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• <br /> GHARLES E . DIPESA & GO. <br /> CERTIFIED PUBLIC ACCOUNTANTS <br /> 30 HIGH STIREET <br /> CHARLES E. DIPESA, C. P. A. MEMBERS <br /> WILLIAM F. DIPESA, C. P. A. HOSTON,MASS.02UO A. I. C.P.A. <br /> C.P.A. <br /> M5. <br /> JOHN F. OTERI, C. P. A. A5N A A <br /> 617-423-3555 <br /> November <br />• 21 <br /> 1980 <br /> To the Board of Selectmen <br /> Town of Mashpee <br /> Mashpee, Massachusetts 02649 <br />• <br /> Re: Accountants ' Opinion - <br /> Certified Audit <br /> Gentlemen: <br />• <br /> We have examined the financial statements of the various <br /> funds and general long-term debt accounts of the Town of Mashpee, <br /> Massachusetts for the year ended June 30 , 1980 . Except as explained <br /> in the following paragraphs, our examination was made in accordance <br /> • with generally accepted auditing standards and, accordingly, included <br /> such tests of the accounting records and such other auditing <br /> procedures as we considered necessary in the circumstances . <br /> As is the practice with many municipalities in the <br /> • Commonwealth of Massachusetts, the Town does not maintain records of <br /> the historical cost of its general fixed assets . Accordingly, a <br /> statement of general fixed assets has not been provided as required <br /> by generally accented accounting principles. <br /> • The Town follows accounting policies prescribed by the <br /> Commonwealth of Massachusetts which vary in certain respects from <br /> generally accepted accounting principles . The principal differences <br /> required by the Commonwealth are as follows: <br /> 1. Use of cash basis reporting for general fund <br />• revenues other than real estate and personal <br /> property taxes ; whereas generally accepted <br /> accounting principles require the use of the <br /> modified accrual basis to record motor vehicle <br /> excise tax, tax titles and possessions . <br /> • <br /> -1- <br /> CHARLES E.DIPESA&Co.,BOSTON,MASS.(617)423-3555 <br />