HomeMy WebLinkAbout11/14/2006 AC minutes
DRAFT
AUDIT COMMITTEE
MINUTES OF THE MEETING HELD
NOVEMBER 14,2006
3RD FLOOR EXECUTIVE CONFERENCE ROOM - VILLAGE HALL
I. Call to Order
The meeting was called to order at 6:00pm. Members present were Mayor Irvana Wilks,
Finance Committee Chair Chuck Bennett, Committee Appointee Tom Munz, and Director of
Finance David Erb. Trustee Tim Corcoran arrived at 6:45pm.
II. Election of Committee Chairperson
This item was deferred to the end of the meeting.
III. Election of Vice-Chair and Secretary
This item was deferred to the end of the meeting.
IV. Approval of Minutes
No prior meeting minutes to approve.
V. Director of Finance Report
No report at this time. Items to be covered under New Business
VI. Old Business
There was no old business.
VII. New Business
There were several items under New Business discussed relevant to the 2005 annual audit. A
brief review of the audit documents and letters of correspondence was held. Committee
members asked questions related to information that was presented.
A detailed discussion of the upcoming audit for year ending 12/31/2006 was held. The audit
timeline was discussed along with the Letter of Understanding which provides scope of
service for the engagement.
VIII. Other Business
It is at this point of the meeting that a vote was held for the election of officers. The three
positions that were to be filled were Committee Chair, Vice-Chair and Secretary. The
following committee members were selected to fill the three positions:
Committee Chair - Tom Munz
Committee Vice-Chair - Chuck Bennett
Secretary - David Erb
A motion was made by Corcoran, seconded by Bennett to approve these officers. The vote
was 5 ayes, 0 nays.
IX. Next Meeting
The next meeting is set for Tuesday, December 19,2006 at 6:00pm. The meeting will be
held in the 3rd floor executive conference room.
X. Adjournment
The meeting adjourned at 7:03pm
Respectfully Submitted,
David O. Erb
Secretary Audit Committee
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