Locally Elected Auditors Workshop

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Locally Elected Auditors Workshop

Jun. 07, 2017

  • Location: Capitol Plaza, Montpelier
  • Time: 8:30am — 3:30pm
  • Sponsored by: VLCT Municipal Assistance Center; VLCT PACIF
  • Contact: Lisa Goodell
  • Contact Email: info@vlct.org
  • Contact Phone: (802) 229-9111
  • Contact Fax: (802) 229-2211
  • Cost: Early Bird: $60 PACIF Members; $90 VLCT Members; Add $10 after deadline
  • Registration Deadline: Wednesday, May 31, 2017.

Description

Vermont’s locally elected auditors are responsible for reviewing the accounts of their municipalities’ officials and reporting their findings directly to the taxpayers at Town Meeting.

Each year, as municipal budgets grow and sources of revenue become more diverse, the task of auditing municipal financial records becomes more difficult. Current Vermont law doesn’t require locally-elected auditors to have any education or experience in bookkeeping or accounting. Nor are elected auditors required to apply professional accounting standards in their work. VLCT offers training and information to help elected auditors fulfil their responsibilities under Vermont law. This workshop offers training based on the League’s recently revised Handbook for Locally Elected Auditors.

(CPE credits are being sought for this workshop.)

 

Click Here to Register

 

Agenda

8:30

Registration Opens (light breakfast provided)

9:00

Welcome and Overview

Doug Hoffer, Vermont State Auditor of Accounts

Abby Friedman, Director, VLCT Municipal Assistance Center

9:10

The Role of the Elected Auditor in Town Government

This session will provide a refresher to the statutory duties and responsibilities of locally elected auditors and will explain the auditors’ relationship with other elected officials and professional auditors. We will also discuss how auditors can gather, review, and digest financial information in compliance with the Open Meeting Law.

Sarah Jarvis, Staff Attorney, VLCT Municipal Assistance Center

 

10:15

Break

10:30

The Audit Process

In this session, we will review the five basic steps in the audit process to produce the town’s audit report: (1) gather information; (2) understand accounting procedures and system controls; (3) evaluate the system; (4) test the system; and (5) prepare the audit report. We will also review audit checklists and guidance provided in the Handbook for Locally-Elected Auditors that can help you complete these tasks.

Bill Hall, Senior Financial Consultant, VLCT Municipal Assistance Center

12:00

Lunch (provided)

 

1:00

Reporting on the Results of the Audit

When the audit is completed, the town auditors must issue a report to the voters on their findings. In this session, we will review the statutory requirements for reporting and distributing the report and offer suggestions as to what may be included in the report.

Sarah Jarvis, Staff Attorney II, VLCT Municipal Assistance Center

Bill Hall, Senior Financial Consultant, VLCT Municipal Assistance Center

 

2:15

Break

2:30

Best Practices in Municipal Financial Management

State law gives very little guidance regarding municipal financial management, and many towns look to financial management and accounting standards that have been developed by financial organizations and professional accountants. Locally elected auditors may make recommendations to town officials regarding the way municipal finances are managed and reported. In this session, we will review best practices in municipal financial management and how local auditors can assist the selectboard and treasurer.

Sarah Jarvis, Staff Attorney II, VLCT Municipal Assistance Center

Bill Hall, Senior Financial Consultant, VLCT Municipal Assistance Center

 

3:45

Workshop Conclusion and Evaluations Completed

Please Note:

Early Bird Registration and Cancellation Deadline is Wednesday, May 31, 2017

Registrations received after this date will be charged an extra $10.00 per person.

Our cancellation policy requires that you notify VLCT in writing by the event's registration deadline to receive a refund of your registration fee.

For a full refund, please cancel in writing by the registration deadline. Please note that, for your convenience, you may pre-register without paying. However, if you do not attend the workshop, and have not cancelled your registration in writing or via email by the deadline, you will be billed for the full cost of the workshop.

Cancellation for events, even for sickness, that comes after the deadline cannot be refunded because VLCT will have already incurred all the costs for attendance including space rental, meal guarantees and packet generation.

Please mail payment to VLCT, 89 Main Street, Suite 4, Montpelier, VT 05602.