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<br />LA PORTE AREA WATER AUTHORITY <br />MINUTES <br />FEBRUARY 4, 2009 <br /> <br />1. The meeting was called to order at 6:00 PM by President Steve Valerius. <br /> <br />Members Present: President Steve Valerius. <br /> <br />Members Absent: Member Dennis Steger Member Robert Roy <br /> <br />Others Present: Member-Elect David Janda and Kenneth Schlather, General Manager Ron <br />Bottoms, Director of Public Works Steve Gillett, Director of Finance Michael Dolby, <br />Controller Phyllis Rinehart and Paula Lowe of Pattillo, Brown & Hill. <br /> <br />2. The Oath of Office was administered to David Janda and Kenneth Schlather by President <br />Steve Valerius. <br /> <br />3. With the vacancy of Vice-President and Secretary, President Steve Valerius nominated David <br />Janda as Vice President. Seconded by Ken Schlather. Motion was unanimous. Motion by <br />President Steve Valerius to nominate Ken Schlather as Secretary. Seconded by Vice <br />President David Janda. Motion was unanimous. <br /> <br />4. The minutes from the meeting held June 22, 2008 were reviewed. Motion by Steve Valerius, <br />second by David Janda to approve the minutes as presented. Motion was unanimous. <br /> <br />5. Auditor Paula Lowe distributed copies of the Audit Report. She reviewed the audit process, <br />and stated that Pattillo, Brown & Hill was issuing an unqualified opinion of the Authority's <br />annual financial reports, which is the highest opinion that can be given. She also reviewed <br />the three (3) main sections of the Report: (1) Management's Discussion and Analysis; Basic <br />Financial Statements and (3) Supplemental Information. <br /> <br />Steve Valerius had questions regarding the safety of the Authority's investments. Auditor <br />Paula Lowe stated that the Authority's investments are within the City's guidelines and there <br />are no impairments of current assets. Michael Dolby additionally stated that Certificates of <br />Deposit with our depository bank are backed by letters of credit. <br /> <br />Motion by Ken Slather, seconded by David Janda to accept the Audit as presented. <br /> <br />6. There were no General Manager's comments. <br /> <br /> <br />7. <br /> <br />8. <br /> <br />no further business, the meeting adjourned at 6: 16 PM. <br /> <br />~-"<e.,-~, ~-nL, ~ ~'" \..--+~" f <br />l ~c ather, Secretary <br />'- 22- 2cb7 <br />/ <br />