AN ACT RELATIVE TO AUTHORIZING THE BOARD OF SELECTMEN OF THE TOWN OF SAUGUS TO HIRE AN AUDITING FIRM TO CONDUCT ANNUAL AUDITS.
Whereas, The deferred operation of this act would tend to defeat its purposes, which is to facilitate forthwith the issuance of certain bonds to finance improvements to the commonwealth’s transportation system, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
Chapter 17 of the acts of 1947 is hereby amended by inserting after section 35A, inserted by section 6 of chapter 99 of the acts of 2011, the following section:-
Section 35B. Annual Town Audit.
The board of selectmen of the town of Saugus shall hire an auditing firm to conduct the state-mandated annual independent audit for the town of Saugus.
As part of the process to procure services, the board of selectmen shall determine in advance the requirements and objectives of the audit and monitor the progress of the audit. The audit shall have 3 components: an opinion; followed by financial statements; and a separately provided management letter.
The results of the audit shall be immediately provided to the board of selectmen, the finance committee and the town manager. It shall be the responsibility of the town manager to address any concerns raised by the audit in a timely manner.