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BOARD OF DIRECTORS

Minutes Audit Committee
Greater Hartford Transit District
Hartford, Connecticut
October 29, 2014

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, CT. Committee members present included Brendan T. Flynn, A. David Giordano and Mary A. Oliver. Reed Risteen and Leslie Zoll of Blum, Shapiro and Company were in attendance. Vicki L. Shotland, Executive Director, and Kimberlee A. Morton, Director of Fiscal and Administrative Services, represented District Staff.

Mr. Risteen presented the Draft Comprehensive Annual Financial Report, State Single Audit Report, and Federal Single Audit Report for the Fiscal Year ended June 30, 2013. Blum Shapiro has issued an unmodified (clean) opinion on the agency's financial statements. A significant weakness was noted in the Federal Single audit in the area of procurement internal control procedures regarding suspended and debarred contractors. It was further noted that the District has internally addressed the concern with appropriate corrective action.

Final budget revisions will be presented for adoption at the November 6, 2014 Board of Directors meeting and Mr. Risteen will then present the audit reports for acceptance by the full board immediately following.

The committee members then met with Mr. Risteen and Ms. Zoll without management's presence. Upon motion by Mr. Giordano and seconding by Ms. Oliver, the Committee unanimously voted to submit the draft audit reports to the full board. There being no further business brought before the Committee, Mr. Giordano moved that the meeting be adjourned. Upon second by Ms. Oliver the meeting was adjourned at 6:19 p.m.

Respectfully submitted,
Kimberlee A. Morton
Acting Committee Secretary

 

Posted: 07/1414