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Regular Council Meeting <br />May 21, 2001 <br />Page 9 <br />look for whether the financial statements are in compliance and in your sampling you look to <br />indications of fraud or embezzlement. If during the limited testing you find incongruities in the <br />financial statement, that would warrant a further step. A full audit would probably be in the six <br />figure range and is not usually done unless you suspect fraud. <br />Mr. Brett clarified that the references to the limited nature of the audit refer to the management <br />letter, not to the actual audit or the financial. They are looking to the cost-benefit analysis of <br />implementing the recommendations only. They are not referring to anything having to do with <br />the actual financial statement. I can explain further after the meeting in more detail if Mr. Busa <br />would like. <br />Roll Call: AYES: All <br />NAYS: None Motion Carried <br />Expenditure Authorized <br />Mr. Ilacqua, seconded by Mrs. Mills, made a motion to authorize an expenditure not to exceed <br />$3,500 to Ballash Press for the Summer issue of the Voice of the Village <br />Mr. Busa, seconded by Mr. Ilacqua, made a motion to authorize an expenditure not to exceed <br />$3,500 to Ballash Press for the Summer issue of the Voice of the Village. <br />Roll Call: AYES: All <br />NAYS: None Motion Carried <br />Expenditure Authorized <br />A motion to authorize an expenditure in the amount of $3,930 to J.G. Tile, Inc. for tile <br />work at Pool Concession Stand <br />Mr. Busa, seconded by Mrs. Cinco, made a motion to authorize an expenditure in the amount of <br />$3,930 to J.G. Tile, Inc. <br />Mr. Ilacqua said Council President Marquardt had expressed some reservation in the timing of <br />the expense. In discussions with Mr. Thomas, we started to look at this last winter. He plans to <br />stay on top of it and be bringing things to light earlier in the season. <br />Roll Call: AYES: All <br />NAYS: None Motion Carried <br />Expenditure Authorized <br />A motion to authorize an expenditure in the amount of $9,000 to Shiloh Painting Company <br />for painting of the Village I3a11 and Police Annex <br />Mr. Busa, seconded by Mrs. Mills, made a motion to authorize an expenditure in the amount of <br />$9,000 to Shiloh Painting Company for painting of the Village Hall and Police Annex