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File #: 2018-1051    Version: 1 Name:
Type: Resolution Status: Passed
File created: 12/10/2018 In control: Board of Directors Workshop Meeting
On agenda: 12/12/2018 Final action: 12/12/2018
Title: Approval of Audit and Related Draft Financial Reports Pertaining to the Fiscal Year Ended June 30, 2018
Sponsors: Nicolette Bateson
Indexes: Finance
Attachments: 1. 2018-1051.GLWA - SAS Ltr (Draft), 2. 2018-1051.GLWA - SA (Draft), 3. 2018-1051.GLWA - CAFR (Draft), 4. DWSD Revenue Revision_GLWA Board Memo
Title
Approval of Audit and Related Draft Financial Reports Pertaining to the Fiscal Year Ended June 30, 2018
Body

Agenda of: December 12, 2018
Item No.: 2018-1051
Amount: N/A

TO: The Honorable
Board of Directors
Great Lakes Water Authority

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

DATE: December 12, 2018


RE: Approval of Audit and Related Draft Financial Reports Pertaining to the Fiscal Year Ended June 30, 2018


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 Draft Reports Pertaining to the Fiscal Year Ended June 30, 2018 Financial Audit (the FY 2018 Comprehensive Annual Financial Report, the FY 2018 Single Audit Act Compliance Report, and the FY 2018 Independent Auditor's Communication with those Charged with Governance) and authorizes staff to proceed with the completion and filing of the annual audit prior to the due date with the state of Michigan before December 31, 2018; and authorizes the CEO to take such other action as may be necessary to accomplish the intent of this vote.


BACKGROUND
GLWA's second twelve-month financial audited financial reports for the Great Lakes Water Authority (GLWA) for the year ended June 30, 2018 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, 2018 include the following and are attached:
* FY 2018 Comprehensive Annual Financial Report (CAFR)
* FY 2018 Single Audit Act Complianc...

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