I offer the following in response to some of the questions raised in "Where Are the East Greenbush Financials....Guest Post" dated Friday, September 30, 2011.
The April 20, 2011 Town Board authorization to execute a contract to retain Toski, Schaefer & Co., P.C. followed a competitive bid process consistent with the Town’s Purchasing Policy and was for audits over a three-year period, namely 2010 - 2012. Furthermore, the engagement of a new CPA firm to do an audit usually delay's the start and completion of an audit.
The Annual Update Document (AUD) for 2010 will be filed upon completion of the Toski, Schaefer & Co., P.C. audit and reflect the audited financials. This is preferable to filing the AUD using unaudited statements.
The CFAC has been reviewing monthly financial reports prepared by Town Comptroller Jim Breig. CFAC reviews 2011 as a separate and distinct accounting period. Audited 2010 Financials would only provide comparables and Year-end Fund Balances. Furthermore, I believe Comptroller Breig files a monthly report with the Town Board and the Town Clerk as required by §125 of the Town Law..
CFAC Meetings are announced on the Town's web page approximately one week in advance of the meeting (http://eastgreenbush.org/). For example,
"Citizens Fiscal Advisory Committee Meeting
The Citizens Fiscal Advisory Committee has scheduled a meeting for Thursday, September 15, 2011 at 7:00 p.m. The meeting will be held in the Community Room at Town Hall." and
"Citizens Fiscal Advisory Committee Meeting
The Citizens Fiscal Advisory Committee has scheduled a meeting for Thursday, October, 13 2011 at 7:00 PM. The meeting will be held in the Community Room at Town Hall and is open to the public."
CFAC is admittedly remiss in not posting minutes but is working on correcting this. CFAC hopes to have agendas and approved minutes on line soon.
Sincerely,
Pete Stenson, Chair Citizens Fiscal Advisory Committee
Mr. Stenson once again dances around the central issue. It is not rocket science to have an AUD and certified financials (however limited) in timely manner after the close of the 2010 fiscal year for a Town the size of East Greenbush. That's a fact. Any municipality with the fiscal issues which EG faces should have been fast off the blocks in getting an audit done immediately after the close of the 2010 fiscal year. Yet it took until April to engage a CPA. No hurry..... We're doing great!!
Bottom line Rick (and Pete), are we going to have some kind of performance report 10 or 11 months after the close of the 2010 fiscal year to look at as the 2012 budget is being considered????
831pm - EG does not jump because you say so! Your never-ending arrogance on this issue is amazing. Nothing is a fact and the world does NOT revolve around your personal agenda. And for your delicate ego - every single municipality around the Capital District is going thru exactly the same financial issues as East Grenbush, or don't you watch the evening news?! The performance report you so anxiously desire will be done when its done - and not a minute sooner - regardless of your continual complaining and accusations.
OSC requires and AUD report on April 1st following the close of the fiscal year....period. Neither Mr. Stenson nor anyone else gets to decide that this is inapropriate.
I offer the following in response to some of the questions raised in "Where Are the East Greenbush Financials....Guest Post" dated Friday, September 30, 2011.
ReplyDeleteThe April 20, 2011 Town Board authorization to execute a contract to retain Toski, Schaefer & Co., P.C. followed a competitive bid process consistent with the Town’s Purchasing Policy and was for audits over a three-year period, namely 2010 - 2012. Furthermore, the engagement of a new CPA firm to do an audit usually delay's the start and completion of an audit.
The Annual Update Document (AUD) for 2010 will be filed upon completion of the Toski, Schaefer & Co., P.C. audit and reflect the audited financials. This is preferable to filing the AUD using unaudited statements.
The CFAC has been reviewing monthly financial reports prepared by Town Comptroller Jim Breig. CFAC reviews 2011 as a separate and distinct accounting period. Audited 2010 Financials would only provide comparables and Year-end Fund Balances. Furthermore, I believe Comptroller Breig files a monthly report with the Town Board and the Town Clerk as required by §125 of the Town Law..
CFAC Meetings are announced on the Town's web page approximately one week in advance of the meeting (http://eastgreenbush.org/). For example,
"Citizens Fiscal Advisory Committee Meeting
The Citizens Fiscal Advisory Committee has scheduled a meeting for Thursday, September 15, 2011 at 7:00 p.m. The meeting will be held in the Community Room at Town Hall." and
"Citizens Fiscal Advisory Committee Meeting
The Citizens Fiscal Advisory Committee has scheduled a meeting for Thursday, October, 13 2011 at 7:00 PM. The meeting will be held in the Community Room at Town Hall and is open to the public."
CFAC is admittedly remiss in not posting minutes but is working on correcting this. CFAC hopes to have agendas and approved minutes on line soon.
Sincerely,
Pete Stenson, Chair
Citizens Fiscal Advisory Committee
Mr. Stenson once again dances around the central issue. It is not rocket science to have an AUD and certified financials (however limited) in timely manner after the close of the 2010 fiscal year for a Town the size of East Greenbush. That's a fact. Any municipality with the fiscal issues which EG faces should have been fast off the blocks in getting an audit done immediately after the close of the 2010 fiscal year. Yet it took until April to engage a CPA. No hurry..... We're doing great!!
ReplyDeleteBottom line Rick (and Pete), are we going to have some kind of performance report 10 or 11 months after the close of the 2010 fiscal year to look at as the 2012 budget is being considered????
831pm - EG does not jump because you say so! Your never-ending arrogance on this issue is amazing. Nothing is a fact and the world does NOT revolve around your personal agenda.
ReplyDeleteAnd for your delicate ego - every single municipality around the Capital District is going thru exactly the same financial issues as East Grenbush, or don't you watch the evening news?! The performance report you so anxiously desire will be done when its done - and not a minute sooner - regardless of your continual complaining and accusations.
OSC requires and AUD report on April 1st following the close of the fiscal year....period. Neither Mr. Stenson nor anyone else gets to decide that this is inapropriate.
ReplyDeleteAnon,
ReplyDeletePete's right on the money, as usual.
Reality is the fact, not your distorted version.
Pete, did you submit this to Mike & Ann?
Wasn't the "Guest Post" afraid to sign the post?
AUD is due 90 days without an extension.
Harry
So....what are you saying Harry? How can Pete be "right on the money" if the AUD is due 90 days without extension???
ReplyDeleteWhich word confuses you? Without or extension?
ReplyDelete