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SAMUEL G. DAVIS TRUST FUND <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. During the fiscal year the Trustee - New England Merchants <br /> I { <br /> Bank, distributed $238 as scholarship awards and $325 to the Mashpee <br /> School Committee for such purposes . Therefore it is our opinion that <br /> as of June 30, 1979 the Town of Mashpee has $9, 034 available to reduce <br /> future principal payments. <br /> PURCHASE ORDER SYSTEM +� <br /> As part of our audit we performed a sample test of bid <br /> notices, contracts, purchase orders and invoices. It is apparent the <br /> Town officials have made a concerted effort to improve this area over <br /> the past year. During our audit, we did not come upon any significant ' <br /> violations with either Town by-laws or Commonwealth of Massachusetts <br /> statutes. <br /> CONCLUSION <br /> It is our opinion the Town of Mashpee implement the above <br /> recommendations as soon as possible. Such action will allow Town <br /> officials to become better managers, strengthen internal controls, and <br /> Provide a solid foundation in which they can more effectively and <br /> efficiently monitor, protect and control .the financial viability of <br /> the Town of Mashpee. <br /> CHgR�ES E, DIPESq 8c Co., BOSTON, Mass, (617) 423-3555 <br />