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Home My WebLink About06/16/2009 AC MinutesAUDIT COMMITTEE MINUTES OF THE MEETING HELD JUNE 16, 2009 3RD FLOOR EXECUTIVE CONFERENCE ROOM — VILLAGE HALL I. Call to Order The meeting was called to order at 6:03pm. Members present were Mayor Irvana Wilks, Committee Chair Tom Munz, Committee members Matuszak and Grochocinski and Finance Director David Erb. II. Approval of Minutes Approval of Minutes for January 27, 2009. Motion to approve was made by Grochocinski and Seconded by Matuszak. Minutes were approved. III. Chair Report No report. IV. Director of Finance Report No report at this time. Erb would be discussing items falling under New Business. V. Old Business None. VI. New Business a. Review Draft Audit Request for Proposal — Committee members were provided a draft of the auditor RFP for review and comments. A timeline for selecting a new auditor was also presented. General discussion was held regarding the content of the RFP; specific discussion included the desire to have in -depth reviews performed by the auditor of various business processes. This language will be included in the final document. Responses to the RFP will be due September 16 with in- person interviews shortly thereafter. b. Update on 2008 Audit —A brief review of the audit documents and letters of correspondence was held. Audit reports included the Comprehensive Annual Financial Report, Single Audit Report and Tax Increment Financing District Report. Letters of correspondence reviewed were the Representation letter, Management letter and Communication with Audit Audit Committee — Minutes June 16, 2009 Committee. Director Erb presented various sections of the audit report including the transmittal letter, auditor report, and the Management's Discussion and Analysis. Additional discussion among committee members followed. VII. Other Business No Other Business at this time. VIII. Next Meeting TBD IX. Adjournment Erb motioned to adjourn the meeting and Mayor Wilks seconded. The meeting adjourned at 6:55pm Respectfully Submitted David O. Erb Finance Director 2