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I <br /> 1 <br /> i <br /> i <br /> ` � I <br /> I � <br /> f <br /> COST OF VESTED VACATION AND SICK LEAVE BENEFITS <br /> PRIOR YEARS FINDING <br /> .iC <br /> i <br /> The Town has not determined the accumulated cast of vested <br /> i <br /> vacation and sick leave benefits for Town employees as of June <br /> 30, 1989; therefore, the Town' s liability has not been reflected <br /> in the fiscal year 1989 financial statements. The National Cour,- <br /> - cil on Governmental Accounting in their Statement # "Accounting <br /> and Financial Reporting Principles for Claims and Judgments and <br /> Compensated Absences" advocates that the combined financial <br /> statements include the cast of vested vacation and sick leave <br /> benefits. Statement ti was recently included as part of the <br /> "Codification of Governmental Accounting and Financial Reporting <br /> Board Standards" issued by the Governmental Accounting Standards <br /> Board (GASB). We feel the Town should develop the necessary { <br /> i <br /> records to determine the cost of vested vacation and sick leave <br /> benef its. <br /> F <br /> CURRENT YEARS STATUS � f <br /> The Town has taken no action in regards to this finding. <br /> k <br /> i <br /> 13 <br />