1969-1987-FISCAL AUDITS - Laserfiche WebLink

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i Board of Selectmen Page two Town of Mashpee, Massachusetts The management of the Town of Mashpee, Massachusetts is responsible for establishing and maintaining internal control systems used in administering federal financial assistance programs. In fulfilling that responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of internal control systems used in administering federal financial assistance programs are to provide management with reasonable, but not absolute, assurance that, with respect to federal financial assistance programs, resource use is consistent with laws, regulations and policies; resources are safeguarded against waste, loss and misuse; and reliable data are obtained, maintained and fairly disclosed in reports. Because of inherent limitations in any system of internal accounting and administrative controls used in administering federal financial assistance programs, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the systems to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with procedures may deteriorate. Our study included all of the applicable control categories listed above. During the year ended June 30, 1987, the Town of Mashpee, Massachusetts had no major federal financial assistance programs and expended 62% of its federal financial assistance under the following nonmajor federal financial programs: Federal Revenue Sharing P.L. 92-512 Land and Water Conservation Fund Grant/State Assistance Program With respect to internal control systems used in administering these nonmajor federal financial assistance programs, our study and evaluation included consider- ing the types of errors and irregularities that could occur, determining the internal control procedures that should prevent or detect such errors and irregu- larities, determining whether the necessary procedures are prescribed and are being followed satisfactorily, and evaluating any weaknesses. With respect to the internal control systems used solely in administering the other nonmajor federal financial assistance programs of the Town of Mashpee, Massachusetts, our study and evaluation was limited to a preliminary review of the systems to obtain an understanding of the control environment and the flow of transactions through the accounting system. Our study and evaluation of the internal control systems used solely in administering these nonmajor federal financial assistance programs of the Town of Mashpee, Massachusetts, did not extend beyond this preliminary review phase. Our study and evaluation was more limited than would be necessary to express an opinion on the internal control systems used in administering the federal financial assistance programs of the Town of Mashpee, Massachusetts. Accordingly, we do not express an opinion on the internal control systems used i administering the federal financial programs of the Town of Mashpee, Massachusetts. CICORIA, FANTASIA&COMPANY, PC CERTIFIED PUBLIC ACCOUNTANTS