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• <br /> • <br /> 2 . Use of the pay-as-you-go basis for recording <br /> pension expense for retired employees participating <br /> in the county pension plan; whereas generally <br /> accepted accounting principles require the use <br /> • of a method which considers , at a minimum, normal <br /> cost, interest on unfunded prior service cost, <br /> and amortization of unfunded vested benefits for <br /> participants in pension plans . <br /> In our opinion, except for the effects on the general fund <br /> of the matters referred to above, the accompanying financial <br /> statements present fairly the assets, other than fixed assets, and <br /> liabilities of the various funds and group of accounts of the Town <br /> of Mashpee, Massachusetts as of June 30, 1980, and their respective <br /> • changes in fund balances, and revenues and expenditures for the <br /> year ended June 30, 1980, in conformity with generally accepted <br /> accounting principles applied on a basis consistent with that of <br /> the preceding year. <br /> Respectfully submitted, <br /> • <br /> CHARLES E. DI PESA & CO. <br /> v <br /> • Certified Public A . gent <br /> smw <br /> • <br /> • _ 2 _ <br /> • <br /> CHARLES E.DiPESA&Co., BOSTON.MASS.(617)423-3555 <br />