HomeMy WebLinkAboutAudit Committee Minutes 06 09 2010_201402041939431626
Town of Nantucket
Audit Committee
Minutes – Audit Committee Meeting, held, June 9, 2010
Approved 04/26/2011
A duly noticed meeting of the Audit Committee was held in the conference room at 16 Broad
Street on Wednesday, June 9, 2010 commencing at 10:30 AM.
Present: Chairman Patty Roggeveen, Jim Kelly, Rick Atherton,
Absent: None
Also present: Constance Voges, Debbie Dilworth, Whitey Willauer, Libby Gibson, and Barbara
Dakin, and Deb Palmer
Call to Order:
Ms. Roggeveen called the meeting to order at 10:30 AM.
Announcements/Updates:
Welcome Barbara Dakin to the Audit Committee meeting
Update on all the reports being submitted on time:
o Snow and Ice, July 2010
o CPC reports, August & September, 2010
o Balance Sheet Reporting and all related reports September, 2010
o Free Cash approval, September 2009
o Schedule A submitted October 2009 : Approved March 2010
o FY2009 Audit‐ January, 2010 – Unqualified Opinion
o Free Cash update, March 2010
o 2010 reporting, during FY2010
.
New Business:
Minutes – Audit Committee
May 26, 2010 Page 2 of 2
Received letter from Gerry Perry saying that they did a great job getting everything
caught up, and the Finance Department needs to keep to the schedule of reporting
Old Business:
Jim Kelley stated the members of the Audit Committee all collectively agree that the
resources of the Finance Department and Town administration are finite resources, and
should be applied in the best way to get the results that the Town of Nantucket is
looking for. We should not be asking for all the information at once, so that the Finance
Department is not always chasing the horse all the time.
Libby Gibson stated that Connie is under estimated with the accomplishments and there
is a long way to go, along with having the Free Cash certified in September of 2009, and
that should not be glassed over. The Finance Department worked really hard with the
support from members of the Audit Committee. Libby Gibson requested that The
Department of Revenue give the Town of Nantucket a Financial Management Review
down the road in a couple of years when the town is more up to date with the
Abrahams report, and the many issues that need to be resolved.
Barbara Dakin reported that over the past three to four years it has been difficult for the
Finance Department to file the reports to her. Over the last fifteen months, however,
the Finance Department has been able to complete three years of Audits. Barbara is
very pleased with the Town of Nantucket and the Management letter for FY2009 with
regards to the unqualified opinion. The Town of Nantucket had 12 prior incompletes
tasks and now there are 5 incomplete tasks with one partially completed task
outstanding. She is also very pleased to have had the Free Cash certified on time.
Future Agenda: Financial Management Review
Date of Next Meeting:
June 29, 2010
Adjournment: Patty Roggeveen asked for a motion to adjourn that was “so moved” by Mr.
Kelley. The meeting was adjourned at 10:50 AM.
Prepared by Deborah Palmer