HomeMy WebLinkAbout2005-10-11 Min - Board SPECIAL MEETING
October 11, 2005
In accordance with District Code Section 2.08.010, the TDP_UD minutes are action
only minutes. All Board meetings are recorded on audio tapes which are preserved
perpetually and made available for listening to any interested party upon their
request.
The special meeting of the Board of Directors of the Truckee Donner Public Utility District
was called to order at 2:03 PM in the TDPUD Board room by President Hemig.
ROLL CALL: Directors Joe Aguera, Ron Hemig, Patricia Sutton, Tim Taylor and Bill
Thomason were present.
EMPLOYEES PRESENT: Mary Chapman, Steve Hollabaugh, Kim Szczurek, Nancy
Waters, Peter Holzmeister and Barbara Cahill
CONSULTANTS PRESENT: Tom Unke, Ron Ley, Marta Williams, Felicia O'Carroll, Kristin
Burgess and Sheri Russell
OTHERS PRESENT: None
PUBLIC INPUT
There was no public input.
INTERVIEW OF THREE FINALISTS PROPOSING TO PERFORM SERVICES RELATED
TO THE AUDIT OF DISTRICT FINANCIAL STATEMENTS.
Tom Unke gave his presentation of the firm of Virchow Krause:
• 75 years old, 15th largest firm in the U.S. and serve 272 utilities in 35 states
• Specialize in public utilities: audit/attest, consulting, job costing and plant account-
ing
• Public power background: APPA instructors, networked with national leaders and
best practices knowledge
• Expertise: telecommunications, engineering, GIS and public power resources
• Promises to the District: honest, above average audit expectations, low stress
transition, willing to help at any time, business/management advisor
Ron Ley and Marta Williams of Damore, Hamric & Schneider, Inc. talked about their firm:
• 25 years old, local Sacramento firm and full-service accounting
Provide full time audits and audit planning
• Experience in special district audits
• Team approach with District board and staff
• Method for the audit plan and periodic support
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Felicia O'Carroll, Kristin Burgess and Sheri Russell of Kafoury, Armstrong & Co. spoke
about their firm:
• 64 years old; Nevada based public accounting firm with six offices
Performs audits for a number of local agencies (including A-133 audits)
Methodology: audit policies & procedures, audit work plan, financial audit and the
compliance audit.
Familiarly with bond issues
Encourages a client to communicate all year; has a team approach and continuity;
involves partners in the planning and fieldwork
Board discussion followed with emphasis on auditor knowledge of both electric and water
utilities, relationship with the Directors (cue from the board — not staff), management letter,
audit record retention, length of contract, auditor rotation, fraud evaluation, analysis of
broadband expenses and special A-133 audit.
ACTION ITEM
CONSIDERATION OF APPOINTING A FIRM TO PERFORM AUDIT SERVICES FOR
THE DISTRICT.
Director Thomason moved and Director Aguera seconded, a motion to authorize staff to
employ the services of Virchow Krause, Madison, WI. to perform the District's 2005 audit
for $50,000 (including the A-133 audit); and with the option to employ Virchow Krause to
perform the 2006 ($52,000) and 2007 ($50,000) District audits.
ROLL CALL: All Directors, aye. SO MOVED.
ADJOURNMENT
There being no further business before the Board, the meeting was adjourned at 4:30 PM.
TRUCKEE DON R PUBLIC UTILITY DISTRICT
11
J. To emig, President
Prepared by ',�) af) C.i I c C G'--
Barbara Cahill,jbeputy District Clerk
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