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North Stonington Board of Finance
Draft Meeting Minutes
of
Wednesday, July 17, 2013
New Town Hall
North Stonington, CT
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- Call to Order: Chairman Dan Spring called the meeting to order at 7:45 PM. Brent Woodward, Mike Urgo and Emile Pavolvics were present at the start. Peter Nimirowski arrived at 8:31 and Mustapha Ratib arrived at 8:35.
- Public Comments and Questions: No comments or questions.
- Auditor’s Review: Sandra E. Welwood, LLC: The Town auditor, Sandra Welwood and associate Dan Pappalardo, provided the Board with the frame work for minimizing financial mistakes/misappropriations within the Town. The guidelines presented by Ms Welwood were issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) with the specific intent to reduce the risk of loss/misappropriation of assets and errors. Key elements are as follows:
- Control Environment
- Risk Assessment
- Control Activities
- Information and Communication
- Monitoring
- Documentation
The Board will evaluate the recommendations made and develop a plan/methodology to be used for continuous oversight for Town financial matters.
6. Tax Collector’s Suspense Report; Tax Collector’s Report: Discussion/ action on the Suspense Report was tabled pending BOS action. The Tax Collector’s report was reviewed and numerous comments made that will be forwarded to the tax collector for resolution.
7. Budget 2013-2014; Preview Capital Reports: - Nick Mullane agreed to provide a list of upcoming capital projects accompanied by financing considerations.
8. Future Strategies; Annual Report: Brent Woodward agreed to assist in the preparation of the Town’s annual report.
9. Previous Minutes:
10. Adjournment:
Respectfully Submitted,
\ BBW \
Brent B. Woodward
Secretary, Board of Finance
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