AUDIT COMMITTEE MEETING
JUNE 20, 2007
A meeting of the Audit Committee of the Enlarged City School District of Middletown, New York was held on Wednesday, June 20, 2007, at 223 Wisner Avenue, Middletown, New York. The meeting was called to order at 6:40 p.m.
Present: Susan Botti, Vincent Crescenzo, Linda Knapp
Invitee: Elizabeth McKean, Nicholas Mauro (arrived at 6:45 p.m.), Andrew Arias, Cooper, Niemann & Co, LLP
Mr. Arias, from Cooper, Niemann, the District’s External Auditor, discussed what they intend to accomplish this year as our External Auditor:
- Will give opinion on financial statements
- Concerned with materiality, will give opinions
- They conduct a single audit – will be looking at Title 1 Program
- Compliance
- Internal Controls
- Contract for Excellence – will sign off on this as auditors
- Cash receipts, cash disbursements
Mr. Arias stated that they do a random sampling in conducting their audit.
Mr. Arias advised that the entrance conference is an opportunity for the Board to address their areas of concern.
Mrs. McKean advised that the group was in last week to start the test work.
Mr. Arias stated that they will get drafts to the Audit Committee by September (approximately).
Mrs. McKean told the Committee that on August 11, 2007, the External Auditor’s will be in to audit statements.
Meeting adjourned at 6:55 p.m.
Respectfully submitted,
Michelle K. Towle
District Clerk