June 2017 Audit Committee Meeting Minutes

MINUTES
Audit Committee
Greater Hartford Transit District
Hartford Connecticut
June 7, 2017

Ferguson Jansen, Committee Chairman
Presiding………….

Mr. Flynn called the Meeting of the Audit Committee of the Greater Hartford Transit District (the “District”) to order at 5:37 p.m. in the Transit District’s Offices, One Union Place, Hartford, Connecticut.  Committee members present included Brendan T. Flynn and David Giordano. Vanessa Rossitto and Leslie Zoll of Blum Shapiro and Company were also in attendance. Vicki Shotland, Executive Director, and Nhan Vo-Le, Director of Fiscal and Administrative Services, represented District management.  Ms. Vo-Le served as Acting Committee Secretary.

Ms. Zoll provided an overview of the audit process for the fiscal year 2017 including objective of the audit, responsibilities, audit scope and materiality, audit approach, engagement timing and team, fraud risk assessment, as well as current and future accounting standards.   Blum Shapiro will audit the financial statements of the District, and prepare both of the State and Federal Single Audit Reports. The interim and final audit will be commenced the week of June 12th and August 14th; respectively.  A review of several GASB Statements was noted; however, none were determined to have an impact on the District’s financial statements for the fiscal year ending June 30, 2017.

There being no further business brought before the Committee, Mr. Giordano moved adjournment and Mr. Flynn adjourned the meeting at 5:48 p.m.

Respectfully submitted,

Nhan Vo-Le
Acting Committee Secretary

Posted: June 7, 2017