HomeMy WebLinkAbout2005-11-08 - Finance-Accounting Committee Meeting MinutesITEM NO. 17e~5
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YORBA LINDA WATER DISTRICT NOV 2 05
FINANCE - ACCOUNTING COMMITTEE MEETING
November 8, 2005
A meeting of the Finance-Accounting Committee was called to order by Committee
Chairman William Mills at 4:05 p.m. The meeting was held at the District Headquarters,
4622 Plumosa Drive, Yorba Linda.
DIRECTORS PRESENT: STAFF PRESENT:
Director William Mills, Chair Michael A. Payne, General Manager
Ric Collett, Director Beverly Meza, Business Manager
VISITORS PRESENT:
Kathryn Beseau, Partner at Moreland & Associates, Inc.
ACTION ITEMS:
1. Presentation of the 2004/05 Audit by Moreland & Associates, Inc.
Ms. Beseau discussed their management letter, Gann letter, significant accounting
policies letter (SAS 61), and the audit. The committee asked questions, reviewed
the letters and audited financial statements for the year ended June 30, 2005.
Recommendation: The Committee will recommend to the Board of Directors
that the audited financial statements be received and filed.
Kathryn Beseau left the meeting at 4:50 P.m.
STANDING ITEMS:
2. Status report on investments
Michael Payne reported that $15,000,000 had been transferred to Wells Capital
and staff will review other funds to transfer to Wells Capital.
INFORMATION ITEMS:
3. None
ADJOURNMENT:
The Committee adjourned at 5:00 p.m.
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