Welcome to Greater Hartford Transit District

MINUTES
AUDIT COMMITTEE
GREATER HARTFORD TRANSIT DISTRICT
Hartford Connecticut

December 11, 2006

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 3:31 p.m. in the Transit District’s Offices, One Union Place, Hartford, CT. Committee members present included Brendan T. Flynn, Mary Oliver, and Stephen Mitchell. Reed Risteen, Senior Partner, Blum, Shapiro and Company was also in attendance. Vicki L. Shotland, Executive Director, and Kimberly A. Dunham, Director of Fiscal and Administrative Services represented District Staff.

Mr. Risteen presented the Comprehensive Annual Financial Report for the Fiscal Year ended June 30, 2006. The State and Federal Single Audit Reports for the same period were reviewed, as well as the certification process for the Government Finance Officers Association Certificate of Achievement in Financial Reporting award. Mr. Risteen also addressed expected GASB pronouncements regarding reporting requirements in addition to anticipated Auditing Standards changes. Brief discussion ensued regarding the aforementioned items.

Upon motion by Mary Oliver and seconding by Stephen Mitchell, the Committee continued in Executive Session at 4:17 p.m. At 4:35 p.m., Mr. Mitchell motioned, and Ms. Oliver seconded, that the meeting reconvene in Regular Session. At that time it was proposed that the Audit Report as submitted by Blum, Shapiro and Company be presented to the full Board at its January 2007 meeting. There being no further business brought before the Committee, Ms. Oliver moved that the meeting be adjourned. Upon second by Mr. Mitchell, Mr. Flynn adjourned the meeting at 4:36 p.m.

Respectfully submitted,

_______________________
Kimberly A. Dunham

Acting Committee Secretary