters this week.
In the week ahead, the School Committee meets on Tuesday and may get a preliminary look at the budget and what it could mean to what schools will operate like next September. I would pay attention to that one.
--------------
This podcast has been a public service provided to my fellow citizens of Franklin, MA
For additional information, please visit Franklinmatters.blogspot.com/
If you have questions or comments you can reach me directly at shersteve @ gmail dot com
The musical intro and closing is from the Podsafe Music Network
Jon Schmidt - Powerful Exhilarating Piano Music
Thursday, March 19, 2009
"your financial statements are totally in (good order)"
GHS
FRANKLIN —
Five more town unions have volunteered to freeze their salaries and make higher co-payments on their health insurance to save jobs, Town Administrator Jeffrey D. Nutting announced at last night's Town Council meeting.
Highway workers, custodians, clerks, tradespeople (such as electricians and plumbers), police and fire dispatcher unions, all of whom fall under the umbrella of the American Federation of State, County, and Municipal Employees union, each voted affirmatively, Nutting said.
"That will save all their potential layoffs," Nutting said.
In total, those unions have about 130 members, he said.
Read the full article on the Town Council meeting in the Milford Daily News here.
For the live reporting from the complete meeting check here.
Wednesday, March 18, 2009
Live reporting - Audit report
Susan Gagner
Jim Dacey
Auditor (fill in name later)
no material entries made to start the audit
The audit report can be found here (PDF)
Auditor recommendation to set up a capital account, current capital is budgeted by using "free cash"
Auditor recommendation on formal system to support data for utility abatements and adjustments for DPW
Q - Bartlett, we had a problem with reconciling ambulance reports from last time
A - Gagner, we have reconciled the first 6 months of 2009, we added a report to perform this audit and that why the item is no longer part of the report.
Q - Bartlett, and last year with the School problem
A - Gagner, the separation between entries has been set up, they don't have access to make ledger entries
Q - Bartlett, so this report covers the School's as well
A - Auditor, yes, this is completely covered, no issues found
Jim Dacey
Auditor (fill in name later)
no material entries made to start the audit
The audit report can be found here (PDF)
Auditor recommendation to set up a capital account, current capital is budgeted by using "free cash"
Auditor recommendation on formal system to support data for utility abatements and adjustments for DPW
Q - Bartlett, we had a problem with reconciling ambulance reports from last time
A - Gagner, we have reconciled the first 6 months of 2009, we added a report to perform this audit and that why the item is no longer part of the report.
Q - Bartlett, and last year with the School problem
A - Gagner, the separation between entries has been set up, they don't have access to make ledger entries
Q - Bartlett, so this report covers the School's as well
A - Auditor, yes, this is completely covered, no issues found
Monday, October 6, 2008
My analysis of the Audit Report - updated
I went back to the Audit Report from earlier this year and updated my summary and analysis of the report.
This was originally published in February and can be found here
This was originally published in February and can be found here
Tuesday, July 15, 2008
live update - audit update
Miriam Goodman talking about the Town Audit Report and impacts for the school department.
Town Comptroller will make the ledger entry for the School Department
The process currently is for the request to go from Miriam's office to the Comptroller's Office. This has been in place for some time (since last year). It continues under her role now. It will continue under her control.
The auditors findings are for the systematic access to be removed. That will not happen right away but should happen to be in compliance with the audit. The Town controls that overall access.
Overall the findings pertaining to the school department are minor. Amount was against this line item instead of that line item. Meeting to adjust as required to be in compliance going forward.
Town Comptroller will make the ledger entry for the School Department
The process currently is for the request to go from Miriam's office to the Comptroller's Office. This has been in place for some time (since last year). It continues under her role now. It will continue under her control.
The auditors findings are for the systematic access to be removed. That will not happen right away but should happen to be in compliance with the audit. The Town controls that overall access.
Overall the findings pertaining to the school department are minor. Amount was against this line item instead of that line item. Meeting to adjust as required to be in compliance going forward.
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
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
Tuesday, June 17, 2008
Audit report due at Town Council
The Town Council agenda package for Wednesday's meeting is now available for download here (PDF).
Pages 5 through 54 cover the audit report for the fiscal year ending 6/30/07.
Yes, it took a while to prepare the report. This was Frank Falvey's point during his recent citizens comment.
Read the report, go to the meeting prepared with one or two questions.
Ask them. Yes, you can do it.
Do it for me. Unfortunately, I won't be there.
If you need a question or two, let me know (via comment or email).
Pages 5 through 54 cover the audit report for the fiscal year ending 6/30/07.
Yes, it took a while to prepare the report. This was Frank Falvey's point during his recent citizens comment.
Read the report, go to the meeting prepared with one or two questions.
Ask them. Yes, you can do it.
Do it for me. Unfortunately, I won't be there.
If you need a question or two, let me know (via comment or email).
