An audit has been completed on the the Madawaska Valley Township finances.
The audit was conducted by MacKillion and Associated Chartered Professional Accountants and was presented at a council meeting on Tuesday. Among the recommendations was for the township to perform monthly bank reconciliations. That included the tax receivable accounts. Tax reconciles for the county and school boards were recommended to be done every time a payment is processed rather than at the end of the year. On terms of accounting software, the audit suggested that training should be put in place for new employees, while access should be restricted to whoever doesn’t need it. As well, the number of reserve accounts the township uses should be lowered to streamline the accounting system.
Acting Treasurer Amanda Hudder welcomed the report and had already taken steps to implementing it. In a memo to Council, Hudder said the tax accounts are up to date on reconciliations. She said the general account is not up to date, but it is a work in progress that will take time to fix. Staff is already starting to be restricted from using the accounting software if their job does not require it. The amount of reserve accounts would be reduced for the upcoming budget in 2020.
Council accepted the audit and passed a bylaw to move forward with the changes.