735 Randolph Street  
Detroit, Michigan 48226  
glwater.legistar.com  
Great Lakes Water Authority  
Meeting Minutes - Final  
Audit Committee  
Monday, July 25, 2022  
8:00 AM  
Zoom Telephonic Meeting  
1. Call To Order  
Chairperson Baker called the meeting to order at 8:01 a.m.  
2. Roll Call  
3 - Chairperson Brian Baker, Director Gary Brown, and Director Jaye Quadrozzi  
Present:  
3. Approval of Agenda  
Nicolette Bateson, Chief Financial Officer/Treasurer, requested to move Item 7.H.  
(Audit Engagement Letter and Timeline) to Item 7.A.  
Chairperson Baker requested a Motion to Approve the Agenda as Amended.  
Motion By: Jaye Quadrozzi  
Support: Gary Brown  
Action: Approved as Amended  
The motion carried unanimously.  
4. Approval of Minutes  
2022-269  
A.  
Minutes of May 27, 2022  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 4A May 27, 2022 Audit Committee Meeting Minutes  
Chairperson Baker requested a Motion to Approve the May 27, 2022 Audit  
Committee Meeting Minutes.  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Approved  
The motion carried by a unanimous vote.  
2022-270  
B.  
Minutes of June 7, 2022  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 4B June 7, 2022 Special Audit Committee Meeting Minutes  
Chairperson Baker requested a Motion to Approve the June 7, 2022 Audit  
Committee Special 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  
7. New Business  
There were no public comments.  
None  
2022-314  
H.  
Audit Engagement Letter and Timeline  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 7H1 FY 2022 Annual Financial Audit Update Memo  
7H2 GLWA AUD PS Audit Eng Ltr 2022 07 15  
7H3 FY 2022 Annual Financial Audit Update_BT Timeline  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-307  
A.  
Presentation: 10-Year Forecast Update  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 7A1 Audit Committee Memo - 10-Year Financial Forecast Update  
7A2 Series 2022 AC Presentation  
7A3 GLWA Forecast 072022  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-308  
B.  
Presentation: 2022 Bond Transaction Briefing  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 7B1 Audit Committee Memo - 2022 Bond Transaction Briefing  
7B2 Series 2022 Audit Committee Presentation (7-19-2022) v3  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-309  
C.  
Expanded Authorization on Debt Policy Provisions for the 2022  
Bond Series Transaction  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments:  
7C1 Audit Committee Memo - Expanded Authorization on Debt Policy  
Provisions  
2022-309 7B2 Series 2022 Audit Committee Presentation (7-19-2022)  
v3  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Recommended for Approval to the Board of Directors  
Agenda of July 29, 2022  
The motion carried by a unanimous vote.  
2022-310  
D.  
Resolution Regarding Approval of Series Ordinance Authorizing  
Issuance and Sale of Water Supply System Revenue and Revenue  
Refunding Bonds in a Principal Amount Not to Exceed $735,000,000  
(Ordinance 2022-06)  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments:  
7D1 Audit Committee Memo- Water Revenue and Refunding Series  
Ordinance  
7D2.1 Water Bond Transaction Crosswalk Attachment 1  
7D3 4876-9174-6339 v5 Series Ordinance (2022 Water)  
7D4 4879-6149-2515 v1 Resolution Approving 2022 Water Series  
Ordinance  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Recommended for Approval to the Board of Directors  
Agenda of July 29, 2022  
The motion carried by a unanimous vote.  
2022-311  
E.  
Resolution Regarding Approval of Series Ordinance Authorizing  
Issuance and Sale of Sewage Disposal System Revenue and  
Refunding Bonds in a Principal Amount Not to Exceed $730,000,000  
(Ordinance 2022-07)  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments:  
7E1 Audit Committee Memo- Sewer Revenue and Refunding Series  
Ordinance  
7E2.1 Sewer Bond Transaction Crosswalk Attachment 1  
7E3 4870-1764-3043 v5 Series Ordinance (2022 Sewer)  
7E4 4873-7094-7619 v1 Resolution Approving 2022 Sewer Series  
Ordinance  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Recommended for Approval to the Board of Directors  
Agenda of July 29, 2022  
The motion carried by a unanimous vote.  
