Loading...
HomeMy WebLinkAbout1994-11-18 - Finance-Accounting Committee Meeting Minutes ' ITEM NO. 17 AGENDA REPORT ' DATE: December 8, 1994 ' TO: President and Members of the Board FROM: Finance-Accounting Committee SUBJECT: Summary Minutes of Finance-Accounting Committee Meeting ' On November 18, 1994, the Finance-Accounting Committee held a meeting. Present were Arthur C. Korn, Michael J. Beverage, William Robertson and Beverly Meza. The following items were discussed at the meeting: ' 1. Financial Statements : Ms. Meza reviewed the Financial Statements for the three months ending September 30, 1994. The committee reviewed and discussed the Financial Statements and offered advice to staff. This item will be presented for action at the November 22, Board of ' Directors meeting. 2. Selection of Auditors: Ms. Meza reported that under the Single Audit Act of 1984 the ' Government requires audits for FEMA grants in excess of $100,000. Ms. Meza went on to report that Diehl Evans & Company has presented a proposal to accomplish said audit for a price not to exceed $5,000. The committee discussed this information and offered advice to the staff. This matter will be presented to the Board for action at a future date. 3. Selection of Auditors: Ms. Meza reported that 1993-94 was the third of the three year contract with Diehl Evans & Company and pursuant to District Policy it is time to solicit proposals ' for outside auditors. Ms. Meza then reported that Diehl Evans has sent different individuals to conduct YLWD's last time audits so it feels like the audit each year was conducted by a different firm. Consequently, Ms. Meza would like to retain Diehl Evans & Company for another year. ' Diehl Evans has submitted a proposal to conduct the 1994-95 audit amount of $13,950. The committee discussed this matter and offered advice to the staff. This matter will be presented to the board at a later date. t 4. Citizens Advisory Committee: Mr. Robertson presented a report on the CAC meeting at which the Bartle Wells Phase III Financing Plan report was presented. The Financing Plan will be presented for action at the November 22, Board of Directors Meeting. ' S. Fiscal Year 1994-95 Water Rates. Mr. Robertson presented a report on water rates for the year 1994-95 through the year 1997-98. The Committee discussed several options. Given the ' diversity of options and opinions, this matter will be presented to the full Board for further discussion.