The Audit Committee, as required by Article 3.5 of the town bylaws, serves as an advisor to the Select Board with respect to the town’s financial condition, financial management systems and controls, and annual audit. In addition, the committee reports to Town Meeting as the committee sees fit on matters within the scope of Town Meeting’s concerns. Specific duties include but are not limited to :
Making recommendations to the Select Board on the selection of, and scope of services for, an independent auditor
Reviewing the annual financial statements and reports prepared by the independent auditor and making recommendations with respect thereto
Making recommendations for areas of operations where expanded scope audits or reviews of the internal controls may be appropriate
Reviewing and making recommendations with respect to the town’s financial management practices and controls
Reporting to the Annual Town Meeting on recommendations the committee has made during the preceding 12 months
There are 6 members of the Audit Committee. One member each is appointed by the Select Board, the Advisory Committee, and the School Committee, and 3 members are appointed by the Town Moderator. In addition to the 6 voting members, the Director of Finance, the Comptroller, the Superintendent of Schools (or their designee), and the Town Administrator (or their designee) shall serve as nonvoting members of the committee.