FY18 Financial Records Report Available

In June, the Brewster Select Board hired the Abrahams Group to assist in closing out the town’s accounting records for FY18. At the outset, this work involved reconciling FY17 general ledger ending balances to FY18 general ledger beginning balances. It also involved reconciling FY18 general and special revenue funds. During their investigation, the Abrahams Group uncovered a number of accounting problems needing immediate attention – they identified numerous financial records that were not properly reconciled; incorrect postings in a number of funds and accounts; lack of funds in certain accounts, financial accounts being inactivated with positive balances etc. Since September, more problems have been discovered. The work of the Abrahams Group and our own finance team to correct these problems is still ongoing.

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