News icon

News

Share: 

04/10/2018

Accountant's report on audit deficiencies, remediation postponed due to illness

The Town Council on April 9, 2018 deferred a presentation on the fiscal 2017 audit to its May meeting.

The council was scheduled to hear from Jennifer Conners of Runyon Kersteen Ouellette at the April 9 meeting, but postposed the presentation because of her illness.

"We did have significant deficiencies on our municipal audit for the first time in Cape Elizabeth history, these were the results of School Department accounting issues," said Town Council Chair Jessica Sullivan. "We have taken corrective action already and there are going to be more (re)mediation actions, which the auditor was going to inform us about, but we will have to wait until May for that," she said.

A report issued by Runyon Kersteen Ouellette cites two "significant" deficiencies, one in the trial balance and revenue and expenditure reports; the other in accounting of capital assets. The report comments on five other issues, but does not classify them as significant.

In all cases the town has responded and formulated a corrective plan.

"We are bound to report the situation to our community, we are bound to let them know what corrective action has taken place and what is planned," said Sullivan. "That was the focus and purpose of this (agenda) item. So what we'll do is we'll revisit that in May when hopefully she (Conners) has recovered from the flu," Sullivan said.