Audit Committee sets June deadline to clear $673,000 in untraced deposits

WAYLAND — February 12, 2024 — Wayland Audit Committee targets June 30 to resolve $673,000 in unidentified guaranteed deposits. At its Feb. 12 meeting, Finance Director Brian told the committee that the Conservation Commission ($320,000) and Board of Health ($60,000) have identified most payers and are processing refunds, while the Planning Board and Building Department — both with department heads under a year on the job — remain "far behind" and have a temporary worker assigned to dig through board minutes back to 2012. Unmatched funds will be remitted to the state as unclaimed. Member Klaus Shigley pressed on the deadline's realism after similar language appeared in last year's management letter; Chair Samantha said the committee's annual report should flag that an unresolved balance could rise to a material weakness. The committee noted the cash reconciliation finding is down to about $1,000 and voted 5-0 to approve minutes and adjourn. Next meeting: Feb. 26.