1963 - Lane Memorial Library

56 HAMPTON TOWN REPORT
AUDIT PROCEDURE
The accounts and records of all town officials charged
with the custody, receipt and disbursement of public funds
were examined and audited. Vouchers and cancelled checks
were compared with supporting invoices and payrolls as well
as entries in the books of record. Receipts were checked by
source insofar as possible and totals of receipts and expenditures
verified. Book balances were verified by comparison
with reconciled bank balances made from statements obtained
from depository banks. Verification of uncollected taxes was
made by mailing notices to delinquent taxpayers as indicated
by the Collector's records. The amounts of uncollected and
unredeemed taxes as indicated in this report are therefore subject
to any changes which may be necessitated by the return of
verification notices.
GENERAL COMMENTS
Current
Surplus:
The current surplus (excess of total assets over current
liabilities) increased by $18,956.17 from, $135,401.62 to $154,-
357.79 during 1963, as shown herewith:
December 31, 1962 December 31, 1963
Total Assets $1,423,654.00 $1,132,931.04
Current Liabilities 1,288,252.38 978,573.25
Current Surplus $ 135,401.62 $ 154,357.79
Conclusion:
The provisions of Chapter 184 of the Laws of 1955, require
that the summary of findings and recommendations
(letter of transmittal) of this report shall be published in
the next annual report of the Town.
We extend our thanks to the officials of the Town of
Hampton for their assistance during the course of the audit.
Yours very truly,
Harold G. Fowler
O. Maurice Oleson, Auditor
George L. Russell, Accountant
Director
DIVISION OF MUNICIPAL ACCOUNTING
STATE TAX COMMISSION