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GHAIRLES E . DI DESA & Go. <br /> CERTIFIED PUBLIC ACCOUNTANTS <br /> 10 HIGH STREET MEMBERS <br /> CHARLES E.DIPESA.C. P.A. BOSTON,MASS.0`2UO MASS.C.P.A. <br /> WILLIAM F.DIPESA.C. P. A. N.A.A. <br /> JOHN F.OTERI.C.P. A. _ <br /> 617-423-3555 <br /> September <br /> 19 <br /> 1979 I <br /> _ I � <br /> To The Board of Selectmen <br /> Town of Mashpee <br /> Mashpee, Massachusetts <br /> Gentlemen: <br /> we have examined the Financial Statements of the various <br /> funds and account group of the Town of Mashpee for the year ended <br /> June 30, 1979, listed in the foregoing table of contents. our 1 <br /> examination was made in accordance with generally accepted auditing <br /> + standards, and accordingly, included such tests of the accounting <br /> records and such other auditing procedures as we considered necessary <br /> in the circumstances. <br /> j . . <br /> The Town maintains its financial records on a basis <br /> i <br /> prescribed by the commonwealth of Massachusetts, which practices <br /> differ in certain respects from generally accepted accounting <br /> >inci les set forth in pronouncements of the 'American in <br /> of <br /> p P <br /> Certified public Accountants and the National committee on Governmental <br /> Accounting. The principal differences are: <br /> The use of the cash method to record revenues <br /> other than real estate and personal property <br /> taxes, whereas generally accepted accounting' <br /> principles require the use of the modified <br /> accrual basis; <br /> A record of general fixed assets is not <br /> required by the commonwealth; and <br /> The pension expense is recorded on the <br /> pay-as-you-go method, whereas generally <br /> accepted accounting principles require <br /> the use of a method which results, as a <br /> minimum, in a provision for pension <br /> expense equal to the sum of normal cost <br /> CHARLES E. DIPESA & Co., BOSTON, MASS, (617) 423-3555 - <br />