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AUDIT REPORT PRESENTATION fTATIOI — Mathew Hunt, CPA, Clifton Lrs nAlle <br /> Mr. Hunt introduced himself to the Board, and reported that effective January 1, 2014, Sullivan <br /> Rogers merged with Clift nL rsonAll nt a Top 10 National CPA firm. The merger will provide <br /> Mashpee with access to resources of a national firm with additional services available, as well as <br /> continuity of service by Sullivan & Rogers staff, all of whom have been retained in the merger. <br /> Mr. Hunt presented a basic summary review of the 2013 audit report. Cay portions of the audit <br /> included the following and were reviewed: <br /> * Auditor's Opinion on Financial Statement: Unqualified. No material misstatements were <br /> found. <br /> * Financial Highlights—General Fund Balance sheet <br /> Mr. Hunt stated that the 11 ashp rs actuarial approved liability number is $62.3 million dollars- <br /> * Net Long Terra Debt figure: $21: 000,000, way under the legal debt margin. <br /> *GAO OMB Report— Federal Aid Program. Matt Hunt reported that the Spacial Education <br /> grant slid not fife their final report on time, for two years in a row, a non-critical issue, but something <br /> that must be included in the audit report. <br /> * Management Letter <br /> 1 Abandoned property: $13,800 variance, which Mashpee a should investigate <br /> 2 Escrow Accounts <br /> 3) Fates & Risk Monitoring — advised for Mashpee <br /> Joyce Mason stated that the Mashpee Risk Assessment team is comprised of the Town Treasurer, <br /> the Town Accountant and the Assistant Town Manager. <br /> NEXT MEETING <br /> Monday, May 5, 2014, 6:00 Pel at Mashpee High School p'rincipal's Conference Room: Joint <br /> Meeting with Board of Selectmen. <br /> ADJOURNMENT <br /> As there was no further business;George Schmidt moved that the meeting be adjourned at 7:80 <br /> PM. Chris Avis seconded the motion. The motion was unanimously approved. <br /> Respectfully submitted, <br /> 8 36a <br /> Ina G. s 1 <br /> bohm <br /> Recording Secretary <br /> 5 <br /> 2 <br />