March 11, 2005, 8:15 AM

1. Call to Order

The meeting was called to order at 8:15 AM in the District Conference Room.

Committee members present: Alvin Edwards

Judi Lehman

Kristi Markey

Staff members present: David Berger

Rick Dickhaut

Sara Reyes

2. Oral Communications Anyone wishing to address the committee on a matter not listed on the agenda may do so during oral communications. Public comment on any other matter listed on the agenda is appropriate at the time the item is being discussed by the committee.

No public comment was received.

3. Items on Board Agenda for March 21, 2005

Review and Accept Independent Auditor’s Report for Fiscal Year 2003-2004

Rick Dickhaut, Chief Financial Officer/Administrative Services Manager introduced Cecil Robbins and Rae Gularte from the Hayashi & Wayland Accounting Firm. Mr. Robbins and Ms. Gularte reviewed the draft financial statements, draft auditors’ report and draft management letters with the committee. After discussion and questions among the group, the committee voted 3 to 0 to recommend approval of the Auditor’s Report. The committee also voted 3 to 0 to endorse the auditor’s recommendation that the District’s threshold for capitalization of items be increased from $500 to $1,000 for equipment and from $500 to $5,000 for land, facilities and improvements. A representative from Hayashi and Wayland will be present at the March 21, 2005 Board meeting to answer any questions from the Board.

Consider Approval of Second Quarter Investment Report

Rick Dickhaut reviewed this item with the committee. After brief discussion, the committee voted 3 to 0 to recommend approval.

4. Other Business

Review Draft March 21, 2005 Board Meeting Agenda

The committee reviewed the agenda and made no changes.

5. Director Comments/Future Items

Confirm April 2005 Meeting and Schedule Meetings for May-December 2005

The April Administrative Committee meeting is scheduled for Monday, April 4, 2005 at 8:30 AM. The committee scheduled the following meeting dates for 2005:

Thursday, May 5, 8:30 AM

Thursday, June 9, 8:30 AM

Thursday, July 7, 8:30 AM

Thursday, August 4, 8:30 AM

Thursday, September 8, 8:30 AM

Thursday, October 6, 8:30 AM

Thursday, November 10, 8:30 AM

Thursday, December 1, 8:30 AM

6. Adjournment

The meeting was adjourned at 9:35 AM.

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