2003-10-24
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Sedore & Company
Certified Public Accountants, Pc.
Poughkeepsie
(845) 485-5510
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James L Sedore. Jr.. C'p'A.
Mark S. O'Sullivan. GP.A.
James R Letterio. Jr.. C.P.A.
Teresa A. Barschi. C.P.A.
Linda M. Hannigan. C.RA.
Koren T. Hansen. C.RA.
p.o. Box 918 . 62 East Main Street. WOppingers Falls, NY 12590
(845) 297-1111 . Fox (845) 297-1432
www.sedoreco.com
Beacon
(845) 831-0542
RECEIVED
NOV 1 7 2003
SUPERVISOR'S OFFICE
TOWN OF WAPPINGER
October 24, 2003
Joseph Ruggiero, Supervisor
Town of Wappinger
P.O. Box 324
Wappingers Falls, New York 12590
Dear Supervisor Ruggiero:
As you know, the Town of Wappinger will be required to implement the provisions of
Government Accounting Standards Board' (G.A.S.B.) Statement No. 34 for the year
ended December 31, 2003.
The provisions that affect the Town include revising the Town's financial statements and
footnotes to the GASB #34 presentation, assessing and testing the methods of
determining capitalized assets and related depreciation, and reviewing the management's
discussion and analysis.
We anticipate that these changes will impact the extent and nature of our audit
procedures. Since our audit fee was developed prior to the issuance of GASB #34, we
feel it necessary to advise you that we estimate we will be spending between 20 - 50
additional hours on the Town's audit. The additional fee for these services should then
range from $2,000 to $5,000.
In addition, we are available to review the Town's progress in obtaining the necessary
information to comply with GASB #34 provisions, including the determination of asset
values and useful lives. The extent of these additional non-audit services would be
determined upon request.
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As always, we appreciate the opportunity to serve the Town of Wappinger and look
forward to our continuing relationship.
Sincerely,
~m
Linda M. Hannigan, C.P.A.
Shareholder
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LMHlrcs
cc: Gerry Terwilliger, Comptroller
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