Town of Ashland, NY

Town Board Minutes

TOWN OF ASHLAND
12094 ROUTE 23
ASHLAND, NEW YORK 12407
518-7343636 Fax 518-734-5834

Richard E. Tompkins, Town Supervisor
Robert C. Ferris, Councilman                                            James Lawrence, Councilman
Martin Blanden, Councilman                                        Wanda Partridge, Councilperson

 SPECIAL TOWN BOARD MEETING
June 30, 2009

                A Special Town Board Meeting was held at the Town Hall, 12094 Route 23, Ashland, New York on the 30th day of June 2009.

Present
Richard Tompkins---------------------Supervisor
James Lawrence-----------------------Councilman
Martin Blanden------------------------Councilman
Wanda Partridge-----------------------Councilperson
Justine L Koehler----------------------Town Clerk

Absent

Robert Ferris---------------------------Councilman

Attended by: Allan Tavenner and Patricia Snover

Meeting was opened at 1:00 pm.

The board met with Allan Tavenner and Patricia Snover to go over funding from the USDA Rural Development

ATTACHMENT A - (Audit Guidance for Borrowers of Community Programs)

1.             If the Federal assistance received was $500,000 or more for the fiscal year, it will be necessary to
submit an audit in accordance with OMB Circular A-133, “Audits of States, Local Governments and Non-Profit Organizations”.  OMB A-133 Audits will be an entity-wide audit covering all funds of the municipality.

In accordance with program requirements, a borrower using interim bank financing is considered to have expended Federal awards.  Therefore, a borrower that expends $500,000 or more in interim financing per fiscal year is required to submit a Circular A-133 audit report.  A borrower spending less than $500,000 per fiscal year may submit an audit performed in accordance with the lender’s audit requirements.

Please Note: OMB Circular A-133 Audit Reports are to include the following:

Independent Auditor’s Report (the auditor’s opinion).

Financial statements (including notes of the financial statements).

Report on Compliance and on Internal Control Over Financial Reporting Based on an 
Audit of Financial Statements Performed in Accordance with GAGAS.

Report on Compliance With Requirements Applicable To Each Major Program and
Internal Control Over Compliance in Accordance With OMB Circular A-133.

A schedule of expenditures of Federal Awards.

Auditor’s Report on Federal Awards (includes the auditor’s opinion on internal control and
compliance related to major Federal awards).

A schedule of audit findings and questioned costs (if applicable).

A Corrective Action Plan and Summary Schedule of prior audit findings, if applicable.

A data collection form as required by OMB Circular A-133.

2.             If the Federal assistance received was less than $500,000 for the fiscal year and the organization or
municipality has a Rural Development debt of $1,000,000 or more an audit shall be submitted that
complies with “Generally Accepted Government Auditing Standards” (GAGAS), issued by the 
Comptroller General of the United States.  GAGAS Audits will only need to cover the specific
Fund which involves federal financial assistance (i. e. water fund, sewer fund & etc.)

Audited financial statements shall be submitted on an annual basis in accordance with Government Auditing Standards (GAS), Generally Accepted Accounting Principles (GAAP), and Generally Accepted Government Auditing Standards (GAGAS), issued by the Comptroller General of the United States, 1994 Revision, and any subsequent revisions.

Please Note:  Water & Waste (GAGAS) Audits Reports are to include the following:

Independent Auditor's Report (the auditor's opinion).

Financial statements (including notes to the financial statements).

Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with GAGAS.

A schedule of audit findings (if applicable).

3.             If the Federal assistance received was less than $500,000 for the fiscal year and your
Organization/municipality has a Rural Development debt of less than $1,000,000, they may, with
Agency approval, submit a management report in lieu of an audit report.  The management report
should be submitted on RD Forms 442-2 and 442-3 or facsimile thereof (A copy of the "Uniform Annual Financial Report" that is submitted to the New York State Dept. of Audit & Control will suffice in lieu of RD Forms 442-2 and 442-3).  We will only require that portion of the report that involves federal financial assistance [i.e. water fund, sewer fund & etc. (see attach sample)].

Audit Reports are to be submitted within the following time frames:

OMB Circular A-133 audits shall be submitted no later than nine (9) months after the end of the fiscal year.

Audit reports conducted in accordance with Generally Accepted Government Auditing Standards (GAGAS audit) shall be submitted no later than 150 days after the end of the fiscal year.

Management Reports are to be submitted within sixty (60) days following the end of the fiscal year.

                                                                                                                _________________________
Justine L Koehler
Town Clerk