HomeMy WebLinkAboutMinutes - 2008.05.01 - 36263MIKE ROGERS Chairperson EILEEN KOWALL Vice Chairperson HELAINE ZACK Minority Vice Chairperson May 1, 2008 Vice Chairperson Kowall called the meeting of the Finance Committee to order at 9:02 a.m., in the Board of Commissioners' Committee Room A, Commissioners' Wing, County Service Center, Pontiac, Michigan. COMMITTEE MEMBERS PRESENT Eileen Kowall, Helaine Zack, Sue Ann Douglas , Hugh Crawford, Tom Middleton, Christine Long, Jeff Potter, David Coulter, David Woodward, Tim Greimel COMMITTEE MEMBERS ABSENT Mike Rogers OTHERS PRESENT AUDITING Pam Weipert, Manager Barb Ducharme, Supervisor Terri Meiers, Supervisor CORPORATION COUNSEL Judy Cunningham, Corporation Counsel EXECUTIVE Gerry Poisson, Deputy Bob Daddow, Deputy FISCAL SERVICES Tim Soave, Manager Penny Cremer, Chief LaVerne Smith, Supervisor PLANTE & MORAN Les Pulver Bill Brickley SHERIFF Michael McCabe, Undersheriff Dale Cunningham, Business Manager BOARD OF COMMISSIONERS Larry Doyle, Administrative Director Helen Hanger, Sr. Committee Coordinator APPROVAL OF THE PREVIOUS MINUTES Crawford moved approval of the minutes of April 24, 2008, as printed. Supported by Middleton. Motion carried on a voice vote. PUBLIC COMMENT None. OAKLAND COUNTY BOARD OF COMMISSIONERS 1200 N. TELEGRAPH ROAD, PONTIAC, MI 48341-0475 Telephone (248) 858 -0100 FAX (248) 858-1572 FINANCE COMMITTEE Sue Ann Douglas Hugh D. Crawford Tom Middleton Christine Long Jeff Potter David Coulter David Woodward Tim Greimel FINANCE COMMITTEE Page 2 May 1, 2008 5. FY 2008 C ONTINGENCY REPORT The FY 2008 Contingency Fund balance of $156,712 will remain unchanged. Crawford moved to receive and file the Contin gency Report dated April 24, 2008. Supported by Coulter. Motion carried on a voice vote. REGULAR AGENDA Middleton moved the agenda with an amendment to remove Item 7 – Board of Commissioners – Independence Township Corridor Improvement Authority and I tem 8 – Board of Commissioners – Tax Increment Financing District Review Policy Ad Hoc Review Committee. Supported by Crawford. Motion carried on a voice vote. 6. ANNUAL AUDIT REPORT BY THE COUNTY CONTRACTED INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM AND PRESENTATION OF THE FY 2007 COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR) Mr. Pulver presented the Fiscal Year 2007 Comprehensive Annual Fina ncial Report (CAFR) to the Committee, with accompanying PowerPoint documents and letter dated March 14, 2008 r eporting deliverables. Mr. Pulver explained that the Auditors function is to assure that the manager’s responsibilities have been met and that the County’s financial statements are complete and can be compared to other communities. Going forward, the aud itors have requested receipt of the County’s schedule of expenditures of federal awards at least 45 days before the due date of the CAFR. Mr. Buckley presented information on the FY 2007 CAFR that included distribution of General Fund revenue and expenditures and fund balance; changes in property value; the revenue sharing reserve fund; retirement health care actuarials, assets, liabilities and trust data; delinquent tax revolving fund net assets and those fund deficits , due to timing issues on receipt o f revenue, reported to the State of Michigan. Mr. Soave explained that the percentage of property taxes reported supporting the General Fund will vary depending on budgeting and reporting requirements . CAFRs and County budgets for the last several years are available for viewing on the County’s Fiscal Services publications web page. As required by governmental accounting standards, the CAFR includes statements of assets and activities to show the County as a single financial entity similar to private business. The County’s increased total assets are due mostly to the issuance of $557 million in trust certificates for retiree medical benefits. The County remains below its authorized debt limit of 10% of its State Equalized Value. Douglas moved approval of the attached suggested Resolution. Supported by Zack. Motion carried unanimously on a roll call vote with Rogers, Potter, Coulter and Woodward absent. COMMUNICATIONS A. Notice of Hearing for Industrial Facilities Exemption Certificate for Raval USA Inc. Facility, Located at 1797 Atlantic Blvd., Auburn Hills MI 48326 B. Department of Health and Human Services – Health Division 2008 SAMHSA Culturally Sensitive FINANCE COMMITTEE Page 3 May 1, 2008 Substance Abuse Treatment Project Grant Application Douglas moved to receive and file the communications. Supported by Middleton. Motion carried on a voice vote. OTHER BUSINESS / ADJOURNMENT There being no other business to come before the committe e, the meeting was adjourned at 9:50 a.m. ________________________ _______________________________ Helen A. Hanger Lawrence M. Doyle Senior Committee Coordinator Administrative Director NOTE: The foregoing minutes are subject to Committee approval.