Town required to perform audit of federal funds
According to town auditors Roselli, Clark, & Associates, towns receiving in excess of $500,000 require an incremental audit service. The FEMA (Federal Emergency Management Act) funds for ice storm cleanup and ARRA (American Recovery and Reinvestment Act of 2009) stimulus funds Harvard received last year pushed the town over that $500,000 threshold.
At the Jan. 20 Finance Committee meeting committee members voted unanimously to support the audit at the cost of $5,000 quoted by Roselli, Clark, & Associates. The bill for the audit will be paid from the Reserve Fund, which is managed by the Finance Committee.
