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.
Sent: Monday, December 17, 2007 4:46 PM
To: [log in to unmask]
Subject: Re: GASB
I'm also curious--why do you wish you hadn't done the GASB?