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I <br /> DEPOSITS HELD/ESCROW ACCOUNTS <br /> 'i <br /> ' The Town's Planning Department and Health Department receive monies from <br /> various contractors developers,p etc. as deposits to be held in escrow until the com- <br /> pletion of a project. These funds are turned over to the Town Treasurer and the <br /> Town acts as an agent for those funds. <br /> it <br /> We found that there were no detailed comprehensive lists of escrow deposits <br /> available. In addition, these funds are not reported in the Town's general ledger <br /> balances. <br /> i <br /> �I <br /> We recommend that each department receiving escrow deposit money maintain a <br /> detailed comprehensive list of all escrow deposits. We further recommend, given <br /> the agency relationship the Town has in regard to these escrow deposits, that all <br /> escrow deposits be included in the Town's general ledger in the agency fund. <br /> AMBULANCE RECEIVABLES <br /> Receivables related to Town-provided ambulance service is not maintained in the <br /> Town's general ledger. This information is maintained by Fire Department per- <br /> sonnel. <br /> �I <br /> Ambulance receivables represent a sizable Town asset (approximately $ 73,000 as <br /> of June 30, 1994). Including the ambulance receivables in the Town's general <br /> ledger not only improves accounting control but may also serve as a catalyst to <br /> aggressively pursue collection when warranted. <br /> li <br /> We recommend the Town include the ambulance receivable balance and activity in <br /> its general ledger. <br /> i! <br /> 3 <br />