Laserfiche WebLink
N- <br /> 2. Use of the pay-as-you-go basis for recording <br /> pension expense for retired employees participating <br /> in the county pension plan; whereas generally <br /> accepted accounting principles require the use <br /> of a method which considers, at a minimum, normal <br /> cost, interest on unfunded prior service cost, <br /> and amortization of unfunded vested benefits for <br /> participants in pension plans. <br /> i <br /> In addition, as discussed in IV, the Mashpee Tribe initiated <br /> a class action suit on December 17, 1981 regarding properties within 1 <br /> the Town of Mashpee. The ultimate outcome of the suit and the .. <br /> ,related effect on real estate property taxes cannot presently be <br /> determined and no provision for any liability that may result has <br /> been made in the financial statements. <br /> In our opinion, except for the effects on the general fund <br /> of the matters referred to above, the accompanying financial statements <br /> -present fairly the assets, other than fixed assets, and liabilities <br /> of the various funds and group of accounts of the Town of Mashpee, <br /> -Massachusetts as of June 30, 1982, and their respective changes in <br /> ;fund balances, and revenues and expenditures for the year ended <br /> June 30, 1982 in conformity with generally accepted accounting <br /> principles applied on a basis consistent with that of the preceding <br /> Year. <br /> Respectfully submitted, <br /> CHARLES E. DI PESA & CO. <br /> )12, /a Q <br /> j <br /> ertified Public Ac ountant <br /> f <br /> ach <br /> 2 - <br /> G,A.RLES E.DIPESA&Co..BOSTON,MASS.(617)423-3555 <br />