Press Release:Supervisor Hoehmann Announces Creation of Independent Audit Committee to Advise Ongoing Fiscal Reform
For Immediate Release
December 30, 2016
Hoehmann Announces Creation of Independent Audit Committee
to Advise Ongoing Fiscal Reform
New City, NY – Supervisor George Hoehmann
today announced the creation of an independent Audit Committee to help continue
the Supervisor’s commitment to fiscal responsibility and reform. The
three-member panel will consist of experts in accounting, finance or both and
not be compensated.
“Since taking office I, along with the Town
Board, have cut government spending, reduced borrowing, and have provided much
needed property tax relief for the first time in over 30 years,” said
Supervisor Hoehmann. “The creation of this independent audit committee to
advise the Town Supervisor and Comptroller is yet another step on the road of
financial reform and stability.”
The members of the committee will be nominated
to two-year terms and shall:
(1) advise, where
appropriate, on the selection of a firm of certified public accountants to
perform the required annual audit of the Town’s accounts;
(2) Review the audit scope to
be performed by the selected firm of certified public accountants.
(3) Meet with the Supervisor,
Comptroller and certified public accountants at completion of audit to review
audited financial statements and review audit firm’s recommendations for
improvement of internal control.
(4) Follow up on Town’s implementation
of auditor’s recommendations which are considered practicable.
(5) provide counsel on
the selection of the actuarial firm to perform the actuarial evaluation
required by GASB45;
A public hearing on the creation of the Audit
Committee is scheduled for January 31, 2017.