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Meeting Minutes October 15. 2025 Mi
Present: Mr. Steve Schoonveld, Mr. Jack Cooney, Mr. Kostas Loukos and Mr. Saravanan Karuppusamy were
present in meeting room 2 A/B at Town Hall.
Also Present: Mr. Joseph Sollecito, Mr. Joseph Pereira, Mr. Nick Monticello, Town Accountant was present
along with Ms. Laura Stone from CBIZ. The Mansfield Light Department Light Commissioners were also
present including Maureen Doherty, Michael Feck, Walter Wilk, Kostas Loukos (Audit Committee member),
and Brendan Roche arrived after the start of the meeting.
1. Call to Order
Mr. Karuppusamy called the Audit Committee Meeting to order at 5:3313M. All four members were present.
2. MMED Audit Review and Acceptance
Audit Overview
Auditor Laura Stone provided an overview of the audit process and findings. She noted that the audit
report presented to the Committee was in draft form, with no significant changes anticipated before
finalization.
Prior to fieldwork, auditors reviewed prior -year expectations and designed audit procedures
accordingly. Inventory testing, performed by Kevin Sullivan at the warehouse, indicated that while
improvements are still needed, results showed progress compared to previous years.
Financial Review Summary
Ms. Stone summarized testing of revenue and liabilities. Once finalized, a formal report will be issued.
She confirmed that the audit opinion is clean.
Page 4 (Management Discussion & Analysis): Highlights trends, capital assets, and year-to-year
comparisons. The balance sheet reflects consistent assets. Liabilities, including net pension and
compensated absences, increased due to new GASB 101 rules changing how accruals are measured.
Under GASB 101, liabilities expected to be used within the year must now be accrued. The liability
increase was passed through as an adjustment, not as a restatement.
Page 11 (Profit & Loss Statement): Operational results were consistent with the prior year, with stable
operating income.
Significant Disclosures (Pages 21 & 26):
Net pension liability and post -employment benefits (OPEB) were reviewed. Because the Light
Department has not established a separate OPEB trust, retiree health benefits remain tied to the Town
plan.
Audit Committee Meeting
October 15, 2025 Page 1
Committee Discussion:
Mr. Schoonveld noted that retired employee benefits are not negotiated through union contracts. The
Committee agreed to revise the report language to read "established by the Town."
Ms. Stone explained that during audit testing, it was discovered that some individuals were missing
from the sample dataset due to the Town's report including only active members instead of eligible
members. As a result, the 2023-2025 valuations were recalculated. The reevaluation showed no
material difference for FY2024; the variance was understood and properly recorded, resulting in a
$102,000 adjustment. Because there was no review of the file before submission, this was identified as
a deficiency in internal controls, though not material.
Subsequent completeness testing identified two employees missing from the prior dataset, but both
had been hired after FY2024. The FY2025 valuation includes the corrected data. This issue will not
require a restatement but will be noted in the management letter as a potential control issue.
• Page 43: Discloses a single -employer plan component that functions within a larger cost -sharing plan.
The Light Department's portion of the Town's post -employment benefit plan is reflected.
• Page 52: Internal control letter includes standard communications. It highlights significant estimates
(pension and OPEB), independence statements, and attestations to GAAP accrual entries.
• A separate letter to governance will be finalized when the report is issued.
Findings:
• Disagreements with management: None
• Other audits or findings: One material weakness and a significant deficiency
• Page 53: Notes that the actuary had to rerun reports due to the missing data. The auditors recommend
that someone other than the Treasurer review data before submission to ensure independence and
accuracy.
Follow-up Discussion:
• Mr. Monticello (Town Accountant) stated that going forward, the data will be re -reviewed by his office
and also verified by Human Resources.
• Mr. Cooney asked why the issue did not occur in prior years. Ms. Stone explained that the 2023
valuation reflected a significant experience shift due to employee changes, marking the first year of the
issue.
• Ms. Doherty asked where internal control procedures are documented. Mr. Monticello confirmed they
are outlined in the Town's annual control schedule.
Inventory Controls:
Mr. Pereira explained that a long-term employee retired shortly before the audit, leaving remaining
staff to conduct the inventory. The audit identified opportunities for improvement, which will be
addressed.
PILOT Discussion:
Mr. Schoonveld noted that the report used the term "payment" rather than "PILOT," though the
number remained unchanged. Mr. Pereira clarified that the payment is voluntary, as Light
Audit Committee Meeting
October 1S, 2025 Page 2
Departments are not required to pay taxes. The Commissioners voted to maintain consistency in the
payment.
Mr. Schoonveld commented that if the Department wishes to be treated like other non -profits, the
PILOT could be tied to assessed real estate values rather than remaining fixed. Mr. Sollecito noted that
other electric departments use varying formulas (sales -based, fixed-rate, etc.) and that most towns are
conservative in calculating it, as PILOT is a below -the -line cost that can affect net results.
Motion: To accept the MMED FY2025 Audit as corrected. (Schoonveld / Loukos)
Vote: Passes 4:0
3. Discuss Upcoming Field Work for FY2025 Audit
Mr. Schoonveld raised a question about school -side revolving accounts.
Mr. Cooney asked when the Town audit would be completed.
Ms. Stone confirmed completion is expected by December 31, 2025.
4. Any items not anticipated by the Chair 48 hours prior to this meeting
No additional items were discussed.
5. Adjourn
Audit Committee meeting at 6:24 PM. (Schoonveld/Cooney)
Passes 4:0
Date
Minutes prepared by Nancy Griffin
Audit Committee Meeting
October 15, 2025 Page 3
APPROVED 12.8.25 - Town Manager Screening Committee Meetingg Miputes
November 17 2025 at 6:15 p.m. I, E ICE
School Superintendent Offices, 2 Park Row, ManMT4 ,NIA A 1
Attendees: Mary Flanders Aicardi, Human Resources Practice Leader ;)
Edward J. Collins, Jr. Center for Public Management, Neal Boldrighini, J9mgs Carlson, BFian Eagle,
Danielle Fish, Michelle McKeon, Charlie Mulcahy, and Ralph Penney.
1. Meeting called to order at 6:15 p.m. by Mary Aicardi.
2. Ms. Aicardi reviewed the purpose, scope of work, responsibilities, timeline, and confidentiality
necessary for this committee.
3. The Committee elected Ralph Penney as Chair, Neal Boldrighini as Vice Chair, and Danielle
Fish as Clerk. (Mulcahy/Eagle) (7/0)
4. Open discussion on status of the search/screening process, committee work, and preparation
required for next meeting.
5. Committee identified four (4) meeting dates in December at which candidates will be
interviewed by the Screening Committee. All candidates will have the same amount of time
allotted for interview as well as be asked the same questions. Questions will reflect input
received from resident surveys, Town Hall employees, Select Board, and those crafted by the
Screening Committee. Suggested format was 14 direct questions or 7 multi -part questions.
Follow up questions to approved questions are allowed but Committee may not add/ask a
NEW question outside of the agreed upon format. The Committee will convene immediately
following that series of interviews to discuss candidates. Committee will vote to advance the
most qualified candidates for final interviews with the Select Board. (there is no minimum or
maximum number of candidates required for advancement)
6. Committee set next meeting date of December 8 at 6:15 p.m. at School Superintendent's
Office to review candidate resumes and finalize questions for interviews.
7. Motion to adjourn at 7:45 p.m. (Eagle/Boldrighini) (7/0)
Respectfully submitted on 12.1.2025 by:
Danielle W. Fish
Clerk, Town Manager Screening Committee 2025