Audit blasts Webster’s financial management
Most notably,
The town is a self insurer and pays claims directly, with employees paying a 25 percent share.
The town once maintained a surplus in the account, but it didn't fully fund its 75 percent by about a half million dollars a year for four years in a row. This resulted in a more than
As a consequence, town meeting voters will be asked to approve
The town is taking steps to move to state group insurance, which should result in significant savings, he said. However, a move would need to be negotiated with employees.
Maintenance of capital projects was the second most significant issue the auditor found. Some accounts ran negative amounts while others had excess money, and therefore many amounts have to be transferred between accounts for balancing, the administrator said.
"It'll probably still be a negative net amount,"
But the town hadn't borrowed a
The school issue was resolved earlier this year when selectmen authorized town Treasurer
However, the late borrowing resulted in an approximately 2 percent increase on the interest rate because it is now taxable, the administrator said. It equates to about
The auditor also noted a pair of town meeting transfers that occurred in 2007 but weren't recorded until 2017.
The report said town Accountant
Also, the auditor found deficiencies in internal controls, pointing out three reconciling items that were present in 2015 and 2016 that resulted in an understatement of
It has resulted in a corrective action plan for the accountant and treasurer to reconcile cash on a monthly basis, effective immediately, the audit report said.
During the fiscal year in question, ending
On Wednesday,
"There are positions in
Meanwhile,
Asked for his view of the Roselli audit,
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