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Assessor ' s records. <br /> go TAX ASSESSOR <br /> We reviewed the tax abatements and exemptions authorized by <br /> this department. As a result of this review we noted several minor <br /> discrepancies in their abatement and exemption logs. <br /> RECOMMENDATION <br /> We recommend the Tax Assessor' s department develop a <br /> procedure whereby they maintain year to date balance of the respective <br /> annual overlay amount authorized at Town Meeting which is adjusted <br /> as abatements and exemptions are authorized. Periodically they <br /> should communicate with the Town Accountant and Town Treasurer to <br /> insure all parties are in agreement with the outstanding overlay <br /> balance. jI <br /> SAMUEL G. DAVIS TRUST FUND <br /> While reviewing the available trust fund documentation, we <br /> noted that the income provided by the Samuel G. Davis Fund has been <br /> deposited in the General Fund. However these proceeds have not been <br /> used as stated in the trust indenture. <br /> According to the terms provided by the Probate Court, the <br /> annual income remaining after the necessary provisions for educational <br /> prizes and medals, should be used to reduce the principal of any <br /> indebtedness assumed to build the addition to the Samuel G. Davis <br /> School. As of June 30, 1978 the Town has on hand $6,872.69 of income <br /> • which is available to reduce future principal payments.. <br /> CHARLES E. DIPESA & CO., BOSTON, MASS, (617) 423-3555 - <br />