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Many reasons- Being a small town-I think that we really didn't need to do
this. The cost was a lot-for what you actually have to do. Now, our audit
reports have to be GASB format-which is different from a "Budget Basis" -
so, we have to keep our budgetary numbers different from our audit report
numbers. And, now we're told that the cost for our audits is going up -close
to $10,000.00 because of GASB requirements. Just seems very confusing and
too much for small towns. But, if you have outside audits-we no longer have
town auditors because it was so hard to get people to take the job, then any
audit firm has to comply with governmental requirements. Just very
complicated & confusing-for a report that hardly anybody even looks at - not
to mention might understand.

Vicky 

 

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From: Vermont Municipal Government Discussion Network
[mailto:[log in to unmask]] On Behalf Of Marianne A. Blake
Sent: Monday, December 17, 2007 4:46 PM
To: [log in to unmask]
Subject: Re: GASB

 

Vicki,

I'm also curious--why do you wish you hadn't done the GASB?

Marianne in Windsor





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