• (Draft)AUDIT COMMITTEE MINUTES October 28, 2019
    Administration Building 5:00 p.m.
    The meeting convened at approximately 5:00 p.m. in Board Room of the Valley Central School District for the purpose of interviewing firms for both Internal Auditor and External Auditor. John Xanthis, Brad Conklin, and seven members of the Audit Committee, Kelly Ann Kelly, John Revella, Thomas Jones, Peter Sullivan, Sarah Messing, Art Fitzgerald and Sheila Schwartz were in attendance. The Committee interviewed Victor Churchill from Sickler, Torchia, Allen & Churchill, Alan Walther from Bondio Group and Mark Levy from Nugent & Haeussler for External Auditor; and Margaret Quimby from Cooper Arias and Mark Levy from Nugent & Haeussler for Internal Auditor. After discussion, it was the consensus of the Committee to recommend to the Board of Education that for the 2019/2020 fiscal year, Bonadio Group be appointed as External Auditors and Nugent and Haussler be appointed as Internal Auditors. Both firms are to be appointed in accordance with the cost as detailed in their proposals and for a period of 1 year only with the Board’s option to renew annually for 4 additional years as stated in the RFP. Upon consensus of the Committee, the meeting was adjourned at approximately 8:00 p.m.


    (Draft)AUDIT COMMITTEE MINUTES October 7, 2019
    Administration Building 5:30 p.m.
    The meeting convened at approximately 6:34 p.m. in the Executive Session Room of the Valley Central School District. John Xanthis, Brad Conklin, and six members of the Audit Committee, Kelly Ann Kelly, John Revella, Thomas Jones, Peter Sullivan, Sarah Messing and Art Fitzgerald, were in attendance. Also in attendance was Mark Levy from Nugent & Haeussler P.C. (External Auditors). Committee member Sheila Schwartz was absent. The Committee reviewed the minutes from the prior meeting (May 13, 2019). Thomas Jones moved that the minutes be approved. John Revella seconded the motion. The minutes were approved unanimously 6-0-0. Mark Levy walked the Committee through the External Audit, focusing the Committee on relevant pages and information from the audit, and reviewed the comments in the management letter. KellyAnn Kelly moved, Peter Sullivan seconded that the External Audit be accepted and recommended for Board approval. The motion was approved unanimously 6-0-0. The Committee then reviewed the RFPs and submissions for auditing services. After some discussion, it was the consensus of the Committee to meet on October 28th at 5:15 p.m. to interview representatives of each of the firms. John Revella moved to adjourn and Art Fitzgerald seconded. The motion was approved 6-0-0 and the meeting was adjourned at approximately 6:48 p.m.


     AUDIT COMMITTEE MINUTES May 13, 2019
    Administration Building 5:30 p.m.
    The meeting convened at approximately 5:30 p.m. in the Board Room of the Valley Central School District, once a quorum of members was present. Members Present: Members Absent: Mel Wesenberg John Revella Brad Conklin Joseph Bond Kelly Ann Kelly Thomas Jones Peter Sullivan District Administration: John Xanthis Michael Bellarosa Carleen Millsaps In response to a recent request by the Audit Committee, Mrs. Millsaps provided a brief review and demonstration of WinCap, the District’s financial management system. Mrs. Millsaps answered questions regarding procurement and the District’s purchasing policy. The Committee the reviewed and unanimously approved the minutes of the February 21, 2019 Audit Committee meeting. The Claims a Deputy Claims Auditors reports were reviewed and accepted unanimously. The Committee met with Mark Levy of Nugent & Haeussler regarding the upcoming External Audit for the 2018-2019 school year, which will begin the week of July 22, 2019. The Committee reviewed a draft of the meeting schedule for 2019-2020. This schedule will be finalized following the District’s Reorganizational meeting in July. The Committee discussed conducting a Request for Professional Services for Auditing Services, which will be scheduled in the coming months. A motion to adjourn was unanimously accepted at 6:02 p.m.


     AUDIT COMMITTEE MINUTES February 21, 2019
    Administration Building 5:30 p.m.
    The meeting convened at approximately 5:42 p.m. in the Board Room of the Valley Central School District, once a quorum of members was present. Members Present: Members Absent: Mel Wesenberg John Revella Brad Conklin Kelly Ann Kelly Joe Bond Thomas Jones Peter Sullivan District Administration: John Xanthis (excused at 6:10 p.m. to attend another school event) Carleen Millsaps The Committee reviewed and unanimously approved the minutes of the December 19, 2018 Audit Committee meeting. Margaret Quimby, Internal Auditor form the firm of Cooper, Arias, LLP, distributed and explained the Internal Audit Report and recommendations, which covered Risk Assessment, Leave Accruals, Transportation and Payroll. The risk assessment focused on areas such as the co-curricular funds, purchase orders after the fact, credit card payments to ShopRite, prevailing wage, and timely approval of adjusting journal entries. Ms. Quimby’s explained that co-curricular activities are intended to be a learning experience for students in management and discussed the need for student government, timely deposits, profit and loss statements and some specific matters relative to the school store. On her Leave Accrual review, Ms. Quimby found no unexplained variances. On the transportation review, Ms. Quimby stated that although close, she could not fully reconcile all areas - such as fuel purchases and mileage. Ms. Quimby stated that some information requested was not available, but recognized that transportation is currently under review by the District’s administration. Ms. Quimby explained that she participated in a meeting with the bus company and had the opportunity to ask some procedural questions – such as how they were dealing with the nationwide driver shortage. Under the area of Payroll, Ms. Quimby explained that even though there were no findings, payroll is always considered a high risk area. Transportation, on the other hand, is considered a moderate risk area. Following a motion moved by Brad Conklin and seconded by Thomas Jones, the Internal Audit Report was unanimously accepted by the Committee. Ms. Quimby left the meeting following her report. As a follow-up from the previous meeting, the Committee decided that at the next meeting on May 13th they will preview Wincap to learn more about the District’s financial software program. The Claims Auditor Report was unanimously accepted, following a motion made by Brad Conklin and seconded by Mel Wesenberg. A motion to adjourn was unanimously accepted at 6:26, following a motion moved by Thomas Jones and seconded by Brad Conklin. 


     AUDIT COMMITTEE MINUTES December 19, 2018
    Administration Building 5:30 p.m.
    The meeting convened at approximately 5:30 p.m. in the Board Room of the Valley Central School District. John Xanthis, Michael Bellarosa, Internal Auditor Margaret Quimby of Cooper, Arias, LLP, and two members of the Audit Committee were in attendance (Melvin Wesenberg, Kelly Ann Kelly). The Committee reviewed the minutes from the prior meeting (October 1, 2018). The minutes were approved unanimously 2-0-0. The Committee reviewed and accepted the attached Claims Auditor Reports. The acceptance was approved 2-0-0. The Committee asked that they be given an opportunity to see Wincap, the financial management program, “in action” to learn how it works. This will be arranged after the winter recess. The Committee interviewed three candidates for the Audit Committee. Brad Conklin, John Revella and Thomas Jones were interviewed. The Committee is recommending that they be appointed to the Audit Committee at the January 22, 2019 Board of Education meeting. Next the Committee took up the focus of the Internal Auditor for the 2018-2019 school year. Margaret Quimby (Internal Auditor) reviewed the foci in previous years. After discussion, the committee determined that the focus for this year will be on student transportation. The next meeting will be held on Thursday, February 21, 2019 at 5:30 p.m. The meeting was adjourned at approximately 6:15 p.m