AUDIT COMMITTEE MEETING

SEPTEMBER 26, 2006

A meeting of the Audit Committee of the Enlarged City School District of Middletown, New York was held on Tuesday, September 26, 2006, at 223 Wisner Avenue, Middletown, New York. The meeting was called to order at 6:20 p.m.

Present: Edwin Estrada (arrived 6:25 p.m.), Raquel Martinez (arrived 6:20 p.m.), Rose Tobiassen (arrived 6:15 p.m.)

Absent: William Geiger

Invitee: Elizabeth McKean

The Audit Committee discussed the draft Charter. No changes were made. The draft will be sent to the Board of Education members and the Board will be advised to send any questions to Ms. McKean to forward to the Audit Committee members for response and consideration. The Audit Committee will ask for inclusion on the October 5, 2006, Board of Education meeting agenda for the Board to approve the Audit Committee Charter.

The Committee reviewed RFP’s for internal auditor. The Committee discussed a work schedule of quarterly: September – November, report to Committee in December. December – February, report to Committee in March. March – May, report to Committee in June.

The Committee asked Ms. McKean to request the scope of work from one RFP provider for scope of services within a specific dollar value, to be completed by October 1, 2006.

The Audit Committee spoke about their wish to discuss the final selection of Internal Auditor in an Early Executive Session at the October 5, 2006 Board of Education meeting. The Committee stated they would need about a half hour for discussion and would ask for the approval to appoint the Internal Auditor on the Board agenda.

The Committee also wishes to request copies of the draft external report by October 5, 2006 from the External Auditor for review before presentation on October 10, 2006 Board of Education Pre-Agenda meeting.

Meeting adjourned at 7:20 p.m.

Respectfully submitted,

Michelle K. Towle

District Clerk