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Minutes
Audit Committee
Greater Hartford Transit District
Hartford, Connecticut

May 18, 2015

Brendan T. Flynn, Committee Chair
Presiding...........................

Mr. Flynn called the Meeting of the Audit Committee of the Greater Hartford Transit District (the "District") to order at 5:35 p.m. in the Transit District's Offices, One Union Place, Hartford, Connecticut. Committee members present included Brendan T. Flynn and David A. Giordano. Reed Risteen of Blum, Shapiro and Company was also in attendance. Vicki L. Shotland, Executive Director, and Nhan Vo-Le, Director of Fiscal and Administrative Services, represented District management. Ms. Vo-Le served as Acting Committee Secretary.

Mr. Risteen provided an overview of the audit process for the fiscal year 2015 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 1st and August 17th; respectively. A review of several GASB Statements was noted; however, none were determined to have a significant impact on the District.

Next the committee members met briefly with Mr. Risteen in the absence of management representation.

There being no further business brought before the Committee, Mr. Flynn adjourned the meeting at 6:14 p.m.
                                                                                         

Respectfully submitted,

                                                                                                           
                                                                                          Nhan Vo-Le
                                                                                           Acting Committee Secretary