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- 3 - <br /> All investment activities should be recorded <br /> in the cash receipt and disbursement records . <br /> Rollovers could be noted in a memo form and <br /> recorded in the investment ledger. <br /> We recommend that an investment ledger be <br /> maintained that reflects all investment activity <br /> of the town. <br /> 2) Cash Flow - Cash flow projections should be <br /> set up based on historical and current data to <br /> assist the treasurer in investment decisions and <br /> increase the investment income of the town. <br /> 3) Cash - Several problems were encountered in <br /> reconciling general cash. One of the problems <br /> is related to investments noted above. Another <br /> of the problems is with the interaction of <br /> payroll cash. The payroll system is in the <br /> process of changing to another service bureau <br /> and this should alleviate the problems . <br /> With regards to future bank reconciliations, we <br /> suggest the treasurer ' s office utilize a "cash <br /> proof" method which would reconcile receipts and <br /> disbursements as well as the current cash balance. <br /> This method would greatly assist in locating any <br /> variances . <br /> CHARLES E.DIPESA&Co..BOSTON.MASS.(617)423-3555 <br />