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Minutes of Board of Finance – Special, 12/15/2014

AGENDA: Board of Finance – Special

RECEIVED 12/18/2014 12:45pm
Michele R. Grande – Redding Town Clerk

Minutes

Present: Alvarez (Chairman), Clark, DeSalvo, Dolan (7:09 pm), Mazzucco, Yonkers
Also present: First Selectman Pemberton, Selectmen Karvelis & Thompson, Finance Director Gniadek, Treasurer O’Donnell, 16 members of the public, and the videographers

Chairman Alvarez called the Special Meeting on December 15, 2014 to order at 7:00 pm in the Redding Community Center.

REVIEW OF FISCAL YEAR 2013-14 CAFR AUDIT REPORT
Mr. Gniadek began the presentation of the CAFR (Comprehensive Annual Financial Report) audit report by thanking staff members Lori McHale and Krista Gramer, the school’s accountant Kathy Kovalik, staff members of McGladrey, LLP, Treasurer Peg O’Donnell, and members of the Board of Selectmen, and Board of Finance.

Mr. Gniadek noted that the transition to the new accounting firm of McGladrey, LLP was very challenging and detailed in scope. He introduced Scott A. Bassett, McGladrey LLP for review of the work the firm performed.

Mr. Bassett described the work of performing the audit of the Town’s financial records. He reviewed the various footnotes that accompanied the audit report. Discussion with questions and answers followed. In particular, Mr. Bassett confirmed that the bookkeeping irregularities, leading to the prior year restatement described in footnote 15, do not reflect any missing funds.

Motion: move that the Redding Board of Finance accept the CAFR Audit Report as presented. Mazzucco, Yonkers. Approved Unanimous.

PUBLIC COMMENT
Brenda Phelps, Indian Hill Road: Ms. Phelps asked when the audit report would be available to the public. Mr. Gniadek noted that the report would probably be posted on the Town’s website on Monday, December 22, 2014.

James Miller, Middlebrook Pond Road: Mr. Miller noted that it was difficult for the audience to hear the entire discussion and suggested that a microphone would be helpful. Mr. Alvarez noted the comment and a microphone would be available for the next meeting.

ADJOURNMENT
Motion: move that the Redding Board of Finance meeting be adjourned. Mazzucco, Yonkers. Approved. Unanimous.

The meeting adjourned at 7:30 pm

Submitted by Mary Maday, Recording Secretary