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Minutes 3-21-95 Page 2 B. NEW ITEMS A. Annual Audit Report 1.) Acceptance Of The Report On Financial Statements For The Two Years Ending June 30, 1995 Jorgensen stated that the auditor was not present, but if the Board desired, the auditor's attendance could be secured for a subsequent Board meeting. He said that the financial statements were free of material misstatements, and there was no management letter. It was moved by Jacobsen, seconded by Lange, and carried unanimously to accept the report on financial statements for the two years ending June 30, 1995, as prepared by the accounting firm of Moss, Levy, and Hartzheim; and, further, that there was no need for a subsequent appearance by the auditor. Jorgensen noted that general fixed assets is now included on the balance sheet, thus fully complying with the auditor's previous recommendations. Ward congratulated Jorgensen and staff for their diligence and professionalism. B. Approval Of Agreement Between The City Of Thousand Oaks And The District For The Transfer Of Real Property In Conjunction With The Hill Canyon Regional Recreation Area Project Ward presented a brief overview of the provisions of the agreement, identified the two recommendations, and referenced the exhibit, which identified the Hill Canyon property and surrounding land. In response to Lange's inquiry, Ward explained that the seven year time limit corresponds to the agreement with the County of Ventura and its property, and he said that he expected the transfer of the property to take place within a year. It was moved by Holt, seconded by Berger, and carried unanimously to: 1.) Affirm that the District's participation in the Hill Canyon Regional Recreation Area Project mitigates and satisfies the conditions pertaining to the school site depicted in Planning Unit G of Specific Plan Number 7;