Guest sullinss Posted May 11, 2005 Report Share Posted May 11, 2005 Proceedings of the Audit Committee District No. 2, Yellowstone County and High School District No. 2, Yellowstone County April 20, 2005 Call to Order Chair Jane McCracken called the Audit Committee to order at 12:15 p.m. on Wednesday, April 20, 2005, in Room 216 of the Lincoln Center. Committee members in attendance were Jane McCracken, Dale Getz, Conrad Stroebe, and Dick Fellows (via speakerphone). Absent was member Mike Dimich. Also in attendance was Business Manager Thomas Harper. There was no quorum of the Audit Committee at the meeting held on April 13, 2005. Therefore, the agenda items are being reconsidered at this meeting. Review and Recommendation of Responses to Audit Request for Proposals Bids were received from Eide Bailly LLP, Galusha, Higgins & Galusha, P.C., Joseph Eve, and Olness & Associates, P.C.: Bids for Audit (only) YR2005 YR2006 YR2007 HRS/YR Eide Bailly LLP $49,000 $51,000 $53,000 510 Galusha, Higgins & Galusha, P.C. $47,850 $48,900 $50,900 360 Joseph Eve (single yr. $60,000) $55,000 $55,000 $55,000 484 Olness & Associates, P.C. $46,995 $46,995 $46,995 580 Committee members have reviewed the audit RFP’s and evaluated them based on the criteria of: cost, mandatory specifications, auditor qualifications, auditor references and past school district’s audit experience, and ability and willingness to meet time requirements. Committee members wish to engage in a three-year contract for the audit only and keep the preparation of financial statements a separate item. The District reserves the right to reject any or all proposals at any time with no penalty and to waive immaterial defects and minor irregularities in proposals and to award the contract to the organization considered to be best suited to the needs of the School District; and to waive informalities. State law does not obligate the District to accept the lowest bid. The independence issue of whoever prepares the financials still needs to be resolved. Jane was unable to reach anyone at the Montana AICPA Association in Helena for their opinion. Dale Getz introduced a motion to recommend the Board accept the proposal from Eide Bailly LLP for a three-year contract to perform audits, only, for School District No. 2 for years 2005, 2006, and 2007. Conrad Stroebe seconded the motion. The motion carried unanimously. Dale Getz will advise the Business Committee of the Audit Committee’s recommendation. The Audit Committee’s recommendation will proceed to the Board of Trustees for approval. Audit Committee Membership Discussion was held on potential committee members. Two new community committee members will be needed, and a new Board member will be needed in May. An application will be sent to Stan Moser, VP-CFO, of Deaconess. Minutes The minutes of November 23, 2004 were approved at the Regular Board meeting in April. The minutes of the April 13, 2005 meeting was reviewed by committee members and will be forwarded to the Board for approval. Adjournment There being no further business, the meeting was adjourned at 12:42 p.m. Jane McCracken, Chair Sherrill Sullins, Recorder Link to comment Share on other sites More sharing options...
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