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Committee Member Moser moved to approve the engagement letter from Null - Lairson for the 2011 <br />audit of the La Porte Development Corporation. Committee Member Leonard seconded. MOTION <br />PASSED. <br />Ayes: Chairman Engelken, Committee Members Moser and Leonard <br />Nays: None <br />Absent: None <br />4. Review and discuss proposed resolution for GASB 54 — M. Dolby <br />Finance Director Michael Dolby presented a proposed resolution for GASB 54 for discussion. <br />The committee agreed to amend the resolution, in part, to read: The City Council delegates <br />authority to assign fund balance for a specific purpose following approval by the Fiscal <br />Affairs Committee to the City Manager of the City of La Porte before approval by full City <br />Council. <br />5. Set date for next meeting — M. Dolby <br />The Committee set September 12, 2011, at 5:00 p.m. as the date and time for the next meeting. <br />6. Administrative Reports — R. Bottoms <br />There was no administrative report. <br />7. Committee Comments — Matters appearing on agenda; Recognition of community members, city <br />employees, and upcoming events; Inquiry of staff regarding specific factual information or existing <br />policy. <br />There were no Committee comments. <br />8. Adjourn — There being no further business, Committee Member Moser moved to adjourn the <br />meeting. Committee Member Leonard seconded. Motion Passed. <br />The meeting was adjourned at 5:17 p.m. <br />Respectfully submitted, <br />Patrice Fogarty, City Secretary <br />Passed and approved on the 12 day of September, 2011. <br />Chairman Chuck Engelken <br />Page 2 of 2 <br />August 22, 2011, Fiscal Affairs Committee Minutes <br />