CITY OF CENTRAL FALLS
CITY COUNCIL AUDIT COMMITTEE MEETING
WEDNESDAY, APRIL 28, 1999
CITY HALL COUNCIL CHAMBERS
AT 7:30 P.M.
A Meeting of the Central Falls City Council Audit Committee was held on the above date in the City Hall Council Chambers at 7:50 p.m.
Councilman Noury
Councilman Ferri
Councilman Weber
Councilman Canavan
Quorum Present.
Councilman Noury Chaired the meeting.
Peter Chatellier & Debra Mitchell were present to answer questions and point out areas in the Draft report of the Audit for Fiscal Year 97/98.
Mr. Chatellier stated that there are three areas that deal with this audit.
1. The audit Financial Statement
2. The Management Letter
3. Comments on present issues.
He reported that the management letter and return comments on behalf of the City noted two areas that warranted comment one was that the general fixed assets of the City are unknown and the other is the status of the pension funding. Mr. Chatellier gave a brief overview of the findings of the audit.
Council President Canavan commented on the Pension Funding and the Bonding that is being worked on at the State level.
Mr. Chatellier stated that the One Million Dollars currently being place in a special revenue account should be made part of the General Fund to show the true fund balance of the City. He stated that this is recommended especially if the City intends to go out to bond.
Councilman Noury commented on the Audit and said that the State Law requires that the audit be completed by December 31st of each year. He also stated that it is the wish of the audit committee that it be part of this year's goal to complete the Audit by December 31st of 1999 for period ending June 30th 1999.
Councilman Ferri asked Mr. Chatellier if the budget was on target.
Mr. Chatellier responded yes.
Councilman Noury thanked Mr. Chatellier for his attendance at this meeting he stated that the audit is just a snapshot of the total financial picture of the City.
He stated his concern regarding Police & Fire Department over-expenditures etc.
None
None
Motion to adjourn was made by Councilman Weber and seconded by Councilman Ferri. All Agreed. So Voted. Time 9:00 p.m.
_______________________
Elizabeth A. Crowley, CMC
City Clerk
INTERPRETERS FOR THE HEARING IMPAIRED AVAILABLE UPON 72 HOUR REQUEST MADE AT THE OFFICE OF THE CITY CLERK
THIS NOTICE POSTED AT CITY HALL AND THE LIBRARY ON FRIDAY APRIL 23, 1999