2/28/1994 BOARD OF SELECTMEN Minutes

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' •a • 4 a Board of Selectmen Minutes February 28, 1994 Communication from the Waterways Commission re: Funds for Full-timeHarbormaster: To allow the Harbormaster's request for additional hours during the month of March, Selectman Vaccaro recommended to utilize funding s appropriated for waterways assistants. At the May Special Town Meeting, the Board can request replacement j of funds. The proposal is acceptable with the Board and waterways Commission Chairman. Auditors - Fit Interview: 4 I Frank Giron, a partner with the auditing fmn of lielanson, Greenwood and Company was present to discuss Mshpee's financial statements with the Board. 1 i It is Melanson and Greenwood's opinion that 1 lashpee is in accordance with generally accepted accounting principals With three exceptions which are common in all municipalities in the state of Massachusetts. The Town does not maintain fixed asset records in accordance with generally accepted accounting principals indicated Ir. Giron. The pension liability is not recorded as a liability in the financial statement and the amount of accrued vacation and sick time that employee's have earned is not recorded as a liability. Upon review of the financial statements, Mr. Giron indicated that the accounting records have been maintained very well. The accounting system in place is working effectively. b&. V hI itenour indicated that he is pleased with the financial performance of the community. He recommended to continue the trend to remain conservative-and develop a stronger capital improvement plan. Discussion of Ladder Signs: 1 a Mr. Taylor submitted information to the Board relative to Ladder Signs dated February 24, 1994. As noted by Tong Ferragamo of the Design Review Committee,ladder signs are difficult to control and mainta m* . Comprehensive guidelines should be developed for ladder signs indicated Mr.Ferragamo.