Orange Will Be Getting an Audit

On October 18, the Town Select Board met to sign the financial report, MS-5, required by the state--a crucial document that helps set our tax rates. You'll find the minutes here. One excerpt of those minutes is worth putting right into this post:

Dorothy stated that there is significant confusion and concern as to why there was an ending cash-on-hand balance of $94,400.65 for 2014 when historically year-end balances have always been between $175,000 and $225,000. She said this disparity is the primary reason the town is in deficit. She also said there is confusion of why the unassigned fund balance went from a 2014 ending balance of $138,000 to zero dollars. Dorothy said that given these two perplexities, she recommends that the Board approve an external audit to answer these questions. Bob and Skip agreed that an outside audit was warranted.

Dorothy said she received an auditor recommendation from the Hanover Town Manager. The auditor is presently fulfilling the same need for another town. She has emailed the auditor regarding his availability. 

Sandi also sent us the minutes of the usual October 14 meeting. You'll find them here.