2003-05-21
.
Sedore & Company
Certified Public Accountants, RG.
POlI[;hkeepJie
(845) 485-5510
lameJ L. Sedore, 11:. CPA.
Mark S mlul/ivall, CPA.
James F Letterio, JI:. CPA.
Teresa A. Bamhi. CPA.
Lillda M. Halllligall, CPA.
Karell T. Hal/Jell, CPA.
p.G. Box 918 . 62 East Main Street. !I1Jppingers FaIL\~ NY 12590
(845) 297-1111 . Fax (84S) 297-/432
www.sedoreandcompany.com
BeflWIl
(845) 831-0542
Newb"rgh
(845) .16.1-1373
May 21, 2003
RECEIVED
MAY 3 0 2003
SUPERVISOR'S OFFICE
TOWN OF WAPPINGER
Joseph Ruggiero, Supervisor
Town of Wappinger
P.O. Box 324
Wappingers Falls, NY 12590
Dear Joe:
Enclosed please find two copies of our engagement letter for 2002, one for your records and one
for your signature and return to us.
I have prepared the following schedule so that we may complete your audit timely:
Annual Financial Report available
May 19
Confirmations completed and mailed
May 27
Fieldwork (Items on the materials requested list should be available)
June 2 - June 27
Draft Report available
July 14
Exit Conference
July 28
Final report issued
August 1
I am sending a copy of this schedule along with our materials requested list to Gerry as well.
Please call me if you have any questions or concerns. I would like to suggest a brief planning
meeting to review the schedule and staffing. I would also like to thank you and Gerry in advance
for your help and cooperation.
Very truly yours,
~/~~ '/:?J,j/q-n~.;t.d4,
t( /cs)
Linda M. Hannigan, C.P.A.
Shareholder
LMH:rcs
cc: Gerry Terwilliger
Town of Wappinger
Materials Requested for Audit
Date
ALL FUNDS: DATE RECEIVED
1. List of all bank accounts and/or investments in the name of the
Town of Wappinger -
· List of new accounts during year
. Include accounts closed during year
2. Copy of 12/31/02 bank reconciliations for all bank accounts
including Town Justice Courts and Town Clerk. Have January
2003 bank statements and canceled checks available.
3. Schedule of Due To/Due From Other Funds at 12/31/02.
4. Schedule of Interfund Transfers for all Funds at 12/31/02.
5. Copy of adopted budget and most current modified budget for
year ended 12/31/03.
6.
Copy of NYS Annual Update Document.
5/19/03
7. Copy of941's, W-3, WT-4B, prepared for 2002 with
reconciliation to .1 accounts. Have 1099s issued for 2002
available.
7a. Master list of Town employees and pay rate.
8. Copy of any new and/or revised financial policies, i.e. regarding
investments or procurement; also new/revised personnel policies,
including updates to the deferred compensation plan.
9. Copy of any new and/or revised contracts and/or leases covering
employees, unions, services or purchases.
10. List of first and last check numbers for all disbursement accounts.
11. Have vendor payments to date(for 2002 year) report available.
12. Schedule of leases with total expenditures for year.
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DATE RECEIVED
13. Copy of 2002 trial balance with 2002 year-to-date general ledger available.
GENERAL FUND:
14. Schedule of receivables as of 12/31/02:
· Accounts receivable
· Federal receivables
· State receivables
· Have January and February 2003 cash receipts
available
15. Schedule of Accounts Payable at 12/31/02. Have January and
February 2003 check registers available.
16. Schedule of Accrued Salaries at 12/31/02, if any. Include
calculation and documentation.
17. Schedule of Accrued Liabilities at 12/31/02, if any. Include
calculation and documentation.
18. Schedule of Deferred Revenue at 12/31/02, if any. Include
calculation and documentation.
19. Copy of 2002 Tax Warrant with breakdown of taxes by fund.
Include documentation of chargebacks, and copy of Collector's
settlement with Dutchess Co.
19 A. Tax Collection Schedule by Fund
20. Copy of Town Clerk's monthly report for 12/02 ; Copy of Town
Justice Court NYS report for 12/02; Copy of financial reports
submitted to the Town Board by any other departments..
21. Schedule of Encumbrances at 12/31/02 and supporting
documents. .
22. Schedule of Prepaid Expense at 12/31/02, if any.
23. Copy of voucher and invoice for retirement system billing.
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COMMUNITY DEVELOPMENT:
DATE RECEIVED
24. Copy of Combining Trial Balance reconciled to the ADD. Include detail
schedules of Federal and State Receivables and Accrued Expenses.
WATER DISTRICTS:
25. Schedule of Water Rents Receivable as of 12/31/02 - all districts.
26. Reconciliation of Water Rent Revenue (billings and collections)
schedule to trial balance for 2002.
27. Copy of combining trial balance and modified budget, detailed and reconciled to
ADD.
28. Schedule of Accounts Payable, Accrued Liabilities, and Accrued
Payroll as of 12/31/02, as above.
SEWER FUND:
29. Schedule of Sewer Rents Receivable at 12/31/02.
30. Reconciliation of Sewer Rent Revenue (billings and collections) schedule to trial
balance for 2002.
31. Copy of combining trial balance and modified budget.
32. Schedule of Accounts Payable, Accrued Liabilities, & Accrued Payroll at
12/31/02.
LONG TERM DEBT ACCOUNT GROUP:
33. Schedule of transactions for year:
a) Copies of any new issuances during year;
b) Copy of debt service schedule for new issuances;
c) Reconciliation of principal and interest paid by fund and by
Issue.
34. Reference item (9) terms of any new or modified leases.
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DATE RECEIVED
35. Schedule of compensated absences.
36. Schedule of principal and interest payments for each of the next
five years and each five year period thereafter.
FIXED ASSET ACCOUNT GROUP:
37. Schedule of additions and/or disposals for year (Cost over $500 and have a
useful life of greater than one year).
38. Asset Valuation Report at 12/31/02.
TRUST AND AGENCY:
39. Payroll Liability accounts - copy of payroll showing liability and
copy of voucher/check showing payment.
40. Other Agency Liabilities - Schedule of balances and analysis of
receipts and collections. (Escrow accounts; Guarantee & Bid
deposits)
41. Trust Liabilities - Schedule showing prior year balance, current
transactions and current balance.
CAPITAL PROJECTS:
42. Schedule of all Capital projects in-process during 2002, please
include:
. Schedule of Accounts Payable at 12/31/02
. Retainage Payable at 12/31/02 with supporting
schedule detailing contract amount, contract period,
invoices/voucher to date, period covered in last
invoice, accrual necessary, if any, and balance to
complete (Please furnish a copy of last
invoice/voucher recorded in 2002)
. Have January and February 2003 check registers
available, as above
4
DATE RECEIVED
43. Schedule of Federal and State Aid received and/or receivable for
2002 by project
44. Schedule of BANs Payable, including copy of authorizing
resolution and BAN certificate for new and renewal notes.
45. Combining trial balance reconciled to AUD.
46. List of draw-downs for various projects.
LIGHTING:
47. Combining Trial Balance and modified budget.
MISCELLANEOUS:
48. Joint Ventures - copy of current year financial statement, copy of any
new/modifications of contract.
49. Copy of any 2003 new debt authorizing resolutions through completion of audit,
if any
50. Copy of significant contracts or agreements finalized in 2003, through audit
completion
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