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
Auditor Suzanne M. Bump | Alan Macdonald | James M. Machado | Donald R. Marquis | Robert B. McCarthy | Gregory R. Mennis

Joseph E. Connarton, Executive Director

September 5, 2012

Thomas M. Kelley, Chairman
Plymouth Retirement Board
10 Cordage Park Circle
Suite 240
Plymouth, MA  02360

REFERENCE: Report of the Examination of the Plymouth Retirement Board for the three-year period from January 1, 2008 through December 31, 2010.

Dear Mr. Kelley:

The Public Employee Retirement Administration Commission has completed a follow-up review of the finding and recommendation contained in its audit report of the Plymouth Retirement Board for the period referenced above. We conduct these reviews as a regular part of the oversight process. They are designed to ensure the timely implementation of corrective action for the recommendation cited in that report. The results are as follows:

1. The Audit Report cited a finding that the security deposit paid to the landlord was not set up as a prepaid expense on the system’s ledger.

Follow-up Result:  The 2011 Annual Statement submitted to this office has recognized this payment as a prepaid expense. This issue is resolved.

The Commission wishes to acknowledge the effort demonstrated by the staff of the Plymouth Retirement Board to correct the deficiency 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

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