Commonwealth of Massachusetts | Public Employee Retirement Administration Commission
Five Middlesex Avenue, Suite 304, Somerville, MA 02145
Ph 617 666 4446 | Fax 617 628 4002 | TTY 617 591 8917 | www.mass.gov/perac
Domenic J. F. Russo, Chairman | A. Joseph DeNucci, Vice Chairman
Mary Ann Bradley | Paul V. Doane | Kenneth J. Donnelly | James M. Machado | Donald R. Marquis
Joseph E. Connarton, Executive Director
May 2, 2008
Mr. Earl M. Faunce, Chairman
Fairhaven Retirement System
Town Hall
40 Centre Street
Fairhaven, MA 02719
REFERENCE: Report of the Examination of the Fairhaven Retirement System for the three-year period from January 1, 2004 through December 31, 2006.
Dear Chairman Faunce:
The Public Employee Retirement Administration Commission has completed a follow-up review of the findings and recommendations contained in its audit report of the Fairhaven Retirement System for the most recent period referenced above. We conduct these visits as a regular part of the oversight process. They are designed to ensure the timely implementation of corrective action for the recommendations cited in that report. The results are as follows:
1. The Audit Report cited a finding that a review of meeting attendance by Board members revealed three members with significant absenteeism during the audit period.
Follow-up Result: A review of the minutes for 2007 and 2008 year to date reveals that Board members have shown improvement in their attendance at Board meetings. This issue is considered resolved.
The Commission wishes to acknowledge the significant effort demonstrated by the staff of the Fairhaven Retirement System to correct the deficiencies cited in the most recent examination of the system.
Thank you for your continued cooperation in this important matter.
Sincerely,
Joseph E. Connarton
Executive Director