of disclosures regarding the “Draft” copy entitled “Financial Statements and Independent Auditor’s Report”
The following contains excerpts from said DRAFT “SCHEDULE OF FINDINGS AND RESPONSES – CONTINUED 2018-001 Expenditure Controls”. Page 46 (pictured below).
tfa queries how TOF monthly expenditures are subsequently being paid as TOF has not had a regularly scheduled Council Meeting since June 8, 2020. In accordance with the following:, “Criteria or Specific Requirement: Expenditures are to be reviewed by the town council befote being submitted for payment”.
“Effect: Without verification, it is possible to pay vendors incorrect amounts, duplicate payments, or possibly pay for fraudulent expenditures“. Emphasis added.
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