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of $1 ,000 , may be appropriated for the payment of the principal of <br /> such loan" . We question the use of excess loan proceeds for <br /> interest on temporary loans . <br /> We believe more attention should be focused on compliance with <br /> general laws as far as funding Town meeting articles from <br /> restricted funds . <br /> Schedule of Treasurer 's Receipts <br /> The Schedule of Treasurer ' s Receipts prepared by the office of <br /> Town Treasurer shows the date , amount and source of each receipt <br /> but does not show the account to be credited . The Town Accountant <br /> knows the account to be credited from remittance advices previously <br /> received from other departments . We believe this practice is <br /> i <br /> rather cumbersone and we recommend that the account to be credited <br /> be shown for all receipts on the Schedule of Treasurer 's Receipts <br /> and that the Accountant limit the use of remittance advices as an <br /> internal audit check on accounts credited . <br /> Since the S ' <br /> Schedule of Treasurer 's Receipts is a permanent <br /> record, we suggest that it be filed in a permanent type binder . <br /> Revised Municipal Accounting and Reporting System <br /> �I <br /> The Bureau of Accounts of the Massachusetts Department of <br /> Revenue has developed a revised accounting and reporting system for SII <br /> the towns and cities of the Commonwealth . The municipalities are <br /> encouraged to adopt this system which may be mandated during the <br /> next Couple of <br /> P years . The Town , because of present restraints in <br /> fundingu <br /> , may not choose to implement all revisions now; however , I� <br /> there are sections that could be done now which would help reduce I, <br /> administrative effort . <br /> j - <br /> Published material on this revision includes suggested <br /> classification of accounts on appropriations , receipts , and balance <br /> g <br /> i <br />