ITEM:		CONSENT CALENDAR
10.	REVIEW AND ACCEPT INDEPENDENT AUDIT REPORT FOR FISCAL YEAR 2012-2013
Meeting Date:			February 13, 2014	Budgeted:	N/A
From:			David J. Stoldt,	Program/	N/A
			General Manager	Line Item No.:
Prepared By:			Suresh Prasad	Cost Estimate:	N/A
General Counsel Review: N/A
Committee Recommendation: The Administrative Committee reviewed this item on February 12, 2014; action taken by the Committee will be reported at the February 13, 2014 Board meeting.
CEQA Compliance: N/A

SUMMARY: Drafts of the Financial Statements and Independent Auditors’ Report (Report) and Board Communication Letter (required communication letter from the Auditors to the Board) for the fiscal year ending June 30, 2013 have been received from the District’s auditors, Hayashi & Wayland. The audit documents will also be posted on the District’s website after it has been accepted by the Board. Hayashi & Wayland has been the District auditors since 1989.

The auditors have issued a clean opinion on the District’s financial statements. The audit did not identify any deficiencies in the internal control that the auditors consider to be material weaknesses. The Administrative Committee met with representatives from Hayashi and Wayland and reviewed the Auditors’ Report and the Board Communication Letter at its February 12, 2014 meeting.

A Management Letter may be issued in conjunction with the Report to offer constructive suggestions for improvements on matters that came to the auditors’ attention in connection with the audit, however, such letter was not deemed necessary by Hayashi & Wayland in connection with the audit for this fiscal year.

RECOMMENDATION: District staff recommends that the Board review and accept the Financial Statements and Independent Auditors’ Report for the year ending June 30, 2013.

EXHIBITS

10-A Financial Statement for FY 2012-2013 and Independent Auditors’ Report

10-B Board Communication Letter

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