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<br />NOES: <br /> <br />ABSTAIN: <br /> <br />ABSENT: <br /> <br />12. <br /> <br />BUSINESS CALENDAR <br /> <br />None (0) <br />None (0) <br /> <br />Anton, Bracho, Brewster, Burrier-Lund, <br />Fogarty, Haro, Martinez, Medrano, <br />Mijares (9) <br /> <br />RESEARCH AND DEVELOPMENT INFRASTRUCTURE, PHASE II <br />FINAL REPORT <br /> <br />Motion: Approve the final report and its components for Phase II of the <br />Research and Development Infrastructure. <br /> <br />MOTION: Ream <br /> <br />VOTE: <br /> <br />AYES: <br /> <br />NOES: <br /> <br />ABSTAIN: <br /> <br />ABSENT: <br /> <br />SECOND: Price <br /> <br />Bacigalupo, Bloom-Ramos, Cong, Doti, <br />Haynes, Hernandez, Metzler, Price, Ream, <br />Reyna (10) <br /> <br />None (0) <br /> <br />None (0) <br /> <br />Anton, Bracho, Brewster, Burrier-Lund, <br />Fogarty, Haro, Martinez, Medrano, <br />Mijares (9) <br /> <br />PRESENTATION <br /> <br />Draft Annual Audit of the Santa Ana Empowerment <br /> <br />Michael A. Harrison, CPA, Partner, Conrad and Associates Corporation, presented an <br />overview of the audit of the Corporation for Fiscal Year 2003-2004. Mr. Harrison <br />reported that the independent auditors reviewed the statement of financial position of <br />the Santa Ana Empowerment Corporation (SAEC) and the related statement of <br />activities, functional expenses and cash flows for the year ended on June 30, 2004. To <br />determine if the SAEC's financial statements are free of material misstatement, the <br />auditors perform tests of its compliance with certain provisions of laws, regulations, <br />contracts and grants. The results of the tests disclosed no instances of noncompliance <br />that are required to be reported under Government Auditing Standards. Mr. Harrison <br />further noted that the final audit would be placed on the next board agenda for approval <br />by the Board. <br /> <br />SAEC MINUTES <br /> <br />6 <br /> <br />SEPTEMBER 222004 <br />