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HomeMy WebLinkAbout1982-01-19TOWN OF NEWCASTLE CONFIDENTIAL NOTES FROM A MEETING OF THE AUDITCOMMITTEE Thw meeting was held on January 19 1982 at 10:15 in the Meeting Room in the Bell Building. The following were in attendance: Mayor G. B. Rickard Councillor Diane Hamre Councillor Marie Hubbard Councillor R. Bruce Taylor Treasurer K. Campbell Chief Administrative Officer, Don Smith Bernard Chandler, Representing the Audit Firm of Deloitte Haskins & Sells Deputy Clerk, G. Gray, Secretary Moved by Mayor Rickard and seconded by Councillor Hamre that Councillor Taylor be the Chairman for the meeting. The tentative agenda included: Staffing of the Audit Team Preparation of Financial Statements Outstanding Invoices from Hall Boards Hall Board Audits. Mr. Chandler stated that the Audit Team would be composed of the following: B. Chandler, Manager and Chartered Accountant Marie Malone Third Year Student Mark Ristow Second Year Student Germaine Rousseau, Junior Student. He proposed to be at the Town l or 2 days a week for approximately 4 weeks, February 15 through March 12 1982. The Treasurer suggested that the Auditors would prepare the Financial Statements this year because of the work involved in introducing the new Computer System, for the Treasury Department Mr. Chandler felt that the completed Financial Statements should be available by April 30 1982 and the Auditors could confirm the final position by the end of the first week in March 1982. - 2 January 19 1982 A discussion ensued regarding outstanding invoices of Community Hall Boards. The Treasurer stated that she had received some negative responses to her letter to each Board setting out the amounts outstanding at December 31 1981. Mr. Chandler reiterated that uncollectibles determined in 1981 must be written off in 1981. It will be necessary to determine between now and February 15 the amount which is uncollectible. External Audit of Hall Boards- The Treasurer suggested that it would be prudent, at this time, to review the activities of the Boards, to determine which Boards should be audited externally. Mr. Chandler said that, in the future, during a cursory review of all boards by the Treasurer, individual boards, not presently audited externally, could be selected for a more detailed audita There was a discussion related to the responsibilities of the Boards under the Community Recreation Centres Act. Councillor Taylor said that he was working on a Hand Book for Boards and workshops which he felt might resolve some of the present difficulties. Other Business - Councillor Taylor questioned the reduction in the amount raised by the farm assessment for the Federation of Agriculture. The Treasurer advised that she would look into the matter. Mayor Rickard asked about expenses which were credited to the wrong accounts and was advised that Department Heads should be examining budgets so that journal entries can be made. On Motion of Councillor Hamre and Mayor Rickard, the meeting adjourned at 11:45 a.m. c.c. Members of Council B. Chandler, Deloitte Haskns and Sells K. Campbell D. Smith