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i <br /> Michael J. Cicoria <br /> CERTIFIED PUBLIC ACCOUNTANT <br /> 4 COLONEL DRIVE ; <br /> BOURNE. MASSACHUSETTS 02532 <br /> (617) 759.6761 <br /> AUDITORS' REPORT ON INTERNAL CONTROLS <br /> i <br /> i <br /> Board of Selectmen <br /> Town of Mashpee i <br /> Mashpee, Massachusetts <br /> Honorable Selectmen: <br /> We have examined the financial statements of the Town of Mashpee, <br /> Massachusetts for the year ended June 30, 1986, and have issued our report i <br /> thereon, which was qualified in several respects, dated October 30, 1986. As 4 <br /> part of our examination, we made a study and evaluation of the system of 4 <br /> internal control of the Town of Mashpee to the extent we considered necessary to <br /> evaluate the system as required by generally accepted auditing standards and the <br /> standards for financial and compliance audits contained in the U.S. General <br /> Accounting Office Standards for Audit of Governmental Organizations, Programs, !! ' <br /> Activities and Functions. For the purpose of this report, we have classified <br /> the significant internal accounting controls in the following categories: <br /> A. Cycles of the Entities' Activity <br /> . Treasury or financing <br /> . Revenue/receipts <br /> . Purchases/disbursements <br /> External financial reporting <br /> B•. Financial Statement Captions <br /> Cash and cash equivalents <br /> Receivables <br /> Payables and accrued liabilities <br /> . Debt <br /> Fund balance <br /> C• Accounting Applications <br /> • Billings <br /> i <br /> • Receivables <br /> • Cash receipts <br /> • Purchasing and receiving <br /> • Accounts payable <br /> • Cash disbursements �! <br /> • Payroll <br /> General ledger <br /> 3 <br />