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i <br /> inadequate because of changes in conditions or that the effectiveness of the design <br /> and operation of policies and procedures may deteriorate. <br /> For the purpose of this report, we have classified the significant internal control <br /> structure policies and procedures in the following categories: <br /> ACCOUNTING CONTROLS: I� <br /> I <br /> • Treasury/financing <br /> • Revenues/receipts <br /> • Purchases/disbursements <br /> • External financial reporting <br /> For all of the control categories listed above, we obtained an understanding of the <br /> design of relevant policies and procedures and whether they have been placed in <br /> operation, and we assessed control risk. <br /> Our considerations of the internal control structure would not necessarily disclose <br /> all matters in the internal control structure that might be material weaknesses under <br /> standards established by the American Institute of Certified Public Accountants. A <br /> material weakness is a reportable condition in which the design or operation of the <br /> specific internal control structure elements does not reduce to a relatively low level <br /> the risk that errors or irregularities in amounts that would be material in relation to <br /> the general purpose financial statements being audited may occur and not be <br /> detected within a timely period by employees in the normal course of performing <br /> their assigned functions. We noted no matters involving the internal control struc- <br /> ture and its operation that we consider to be material weaknesses as defined above. <br /> We noted other matters involving the internal control structure and its operation that <br /> we have reported to the management of the Town of Mashpee, Massachusetts in a <br /> separate letter dated September 23, 1994. <br /> This report is intended for the information of the Town's management and all applic- <br /> able federal and state agencies and should not be used for any other purpose. This <br /> restriction is not intended to limit the distribution of this report which, upon accept- <br /> ance by the Town of Mashpee, Massachusetts, is a matter of public record. <br /> Greenfield, Massachusetts f U <br /> September 23, 1994 <br /> i <br /> . i <br /> 21 <br />