BOARD OF FINANCE
JULY 23, 2013
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Attendance: Chairman John Grabowski, John Ford VI, Sally Huyser, Sharon Huxley, Chip Spear
Visitors: First Selectwoman Derrylyn Gorski
Chairman Grabowski called the special meeting of the Board of Finance to order at 7:08 pm. The meeting was held in the Conference Room of the Bethany Town Hall.
OVERAGE IN AUDIT BUDGET
Board of Finance members discussed the $13,800 overage in the audit line item caused by an accumulation of outstanding invoices from Michael Batista for a three year period. Board members agreed the invoices should be paid. Motion moved by Sally Huyser and seconded by Chip Spear to pay $13,800 for overage in audit line item from the Contingency Fund. The vote was called. The vote taken was unanimous.
REQUEST FOR PROPOSAL FOR NEW ACCOUNTING POSITION
Board members discussed proposal for the new accounting position. The following procedure was set up:
- System Setup – Chart of Accounts
Budget line items
Set up Chart of Accounts
Help on beginning balances
- End of month – adjusting entries and reconciliation
Trial balance (8-12 hours per month)
Bank statement reconciliation
- End of year – annual – end of month adjustment
Trial balance or draft financials
All members present agreed with this proposal.
Motion moved by Chip Spear and seconded by Sally Huyser to adjourn the meeting at 8:05 pm. The vote taken was unanimous.
June G. Riley
Clerk, Board of Finance