The committee’s primary focus was the review of the engagement letter from Roselli Clark and Associates, which outlined the planned audit services for the town. Members noted an increase in audit costs, specifically a $4,000 rise for Fiscal Year 2025, with subsequent years seeing a $1,000 annual increment. Additionally, they highlighted the necessity to budget an extra $6,000 for potential single audits due to federal awards. This led to a proposal to raise the audit budget to $35,000 to ensure adequate coverage for these expenses.

To ensure legal compliance and fiscal prudence, the committee decided to forward the engagement letter to the Town Council for further review before its acceptance by the select board. The motion aimed to secure a review to mitigate any potential oversights before the engagement letter is finalized.

In planning for future meetings, the committee scheduled a joint session with the finance committee and select board for May 20. This meeting aims to review the Fiscal Year 2024 audit results jointly. The timing was chosen to facilitate a smooth transition post-town meeting and accommodate the selection of a new select board member.