Audit Committee

Meetings

Meetings held as needed.

Agendas & Minutes

Agendas are available prior to meetings. Minutes are available following approval. 
View Most Recent Agendas and Minutes

Members

  • Peter Nassar, exp. 2023
  • Matthew Schoen, exp. 2023
  • Peter Landon, exp. 2024
  • Rose Bernal-Larioza, exp. 2024
  • Carol Martucci, exp. 2024
  • 2 Vacancies - Associate Non-Voting Members

About the Committee

The Audit Committee is established pursuant to Article 7, section 7-9 of the Town of Longmeadow’s Charter.


Section 7-9 Audit Committee

There shall be an audit committee consisting of 5 members appointed, by the Select Board, for terms of 3 years, so arranged that as nearly an equal number of terms as possible shall expire each year. The audit committee shall review annual financial statements of the Town financial offices, review the independent auditor’s management recommendations, and provide advice and counsel to the Select Board, Town Manager, Town Accountant, and Treasurer.

Purpose

  • To increase public confidence and trust in the operations of Town government
  • To instill accountability, integrity, and efficiency in the financial operations of the Town of Longmeadow
  • To support Town government efforts to comply with those laws and regulations by which the Town is governed

Commitments

The Audit Committee (AC) will:
  • Consist of 5 members appointed by the Select Board for staggered 3-year terms
  • Be advisory to the Select Board, School Committee, Town Manager and Finance Director
  • Utilize the Finance Director as the liaison for resources which the Committee needs to do its review and study work
  • Report at least quarterly to the Select Board
  • Be evaluated annually by the Select Board
  • Be non-budgeted and obtain essential clerical needs from the Department of Finance and Administration

Qualifications of Members

  • Professional experience in accounting, finance, law or general management a requirement
  • No officer of the Town or member of any board, commission or other committee of the Town, whether elected or appointed, and no Town employee or school employee, shall be a member of the audit committee and none should have served in any of these capacities for at least 12 months prior to appointment
  • Shall become familiar with and maintain a familiarity with: Town government laws, regulations and pending legislation which may impact the Town

Scope of Responsibility

From the strategic position of a model Town government:
  • Manage the relationship with the external auditor
  • Ensure the quality of financial reporting
  • Oversee regulatory compliance
  • Work with the internal audit function
  • Monitor management’s handling of internal controls and risk management
  • Monitor the Town’s ethics procedures

Role

The committee shall provide advice and counsel to the Select Board, School Committee, Town Manager and Finance Director, including recommendations regarding policies and procedures. The audit committee shall review the annual financial statements of the Town financial offices, and the independent auditor’s management recommendations. Data, information and additional research needed by the committee, will be coordinated with the Town Manager or other staff personnel assigned to work with this committee

Duties of the Audit Committee

  • Recommends and evaluates the independent auditor for the Town
  • Encourages and recommends an audit plan based on a Town-wide (including schools) risk assessment developed by department heads and the Town Manager
  • Reviews annual financial statements of the Town financial offices and the independent auditors financial recommendations
  • Reviews the efficacy of internal fiscal controls and encourages corrective action on those control or accounting issues identified in the independent accountant’s “management letter”
  • Reviews the Town’s bonded indebtedness and make recommendations for maintaining desired bond rating
  • Recommends the use of special counsel or experts to assist in study work
  • Is a resource to the Select Board and School Committee on financial issues
  • Surfaces opportunities for cost and efficiency improvements
  • Orients new members and encourages continued education of its members