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March 15, 2018 <br />Page 2 <br />5. APPROVAL OF AGENDA <br />It was moved by Lange, seconded by Huffer, and carried 5-0 to approve the agenda as <br />presented. <br />6. CONSENT CALENDAR <br />A. Approval of Minutes of February 15 and March 1, 2018 Regular Meetings <br />B. Approval of Warrants <br />Accounts Payable Check Registers Total $1,715,715.03 <br />Payroll $794,000.00 <br />It was moved by Huffer, seconded by Lange and carried 5-0 to approve the <br />Consent Calendar. <br />7. DEFERRED MATTERS <br />8. ITEMS FOR DISCUSSION <br />9. NEW ITEMS <br />A. Annual Audit Report for Fiscal Year Fiscal Year (FY) 16-17 <br />Friedl introduced Craig Hartzheim, Partner and Bin Zeng, Supervising Senior Auditor, <br />from Moss, Levy & Hartzheim LLP. Zeng presented the results of the subject audit, <br />noting that the District received an unqualified, or "clean," opinion. Zeng answered <br />Board member's questions. Lewanda commended her staff on their outstanding <br />efforts during the audit process. <br />It was moved by Huffer, seconded by Jones, and carried 5-0 to accept the audit for <br />the fiscal year (FY) ending June 30, 2017, as prepared by the accounting firm of <br />Moss, Levy and Hartzheim, CPAs. <br />B. Annual Review and Adoption of Financial Reserves Policy <br />Lewanda reviewed the specifics of the recommended changes to the current Reserve <br />Policy, including addition of a Pension Rate Stabilization Reserve and Reserve Fund <br />Balances. <br />It was moved by Gibson, seconded by Lange, and carried 5-0 to re -adopt the <br />District's amended Financial Reserves Policy, including proposed adjustments to <br />Reserve Fund Balances and establishment of a Pension Stabilization Reserve to <br />be funded annually by salary and benefit savings, if any. <br />