AUDIT COMMITTEE
					MEETING MINUTES

					March 20, 2003


A regular meeting of the Chippewa County Board of Commissioners Audit Committee was held on Thursday,
March 20, 2003 at the Chippewa County Courthouse in Sault Ste. Marie, Michigan.  Chairperson Rita Dale 
called the meeting to order at 5:00 p.m. with a quorum present.

MEMBERS PRESENT:        Rita Dale, Chairperson, Don Cooper, and Richard Timmer

OTHER
COMMISSIONERS PRESENT:	Earl Kay

MEMBERS ABSENT:		None

OTHERS PRESENT:		Tim Dolehanty, County Controller, Dave Carpenter, Finance
			Director, Phil Wolfe, Anderson, Tackman & Company

Additions / Deletions to the Agenda
Chairperson Dale called for changes to the agenda.  Hearing none, the agenda was declared approved as 
presented.

Public Comments
There were no public comments.

Agenda Item:  Presentation of Annual Audit
Auditor Phil Wolfe presented and reviewed documents included in the annual audit report and explained the 
purpose of each. He told the Committee that the documents did not include general purpose financial 
statements from the Road Commission because that audit was not yet complete.

Mr. Wolfe reviewed the independent auditor's opinion.  He stated this was a clean opinion and explained the 
various tests conducted to reach this conclusion.

Mr. Wolfe then discussed changes to the audit report that will be implemented as a result of requirements
adopted by the Government Accounting Standards Board (GASB).  The most significant changes will involve 
reporting of net assets.  The Road Commission will be especially impacted with an inventory and depreciation 
schedule of all roads, signs, etc.

Mr. Wolfe presented and reviewed the general fund balance sheet, a number of graphs, and his Report to 
Management and the meaning of each section of the report.  The Committee discussed issues concerning the 
fixed assets inventory with Mr. Wolfe.  It was agreed that fixed assets with a value of $5,000 and higher
should be included in the inventory.  Controller Tim Dolehanty and Finance Director Dave Carpenter 
commented on problems encountered with the fixed assets computer software.  Both agreed to develop a 
spreadsheet to present the fixed assets inventory in a manner consistent with the requirements of the auditor.

It was moved by Commissioner Cooper, supported by Commissioner Timmer, to forward the primary 
audit statement to the Finance, Claims and Accounts Committee with a recommendation of approval.  
On a voice vote, the motion was CARRIED.

Public Comments
There were no public comments.

Commission Comments
There were no additional comments from Commissioners.

Chairperson's Comments
The Chairperson had no additional comments.

Adjourn
Hearing no other comments, Chairperson Dale declared the meeting adjourned at 6:12 p.m.








__________________________________	__________________________________
Timothy J. Dolehanty, AICP, Recorder	Rita Dale, Chairperson