735 Randolph Street  
Detroit, Michigan 48226  
glwater.legistar.com  
Great Lakes Water Authority  
Meeting Minutes - Final  
Audit Committee  
Monday, June 17, 2024  
8:00 AM  
Zoom Telephonic Meeting  
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1. Call To Order  
2. Quorum Call  
Chairperson Baker called the meeting to order at 8:05 a.m.  
3 - Chairperson Brian Baker, Director Gary Brown, and Director Jaye Quadrozzi  
Present:  
3. Approval of Agenda  
Chairperson Baker requested a Motion to Approve the Agenda.  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Approved  
The motion carried by a unanimous vote.  
4. Approval of Minutes  
2024-197  
A.  
Minutes of April 29, 2024  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 4A Minutes - April 29, 2024 Audit Committee Meeting.pdf  
Chairperson Baker requested a Motion to Approve the April 29, 2024 Audit  
Committee Meeting Minutes.  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Approved  
The motion carried by a unanimous vote.  
5. Public Comment  
6. Old Business  
There were no public comments.  
2024-196  
A.  
2024 Municipal Bond Refunding Transaction Results  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 6A1 AC Memo - 2024 Bond Transaction Update.pdf  
6A2 GLWA Board Presentation 2024 Bond Deal FINAL.pdf  
6A3 Moodys  
Credit_Opinion-Great-Lakes-Wtr-Auth-MI-Update-14May2024-PBM_14  
07671.pdf  
6A4 S and P Water  
RatingsDirect_SummaryGreatLakesWaterAuthorityMichigan_5823898  
4_May-14-2024.PDF  
6A5 S and P Sewer  
GreatLakesWaterAuthorityMichigan_May-14-2024.PDF  
6A6 Fitch Published GLWA Water System Release_May 13 2024.pdf  
6A7 Fitch Published GLWA Sewage System Release_May 13  
2024.pdf  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2024-224  
B.  
Report on Status of Conditions Precedent Related to Bad Debt Recovery  
Credit  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments:  
6B1 Memo Report on Status of Conditions Precedent re HP Credit  
6.14 at 1.34PM.pdf  
6B2 Bad-Debt-Recovery-Credit-Pending-Approved-11.16.2023.pdf  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
7. New Business  
2024-195  
A.  
Resolution Regarding Approval of Series Ordinance Authorizing  
Issuance and Sale of Sewage Disposal System Revenue Bonds in  
an Aggregate Amount Not to Exceed $66,096,901 (Ordinance  
2024-04)  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments:  
7A3 Series Ordinance 2024 SRF-3-4, Q4 NWI Oakwood CIP 222001  
and DWSD W Chicago S  
7A4 Resolution Approving Series Ordinance 2024 SRF-3-4 NWI  
Oakwood CIP 222001 and DWSD W Chicago S  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Recommended for Approval to the Board of Directors  
Agenda of June 26, 2024  
The motion carried by a unanimous vote.  
2024-198  
B.  
Resolution to Approve the FY 2024 Third Quarter Budget  
Amendments  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments:  
7B2 FY 2024 3rd Quarter Budget Amendment Report updated  
6-18-2024 with Yellow.pdf  
7B3 Board Letter Attachment 6.26.2024 Superseded Budget  
Amendment Pages with blue.pdf  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Recommended for Approval to the Board of Directors  
Agenda of June 26, 2024  
The motion carried by a unanimous vote.  
8. Reports  
A. CFO Report (Verbal)  
Nicolette Bateson, Chief Financial Officer/Treasurer, provided a verbal  
update on the launch of Workday and The Foster Group contract ending June  
30, 2024, with a Request for Proposal issued for a Charges Only Contract.  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Receive and File  
The motion carried by a unanimous vote.  
2024-225  
B.  
C.  
D.  
Monthly Financial Report for February 2024  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8B February 2024 Financial Report.pdf  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2024-226  
Gifts, Grants & Other Resources Report  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8C Grants Gifts and Other Resources Report.pdf  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2024-227  
Quarterly Investment Report  
Nicolette Bateson  
Sponsors:  
Indexes:  
Finance  
Attachments: 8D1 Quarterly Investment Report Cover Memo_May 2024.pdf  
8D2 GLWA_Quarterly_Report_March 2024_Final.pdf  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Received and Filed  
The motion carried by a unanimous vote.  
9. Communications  
2024-228  
a.  
The Procurement Pipeline for May 2024  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 9A The Procurement Pipeline for May 2024.pdf  
No Action Taken  
10. Look Ahead  
The Friday, June 28, 2024, 8:00 a.m., Audit Committee Meeting is canceled.  
The next regular Audit Committee Meeting is scheduled for Friday, July 26, 2024, at 8:00 a.m.  
11. Other Matters  
There were no other matters.  
12. Adjournment  
Chairperson Baker requested a Motion to Adjourn.  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Approved  
The motion carried by a unanimous vote.  
There being no further business, the meeting was adjourned at 9:34 a.m.