Linked below are the just released 2014 SAU 55 audit as well as Timberlane’s 2014 audit.
From SAU 55’s 2014 audit:
Basis for Adverse Opinion on Governmental Activities
As discussed in Note 9 to the financial statements, management has not recorded the long-term costs of retirement health care costs and obligations for other postemployment benefits in the governmental activities. Accounting principles generally accepted in the United States of America require that those costs be recorded, which would increase the liabilities, decrease the net position and increase the expenses of the governmental activities. The amount by which this departure would affect the liabilities, net position, and expenses on the governmental activities is not readily determinable.
In our opinion, because of the significance of the matters described in the “Basis for Adverse Opinion on Governmental Activities” paragraph, the financial statements referred to above do not present fairly the financial position of the government-wide financial statements of the School Administrative Unit No. 55, as of June 30, 2014, or the changes in financial position thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.
This is exactly the same issue behind Timberlane’s adverse opinion, as well. I have asked repeatedly for the auditor to be present at a TRSB meeting to explain the significance of these statements but the SB chairman will not do so. Today I sent an email out to a few Hampstead SB members asking them to request of the SAU chairman that the auditor be present at our next SAU meeting. I’m not a betting person but I’m willing to wager they will have no better success than I. Taxpayers should be asking why board members who have an obligation to protect your money and see that it is justly spent and fairly accounted for are restricted from talking to the auditor privately and thwarted from questioning her in public.
P.S. Yesterday I placed an official Right to Know request with the SAU to see the multi-year lease contract for the photocopiers mentioned in Timberlane’s audit. I had requested to see this contract two months ago. As my faithful readers know, RSA requires multi-year contracts to be approved by voters unless they contain a non-appropriation clause.