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The committee identified unresolved audit questions, a past staffing-related weakness in financial review controls, and ongoing cash-reconciliation problems between the Town and CMLP systems. It plans to draft recommendations to the Select Board and CMLP Board, while seeking additional information from the auditor at its next meeting.
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The review found that staff turnover previously weakened second-level checks on ledger postings and journal entries, although the finance team is now fully staffed. Cash reconciliation through November 2024 was substantially complete, with the December close expected shortly, but differences remain between the Town’s Munis system and CMLP’s NISC system. The committee will examine auditor selection, system integration, internal controls, and the remaining audit discrepancies before making recommendations.
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