735 Randolph Street  
Detroit, Michigan 48226  
glwater.legistar.com  
Great Lakes Water Authority  
Meeting Minutes - Final  
Audit Committee  
Friday, November 17, 2023  
8:00 AM  
Zoom Telephonic Meeting  
1. Call To Order  
Chairperson Baker called the meeting to order at 8:01 a.m.  
2. Quorum Call  
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  
2023-440  
A.  
Approval of minutes from November 9, 2023  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 4A Minutes - November 9, 2023 Audit Committee Meeting  
Chairperson Baker requested a Motion to Approve the November 9, 2023 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.  
2023-441  
A.  
Annual Financial Report Update  
Nicolette Bateson  
Sponsors:  
Finance  
Indexes:  
Attachments: 6A1 FY 2023 Annual Financial Audit Update  
6A1.1 FY 2023 Annual Financial Audit BT Timeline Update 112023  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2023-443  
B.  
Final Report: 2023 Tender, Refunding, and New Money Bond Transaction  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 6B0 Report 2023 Tender Refunding New Money Bond Transaction  
6B1 GLWA Board Presentation 2013 Bond Deal 1.16.2023  
6B2 Fitch 2023.11.10_GLWA (MI)_WATER_SER2023_Final Report  
6B3 Fitch 2023.11.10_GLWA (MI)_SEWER_SER2023_Final Report  
6B4 Moody's  
Credit_Opinion-Great-Lakes-Wtr-Auth-MI-Update-26Oct2023  
6B5 SPCreditResearch_Analysis Water 10_26_2023  
6B6 SPCreditResearch_Analysis Sewer 10_26_2023  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
7. New Business  
2023-442  
A.  
Proposed Calendar Year 2024 Audit Committee Meeting  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 7A1 2024 Audit Committee Meeting Calendar  
7A2 Audit Committee Proposed 2024 Meeting Schedule Notice  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Approved  
The motion carried by a unanimous vote.  
8. Reports  
2023-445  
A.  
CFO Report (Verbal)  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Nicolette Bateson, Chief Financial Officer/Treasurer, provided a verbal update  
stating next month's Audit Committee meeting will be updates on staffing, in  
addition to getting the budget balanced to provide a report for the Audit  
Committee's consideration.  
2023-444  
B.  
Monthly Financial Reports for July 2023 and August 2023  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8B1 July 2023 Financial Report  
8B2 August 2023 Financial Report  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2023-446  
C.  
Business Inclusion and Diversity Program Update  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8C Business Inclusion and Diversity Program Update  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2023-447  
D.  
Charges Outreach & Modeling Update  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8D Charges Outreach and Modeling Update - 11-17-2023  
8D1 2023.10.31_Presentation_AWG_2023_Exceedance_FINAL  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2023-448  
E.  
F.  
G.  
Affordability & Assistance Update  
Nicolette Bateson  
Sponsors:  
Finance  
Indexes:  
Attachments: 8E Affordability & Assistance Update  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2023-449  
Gifts, Grants & Other Resources Report  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8F Grants Gifts and Other Resources Report  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2023-450  
Semi-Annual Debt Report as of September 30, 2023  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8G Semiannual Debt Report as of 9.30.2023  
Motion By: Jaye Quadrozzi  
Support By: Brian Baker  
Action: Received and Filed  
The motion carried by a unanimous vote.  
9. Communications  
Nicolette Bateson, Chief Financial Officer/Treasurer, noted the Procurement  
Pipeline was in the Audit Committee Packet, but was not highlighted on the  
Agenda.  
A Special Audit Committee Meeting is scheduled Friday, December 8, 2023 at  
8:00 a.m. to receive the Annual Audit Report from Baker Tilley.  
At the regular Audit Committee Meeting scheduled Friday, December 15, 2023,  
the focus will be on the Proposed Budget and Charges, and the updated Fiscal  
Plan.  
10. Look Ahead  
A Special Audit Committee Meeting is scheduled for Friday, December 8, 2023 at 8:00 a.m.  
The regular Audit Committee Meeting is scheduled for Friday, December 15, 2023 at 8:00 a.m.  
11. Other Matters  
12. Adjournment  
There were no other matters.  
Chairperson Baker requested a Motion to Adjourn.  
Motion By: Jaye Quadrozzi  
Support By: Brian Baker  
Action: Approved  
The motion carried by a unanimous vote.  
There being no futher business, the meeting was adjourned at 9:10 a.m.