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Nantucket EOYR 16 TOWN OF NANTUCKET, MASSACHUSETTS REPORT ON APPLYING AGREED-UPON PROCEDURES OVER COMPLIANCE APPLICABLE TO MASSACHUSETTS SCHOOL DISTRICTS’ END-OF-YEAR FINANCIAL REPORT FISCAL YEAR ENDED JUNE 30, 2016 TOWN OF NANTUCKET, MASSACHUSETTS REPORT ON APPLYING AGREED-UPON PROCEDURES OVER COMPLIANCE APPLICABLE TO MASSACHUSETTS SCHOOL DISTRICTS’ END-OF-YEAR FINANCIAL REPORT YEAR ENDED JUNE 30, 2016 CONTENTS Page Independent Accountants’ report on applying agreed-upon procedures over compliance applicable to Massachusetts School Districts’ End-of-Year Financial Report 1-2 1 Independent Accountants’ Report on Applying Agreed-Upon Procedures Over Compliance Applicable to Massachusetts School Districts’ End-of-Year Financial Report To the Honorable School Committee Town of Nantucket, Massachusetts We have performed the procedures specified in the Massachusetts Department of Elementary and Secondary Education’s (ESE) Compliance Supplement applicable to the Massachusetts School Districts to the End-of-Year Financial Report (EOYR) prepared by the Town of Nantucket, Massachusetts (the “Town”) for the fiscal year ended June 30, 2016. We performed these procedures solely to assist the Town and ESE in evaluating the management’s assertion that the Town has complied with the ESE requirements applicable to the preparation and filing of a Massachusetts School Districts’ End-of-Year Financial Report. This agreed-upon procedures engagement was performed in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the responsibility of the specified users of the report. Consequently, we make no representation regarding the sufficiency of the procedures specified in the Massachusetts Department of Elementary and Secondary Education’s Compliance Supplement applicable to Massachusetts School Districts’ End-of-Year Financial Report for the purpose for which this report has been requested or for any other purpose. The associated findings with regards to the procedures performed are as follows: Schedule 1 – Revenue and Expenditure Summary Compliance Item #6. Determine how the expenditures for fringe benefits are assigned or allocated to Schedule 1 Employee Benefits - Insurance [5100, 5200]. Trace the reported cost to the detail in the accounting ledgers using the methodology indicated. These amounts should agree.  EOYR Line 2000, Column 5 should be increased from $977,238 to $994,055 with regards to employer retirement contributions. Corrective Action Taken: Item will be corrected in the End of Year Report amendment. 2 Schedule 1 – Revenue and Expenditure Summary (continued) Compliance Item #12. For expenditures from Federal Grants, State Grants and Special Funds determine amounts reported agree to the District ledgers and Final Financial Reports.  EOYR Line 3080, Column 9 should be increased from $119,642 to $159,835 with regards to athletic fund expenditures.  EOYR Line 3080, Column 10 should be increased from $527,473 to $588,158 with regards to school lunch expenditures. Corrective Action Taken: Items will be corrected in the End of Year Report amendment. We were not engaged to, and did not, perform an audit, the objective of which would be the expression of an opinion on the End-of-Year Financial Report for the fiscal year ended June 30, 2016. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. This report is intended solely for the use of the Town’s School Committee, management, and the ESE and is not intended to be and should not be used by anyone other than these specified parties. However, this report is a matter of public record and its distribution is not limited. Roselli, Clark & Associates Certified Public Accountants Woburn, Massachusetts March 6, 2017