January 11, 2024 Finance Committee Regular Meeting Minutes–DRAFT

OFFICE OF THE SELECTBOARD

Finance Committee

TOWN OF HALIFAX, VERMONT

MINUTES OF THE SPECIAL MEETING

11 January 2024

 CALL TO ORDER

  • McAllister called the meeting to order at 6:00 pm (Recording started)
  • Patrick McAllister and Karen Christofferson, Finance Committee members present
  • Lee Todd, Town Auditor, also present, remotely

CHANGES AND ADDITIONS TO THE AGENDA

  • None noted

APPROVAL PREVIOUS MEETING MINUTES

  • Christofferson moved to approve the 15 November 2023 minutes with no changes. McAllister seconded. Minutes were approved.

OLD BUSINESS

  • None noted

NEW BUSINESS

McAllister welcomed Todd and began the discussion.  Prior to the meeting, McAllister circulated a link to the VLCT portal and at 7:21pm also shared the FAQ in pdf format to both Auditors. Todd noted that he had reviewed the VLCT Annual Auditor Reports FAQ.

McAllister advised the Statutory Deadlines as follows:

  • 30 January, last day to warn Auditor Meeting
  • 9 February, last day for Auditors to meet
  • 23 February, Last day to distribute Audit Report
  • 5 March, Town Meeting

McAllister also noted that the Auditors are an independent body and make their own decisions, but if they want the Audit Report to appear in the Town Annual Report they will have to complete their work and issue their report in time for it to go to the printer, currently the date is unknown but it would be prudent to work to a 30 January deadline.

Todd noted that the first step would be to get information from the Town Treasurer as soon as possible.

McAllister noted that the Auditor meeting must be warned 10 days prior.  McAllister noted that the Auditors should have all the information required before their officially warned meeting so that they can complete their work at the meeting.

McAllister noted that the time frame the Auditors will be focusing on is the FY23 which is July 1 2022 to June 30, 2023.  Christofferson suggested arranging work sessions with the Treasurer.

Christofferson shared her screen with the the prior Town Auditor Report as of June 30, 2020 for reference. McAllister noted that the Auditor Report may also be found on the Town website.

Todd noted that after receiving information from the Treasurer the Auditors would like to meet with the Treasurer and requested the presence of one of the SB Finance Committee members join the meeting. McAllister and Christofferson agreed to make themselves available, but that due to Open Meeting Law it would only be one of them.

McAllister advised that from a municipal accounting perspective, Land and Equipment are not considered financial assets. McAllister noted that the auditors will not need to focus on Land and Equipment but that they will necessarily focus on items such as cash, loans, trust accounts, investment accounts, and CDs.

McAllister requested that the Auditors include the Selectboard Stipend amount in their report as that is a statutory function of the Auditors.  McAllister and Christofferson noted the request has a statutory basis but that it had not been included in prior Auditor reports.  Christofferson and McAllister noted the $9,000 amount from the Town Budget analysis prepared by Treasurer.

Todd requested a copy of the draft minutes so that he could share it with his co-Auditor, Erin Lovern who was unable to attend tonight’s meeting.   Todd also said he intended to email Patty as well.  McAllister and Christofferson suggested that the Auditors may want to start by asking the Town Treasurer for copies of the FY23 Treasurers Report, or the current draft.

Christofferson noted that the Town Treasurer is very experienced with the process and lead up to Town Meeting and will be helpful to the Auditors in completing their work. McAllister also noted that the Selectboard and Town are cognizent that the Auditors were appointed by the Selectboard after no residents stood for election and that time is tight. Christofferson and McAllister advised Todd of their willingness to support the Town Auditors in any way they can, while still maintaining the independence of the Auditors.

OTHER BUSINESS

  • None noted

 

HEARING OF VISITORS

  • In response to a question by Christofferson, Todd described how he became interested in the Auditor role and that he had experience with small town government many years ago and wanted to be helpful after moving to Halifax
  • No further comments or questions

 

ADJOURNMENT

McAllister moved to adjourn the meeting. Christofferson seconded. McAllister adjourned the meeting at 6:43 pm  (Recording stopped)

Meeting recording: https://youtu.be/yO2lD1RkwT8