2022-312  
F.  
Resolutions Authorizing Publication of Notice of Intent to Issue  
Water Supply System and Sewage Disposal System Revenue  
Bonds  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 7F1 Notice of Intent to Issue Bonds  
7F3 4877-2310-2757 v1 Resolution Regarding Publication of Notice of  
Intent to Issue Bonds Water 2022  
7F4 4880-2614-1221 v1 Resolution Regarding Publication of Notice of  
Intent to Issue Bonds Sewer 2022  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Recommended for Approval to the Board of Directors  
Agenda of July 29, 2022  
The motion carried by a unanimous vote.  
2022-313  
G.  
Resolution Regarding Approval of Series Ordinance Authorizing  
Issuance and Sale of Sewer Disposal System Revenue Bonds in an  
Amount Not to Exceed $21,000,000 (Ordinance 2022-05)  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments:  
7G1 AC Memo - Approval of Series Ordinance - Sewer Disposal  
System Loan 5741-01  
7G3 4856-7566-9284 v2 Series Ordinance (2022-SRF-3 GLWA Sewer)  
5741-01  
7G4 4873-3622-0452 v2 Resolution Approving 2022-3 SRF Series  
Ordinance (Sewer) 5741-01  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Recommended for Approval to the Board of Directors  
Agenda of July 29, 2022  
The motion carried by a unanimous vote.  
2022-315  
I.  
Economic Outlook Task Force  
Nicolette Bateson  
Sponsors:  
Indexes:  
Finance  
Attachments: 7I1 Audit Committee Memo - Economic Outlook Task Force  
7I2 Presentation_GLWA Audit Committee_EOTF  
7I3 02-24-2022 SnP Inflation Could Weigh On US Not-For-Profit  
Utilities’ Credit Ratings (1)  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-323  
J.  
Water Residential Assistance Program Funding for DWSD Lifeline  
Pilot Plan  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 7J1 DWSD Lifeline Plan WRAP Impact  
7J3 DWSD's Lifeline Plan  
Motion By: Gary Brown  
Support By: Jaye Quadrozzi  
Action: Recommended for Approval to the Board of Directors  
Agenda of July 27, 2022  
The motion carried by a unanimous vote.  
2022-328  
K.  
Consent Letter Related to 2022 Bond Transaction  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 7K1 Consent Letter Related to 2022 Bond Trans Audit Comm Memo  
7K2 GLWA SAS 133 Engagement Letter 7-19-22 draft  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
8. Reports  
2022-327  
A.  
CFO Report  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8A1 CFO Report June 2022  
8A2 The Distinguished Budget Presentation Award FY 2022 and FY  
2023  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-316  
B.  
Monthly Financial Report for March 2022  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8B March 2022 Financial Report_Tagetik  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-317  
C.  
Monthly Financial Report for April 2022  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8C April 2022 Financial Report_Tagetik  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-238  
D.  
E.  
F.  
G.  
Business Inclusion and Diversity Program  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8D Business Inclusion and Diversity Program Year-in-Review  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-318  
Quarterly Gifts, Grants & Other Resources Report  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8E Gifts, Grants and Other Resources Report  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-319  
Quarterly CWIP Report  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 8F Quarterly CWIP Report FY 2022 Q3  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-320  
Quarterly Debt Report  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
9. Communications  
2022-321  
A.  
The Procurement Pipeline for June 2022  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 9A The Procurement Pipeline for June 2022  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and Filed  
The motion carried by a unanimous vote.  
2022-322  
B.  
The Procurement Pipeline for July 2022  
Nicolette Bateson  
Finance  
Sponsors:  
Indexes:  
Attachments: 9B July 2022 Procurement Pipeline  
Motion By: Jaye Quadrozzi  
Support By: Gary Brown  
Action: Received and File  
The motion carried by a unanimous vote.  
10. Look Ahead  
Next Audit Committee Meeting: August 26, 2022 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 10:12 a.m.