As a practicing Certified Public Accountant over the past 40 years with the Big Four Accounting firms, a major international financial conglomerate and founder of my Certified Public Accounting firm in 1987, which firm is a member of the Public Company Accounting Oversight Board and quality reviewed by the AICPA National Peer Review Division I can accurately and with industry knowledge attest to the outstanding performance of New Canaan’s current Treasurer Andrew Brooks.
I have also functioned as treasurer of many not for profit organizations and currently serve as the Treasurer for the Greenwich Council of the Boy Scouts of America. That said, I can conclude that you do not need to be a Certified Public Accountant to function as treasurer for our municipality.
The prerequisites necessary for performance in the treasury function are actual treasury experience in cash management and asset management and training in the treasury function. Andrew Brooks has received this necessary training at the international accounting firm of Deloitte Touche LLP and at his current position at Accenture. He has four years of hands on experience at the helm of New Canaan’s treasury function.
The treasury position is not an accounting function. The Treasurer is independent from the Finance Department to ensure proper checks and balances. As treasurer, Andrew Brooks has shown his gravitas in professionally implementing this function. He ensures payments are properly authorized and has instituted best practices in asset management that has generated additional revenue in excess of $1,600,000.
During his tenure, Treasurer Brooks has Identified weaknesses to the Audit Committee and other officials, performed enhanced due diligence by blocking payments (totaling $1,000,000-plus) that lacked required approvals or contained errors, placed heightened expectations on departments to supply supporting documentation, validated financials and provided expertise to ensure compliance with negotiated agreements.
There has never been a material weakness in the treasurer function while Andrew Brooks has been in office. Treasurer Brooks has shown that he is a partner with the Audit Committee and elected officials in solving problems. We must all be thankful for Andrew Brook’s service and must re-elect him for the sake of New Canaan.
Roy A. Abramowitz, CPA