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Miller reports on Land Conservancy Trust auditing

March 1, 2011

Photo Courtesy Kinney Bungalow.com

New operating budgets have been established for Kinney Bungalow, above.

NARRAGANSETT–The Town Council met on Feb 22 to discuss, among other topics, the town's recent auditing and an Adopt-A-Spot agreement with the Tree Society.

According to a report submitted by the Town Manager, during the budget process last year, it was discovered that funds from the Land Conservancy Trust may have been expended over a series of years to pay for operating expenses for the Trust properties. Since funds from the Land Conservancy Trust should have only been expended on the purchase of real estate or other land related expenses such as conservation easements, the town requested the auditing firm of Lefkowitz, Garfinkel, Champi & DeRienzo to complete an extensive audit of the Land Conservancy Trust.

"No wrong-doing or bad decisions were made," Miller said, summarizing the findings. "It should be noted that in FY 2011 new operating budgets were established for Sunset Farm and for Kinney Bungalow so that future expenditures will be charged to these budgets rather than to the Land Conservancy Trust," Miller wrote in his report. "This will continue in the years ahead so that the assets of the Land Conservancy Trust will only be expended on real estate projects that support its mission."

For more information pick up a copy of The Narragansett Times.

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