Monday, June 16, 2008
FRANKLIN TOWN COUNCIL - agenda - 6/18/08
Agenda - June 18, 2008 - 7:00 PM
A. APPROVAL OF MINUTES
B. ANNOUNCEMENTS
C. PROCLAMATIONS/RECOGNITIONS
D. CITIZEN COMMENTS
E. APPOINTMENTS – Annual Committee Appointments
F. HEARINGS
G. LICENSE TRANSACTIONS
H. PRESENTATIONS/DISCUSSIONS
Annual Audit Report
NuStyle – Grove Street
Amendments to Town Code Chp 125-Peace & Good Order
I. SUBCOMMITTEE REPORTS
J. LEGISLATION FOR ACTION
1. Resolution 08-46: FY 2008 Capital Budget
2. Resolution 08-47: Authorization to Borrow – Library Repairs
3. Zoning Bylaw Amendment 08-617: Amendment to Chp. 185, Town Code: Water Resource District – 2nd Reading
4. Zoning Bylaw Amendment 08-618: Amendment to Chp. 185, Town Code: Biotechnology Uses – 2nd Reading
5. Zoning Bylaw Amendment 08-619: Amendment to Chp. 185-5: Zoning Map - Biotechnology Use – 2nd Reading
6. Bylaw Amendment 08-624- Amendment to Sewer System Map – 273 Country Way – 2nd Reading
K. TOWN ADMINISTRATOR’S REPORT
L. OLD BUSINESS
M. NEW BUSINESS
N. COUNCIL COMMENTS
O. EXECUTIVE SESSION – Negotiations, Litigation, Real Property, as May Be Required
P. ADJOURN
Wednesday, June 4, 2008
Citizens comment - Frank Falvey (audio)
From the Franklin Town Council meeting 6/4/08.
Time: 4 minutes, 18 seconds
MP3 File
My notes as recorded during the meeting were:
Citizens comment -Frank Falvey
with Fiscal year completed, audit report should have been completed by now
audit should be ready for the election, in case there is something revealed that could have bearing on the vote
why hasn't this been completed?
Audit firm probably should not be renewed for next year
procedures for comments and feedback for dialog is flawed
Inappropriate and incorrect
on an unrelated matter, what is being done in Franklin with regards to the sale of cigarettes to minors
Time: 4 minutes, 18 seconds
MP3 File
My notes as recorded during the meeting were:
Citizens comment -Frank Falvey
with Fiscal year completed, audit report should have been completed by now
audit should be ready for the election, in case there is something revealed that could have bearing on the vote
why hasn't this been completed?
Audit firm probably should not be renewed for next year
procedures for comments and feedback for dialog is flawed
Inappropriate and incorrect
on an unrelated matter, what is being done in Franklin with regards to the sale of cigarettes to minors
Wednesday, March 26, 2008
Contract Signings (audio)
Miriam Goodman, the new School Business Administrator, signs her contract to start working in Franklin April 29th.
There is also a contract signing for the School Nurses.
The committee breaks for two minutes to process the paperwork.
Time: 5 minutes, 6 seconds
MP3 File
There is also a contract signing for the School Nurses.
The committee breaks for two minutes to process the paperwork.
Time: 5 minutes, 6 seconds
MP3 File
Tuesday, March 25, 2008
SchCom: Miriam Goodman
Miriam Goodman, the successful candidate for the Business Administrator position for the Franklin School Department, signed her new contract this evening and wil start work April 29th.
Given the FY09 budget situation, she will have her work cut out for her!
I wish her all the best.
Wednesday, March 12, 2008
Interview: Miriam Goodman (audio)
The Franklin School Committee interviews Miriam Goodman, the fourth of four candidates for the vacant School Business Administrator role. Each member of the committee took a turn asking questions. The same set of questions was used for all candidates.
Time: 24 minutes, 27 seconds
MP3 File
Time: 24 minutes, 27 seconds
MP3 File
Interview: David Proule (audio)
The Franklin School Committee interviews David Proule, the third of four candidates for the vacant School Business Administrator role. Each member of the committee took a turn asking questions. The same set of questions was used for all candidates.
Time: 27 minutes, 54 seconds
MP3 File
Time: 27 minutes, 54 seconds
MP3 File
Interview: Ann Giombetti (audio)
The Franklin School Committee interviews Ann Giombetti. The second of four candidates for the vacant School Business Administrator role. Each member of the committee took a turn asking questions. The same set of questions was used for all candidates.
Time: 24 minutes, 31 seconds
MP3 File
Time: 24 minutes, 31 seconds
MP3 File
Interview: Patricia Lange (audio)
The Franklin School Committee interviews Patricia Lange. The first of four candidates for the vacant School Business Administrator role. Each member of the committee took a turn asking questions. The same set of questions was used for all candidates.
Time: 42 minutes, 6 seconds
MP3 File
Time: 42 minutes, 6 seconds
MP3 File
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