Audit Committee Meeting

RAP Audit Committee AGENDA
February 3, 2022 at 1:00 PM
Join Zoom Meeting
https://us02web.zoom.us/j/87279678530
Call-In: 1 669 900 6833 Meeting ID: 872 7967 8530
Printable Agenda

This meeting is being conducted utilizing teleconferencing and electronic means only.  There will not be a physical location.
Members of the public may be able to participate by telephone, using the following dial-in information: Phone number: 1 669 900 6833 Meeting ID: 832 4070 9707 Reasonable accommodation:  Any individual with a disability who requires reasonable accommodation to attend or participate in this meeting may request assistance by emailing MReyes@RAPFoundation.org.  Notification at least 48 hours prior to the meeting start time will enable us to make reasonable arrangements to ensure accessibility to the meeting.

Committee members:  Chair V. Tanner, J. Pye, M. Moran, B. Gonzalez, M. Blue.

 I. CALL TO ORDER- Roll Call

II. Approval of the AGENDA –In order to meet Brown Act requirements, items may be added to the agenda only upon decision by a majority of the Board of Directors to add the item because of a need for immediate action.

Motion:             Second:         Approved:               Opposed:          Abstention Name(s):

III. PUBLIC COMMENT / PRESENTATIONS – Any individual wishing to comment on the agenda or an item not on the agenda may do so my emailing Mreyes@RAPFoundation.org or calling in at the number above.  All emailed comments must be received prior to the 10:00 AM start time. Persons wishing to speak are requested to be recognized at the appropriate time. General comments regarding non-agenda items will be called for at this time. Specific comments regarding agenda items will be called for during discussion of each item. Please be prepared to limit your Public Comment remarks to three (3) minutes.

 CONSENT ITEMS:
A. MEETINGS MINUTES of Nov. 15, 2021 Joint Audit – Executive Committee Meeting. (Attach #1)

Staff Recommendation: Approve the Oct. 27, 2020 Minutes.

Motion:             Second:         Approved:               Opposed:          Abstention Name(s):

V. NEW BUSINESS ITEMS – Action Required
A. Nominations for Chair and Vice- Chair

Motion:             Second:         Approved:               Opposed:          Abstention Name(s):

B. Selection of Audit Firm for the FY 2021-22 Audit- Lund and Guttry performed our audit for FY 2020-2021.  The cost was $ 13,000 for Financials and Management Letter and $7,500 for the Issuance of Uniform Guidance Audit and Compliance Report.   The senior Auditor Gary Duck is retiring and Shannon Maidment and Andrea Oliveri have established the firm Coachella Valley Accounting & Auditing (CVA &A).  There is an amicable agreement between Shannon and  with L & G to transition the audit and review client practice to CVA & A effective Feb. 1.
RAP was very satisfied with the quality of work on the FY 2021-2022 Audit. CVA & A’s proposal is attached.(attach. #2) Marynov, Madsen, Gordon and Campbell is in the process of completing the FY 2021- 2022 Form 990 and the cost is $2000.

 Staff Recommendation:  To recommend to the Board to select Coachella Valley Accounting and Auditing to conduct our FY 2021 –2022 audit.

• Accounting and Auditing for the cost of $13,650 for the audit of financial statements and issuance of letter on any findings or recommendations of internal control
• Preparation of income tax returns (Form 990) for $2500

Motion:             Second:         Approved:               Opposed:          Abstention Name(s):

VI. BOARD MEMBER / STAFF COMMENT
Form 990 will be started after April 15 by Maryanov, Madsen, Gordon & Campbell.  An extension of May 15 has been filed.  We will meet in late April to review and make a recommendation to the Board for the April 27^th Board meeting.

VII. ADJOURNMENT:   Next meeting will take place in late April.

Agenda Posting: Agendas will be posted on the Foundation website – www.rapfoundation.org – a minimum of 72 hours prior to the meeting date. If a public record document that relates to a matter on the open session of the Agenda is distributed less than 72 hours prior to the meeting date, the public record document shall be available for inspection, at the same time it is distributed. Upon request, this agenda will be made available in appropriate alternative formats to persons with disabilities, as required by Section 202 of the Americans with Disabilities Act of 1990.