Audit Cttee. minutes

The minutes of the 2008 audit committee meeting have appeared on the Town website. We have been watching for these off and on for some time, both on the old website and the new one. It appears they were “added” to this new site on the 16th of Oct, if the date at the right of the pdf link is correct. Since the meeting took place July 23 one might ask why it has taken this long.

However, here we are. We suppose we should be thankful they are available at all, eh?

First item of interest-emphases are ours:

Mr. Duffett drew attention to the fact that Accounts Receivable taxes outstanding net  after valuation allowances increased from $87,695 last year to $143,759 this year. This  is a significant increase in a one year period given the fact that the Town normally  has on average uncollected taxes of $100,000 annually.

The Chief Administrative Officer informed members that Mr. Porter and Mrs. Stewart will be taking collection action this year on outstanding accounts. That action will likely include a tax  sale list longer than in other years. He further informed members that he is aware of one major account in excess of $25,000 where the property is now for sale.

Is anyone surprised ? And the $25,000 outstanding account? If this was the taxes owed for one year it would have to be on a large (commercial?) property or represent the taxes from multiple years for a typical property.

More on other items of interest in later posts.

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