AUDITORS MEETING
TOWN OF HALIFAX, VERMONT
MEETING MINUTES – DRAFT
January 22nd, 2025
5:00 PM AT THE HALIFAX TOWN OFFICE
CALL TO ORDER
The meeting is called to order at 5pm. Auditors present are Kathryn Shaifer, Erin Lovern and Adam Morrow.
CHANGES AND ADDITIONS TO THE AGENDA
No changes.
OLD BUSINESS
The questions are reviewed that were put forth in the auditors meeting of 1/16/2024. In reference to the discrepancy between Mary Brewster’s Delinquent Tax Report and Patricia Dow’s final number, Mary told Katie that it has to do with Patricia using a “Cash” system and Mary Brewster’s report reflecting those delinquent taxes as a yearly number. Mary said she would get the auditors the information on how these reports correspond to each other.
Erin received answers from Patrica Dow in response to her emailed questions. This email starts with definitions for all the funds, reserves and donation categories from the bank statements and this list of definitions will be included in the auditor’s notebook.
The answer to the question about why the 2 CDs were closed out is that these had to do with property tax sales and the overpayment. These funds have come due, so the CDs were cashed out and sent to the original owners.
The closing out of the Scott Fund and the Eames fund (totaling $10,285) was a selectboard decision and those funds were used to cover a deficit of the town for 5/29/24.
Also in her email, Patty gave an explanation for the “net income/loss” of $70,275. This answer revealed new questions that will be handled in the NEW BUSINESS section of these minutes.
In the financial printouts provided by Patricia Dow in response to Erin’s request, the auditors were able to clear General Fund 1000 from their audit and are still continuing to audit General Fund 1100 for information, verification and transactions by account.
Kathryn and Adam also began their audit of the town’s orders, followed those up with invoices and cancelled checks and discuss their findings. Generally, they agreed that most of it was clear, although they need to talk with Patricia Dow to locate some of the follow up items to complete their audits.
NEW BUSINESS
A list of new or unanswered questions is compiled.
Adam will contact Patricia Dow regarding the provided asset numbers from the bank statements and how they are shown on the balance sheet. At this time, he will also look for the items not yet located in his town audit and review the payroll system with the town’s ROAD CREW and SPECIAL PROGRAMS.
Kathryn will follow up with Mary Brewster and the reconciliation of the Delinquent Tax Report.
Erin will review with Karen Christofferson the remaining question about the “net income/loss” of $70,275 and review the P&L reports. She will also follow through with finding the $14,000 which appears remaining for the Scott and Eames FUNDS which have been zeroed out.
All the auditors will continue their auditing in the next week.
By Tuesday January 28th, 2024 the auditors will determine if an additional Auditors Meeting will be needed, which will allow sufficient time for a meeting warning.
HEARING OF VISITORS
No visitors.
ADJOURNMENT
The meeting was adjourned at 7:27 PM.