AUDIT COMMITTEE

MEETING MINUTES

August 26, 2004

A regular meeting of the Chippewa County Board of Commissioners Audit Committee was held on Thursday, August 26, 2004 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 Earl Kay

OTHER

COMMISSIONERS PRESENT: None

MEMBERS ABSENT: None

OTHERS PRESENT: Tim Dolehanty, County Controller, Dave Carpenter, Finance Director, Phil Wolf, Anderson, Tackman & Company, Marilyn McDonald, Treasurer

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 reviewed the independent auditor’s opinion and stated this was a clean opinion. Mr. Wolf then discussed changes to the audit report that were implemented as a result of requirements adopted by the Government Accounting Standards Board (GASB).

Mr. Wolf presented and reviewed the general fund balance sheet, a number of graphs, his Report to Management and the meaning of each section of the report. The Committee discussed issues concerning the fixed assets inventory. Mr. Wolf described the exercise as an accounting function that should be undertaken by the Finance Director.

It was moved by Commissioner Cooper to assign the fixed assets function to the Finance Director. The motion DIED for lack of support.

Chairperson Dale asked that minutes from the 2003 Audit Committee meeting be made available to all commissioners.

Committee members agreed that the auditor should meet with the Friend of the Court and the District Court to resolve outstanding issues, and that a committee representative should be included in the meeting. Chairperson Dale volunteered to meet with the Friend of the Court.

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

It was moved by Commissioner Cooper, seconded by Commissioner Kay, to adjourn the meeting. On a voice vote, the motion was CARRIED.

Chairperson Dale declared the meeting adjourned at 6:10 p.m.

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