Great Lakes Water Authority Logo
File #: 2018-735    Version: 1 Name:
Type: Resolution Status: Filed
File created: 5/7/2018 In control: Board of Directors Workshop Meeting
On agenda: 5/9/2018 Final action: 5/9/2018
Title: Approval of Audit and Related Financial Reports Pertaining to the Fiscal Year Ended June 30, 2017
Sponsors: Nicolette Bateson
Attachments: 1. GLWA - FS 6-30-17 (Draft), 2. GLWA - SA 6-30-17 (Draft), 3. GLWA - SAS Ltr 6-30-17 (Draft)
Title
Approval of Audit and Related Financial Reports Pertaining to the Fiscal Year Ended June 30, 2017
Body

Agenda of: May 9, 2018
Item No.: 2018-735
Amount: Not Applicable

TO: The Honorable
Board of Directors
Great Lakes Water Authority

FROM: Sue F. McCormick
Chief Executive Officer
Great Lakes Water Authority

DATE: May 9, 2018


RE: Approval of Audit and Related Financial Reports Pertaining to the
Fiscal Year Ended June 30, 2017


MOTION

Upon recommendation of Nicolette N. Bateson, Chief Financial Officer/Treasurer, The Board of Directors (Board) of the Great Lakes Water Authority (GLWA), moves to receive and file the Reports Pertaining to the Fiscal Year Ended June 30, 2017 Financial Audit (the FY 2017 Comprehensive Annual Financial Report, the FY 2017 Single Audit Act Compliance Report, and the FY 2017 Independent Auditor's Communication with those Charged with Governance); and authorizes the CEO to take such other action as may be necessary to accomplish the intent of this vote.



BACKGROUND
The inaugural twelve-month financial audited financial reports for the Great Lakes Water Authority (GLWA) for the year ended June 30, 2017 are nearly complete. The final step is review and requested approval by the GLWA Board of Directors based upon draft reports. This will enable staff to those reports with the state of Michigan Department of Treasury, the federal clearinghouse for the single audit report, and the Electronic Municipal Market Access system ("EMMA") for Municipal Securities Rulemaking Board ("MSRB") requirements, and others.
JUSTIFICATION
The draft reports pertaining to the Fiscal Year Ended June 30, 2017 include the following and are attached.
* FY 2017 Comprehensive Annual Financial Report (CAFR)
* FY 2017 Single Audit Act Compliance Report
* FY 2017 Independent Auditor's Communication with those Charged with Governance
Prior drafts of the CAFR have been distributed as well as posted on the Audit C...

Click here for full text