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File #: 2019-458    Version: 1 Name:
Type: Resolution Status: Filed
File created: 12/16/2019 In control: Board of Directors
On agenda: 12/19/2019 Final action: 12/19/2019
Title: Approval of Audit and Related Draft Financial Reports Pertaining to the Fiscal Year Ended June 30, 2019
Sponsors: Nicolette Bateson
Indexes: Finance
Attachments: 1. 6C1 GLWA CAFR FINAL DRAFT.pdf, 2. 6C2 GLWA Audit Presentation by Auditors.pdf, 3. 6C3 Communication to Those Charged with Governance.pdf, 4. 6C4 Management Letter - Informal.pdf, 5. 6C5 Single Audit Report on Federal Awards.pdf, 6. FY 2019 Annual Financial Results
Title
Approval of Audit and Related Draft Financial Reports Pertaining to the Fiscal Year Ended June 30, 2019
Body

Agenda of: December 19, 2019
Item No.: 2019-458
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: December 19, 2019


RE: Approval of Audit and Related Draft Financial Reports Pertaining to the Fiscal Year Ended June 30, 2019

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, 2019 Financial Audit (the FY 2019 Comprehensive Annual Financial Report, the FY 2019 Single Audit Act Compliance Report, and the FY 2019 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, 2019; and authorizes the CEO to take such other action as may be necessary to accomplish the intent of this vote.


BACKGROUND
GLWA's third twelve-month financial audited financial reports for the Great Lakes Water Authority (GLWA) for the year ended June 30, 2019 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 file 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, 2019 include the following and are attached:
* Presentation by Ms. Jodi Dobson, Partner, BakerTilly (external auditor)
* FY ...

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