1997.03.31_FAB_Minutes_Regular4
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TOWN OF HIGHLAND BEACH
. FINANCIAL ADVISORY BOARD
REGULAR MEETING
MINUTES
Monday March 31 1997 9:30 A.M.
Chairman Victor P. Hadeed called the Regular Meeting to order in
Commission Chambers at 9:30 A.M.
Deputy Town Clerk Jane Dillon called the roll. Present were
Chairman Victor P. Hadeed, Vice Chair John R. DeMarco, William Wm.
Rothenberg, Felix R. Goldenson and Byron R. McKinley.
Also present were Town Manager Mary Ann Mariano, Finance Director
Stan Novak and Commissioner Thomas J. Reid, as consultant to the
Board, as well as members of the general public.
APPROVAL OF MINUTES
Upon MOTION by MR. DEMARCO/MR. ROTHENBERG, the Minutes of the
January 29, 1997 Regular Meeting were unanimously approved.
NEW BUSINESS
Review of Comprehensive Annual Financial Report for v/e
• September 30, 1996
Mr. DeMarco expressed a concern on the delay in the Board receiving
copies of subject Audit. Ms Mariano explained that the delay was
due to several major changes within the Finance Department due to
a change in software and personnel, and the timeframe in getting
the information to the auditors.
Representatives from Haas, Diaz & Co. were present to review
subject Audit with the Board and discuss any concerns found within.
Several clarifications were suggested and will be changed within
the report.
For the record, Ms. Mariano asked if the Auditors felt the Town
should do anything differently in preparation for an audit, and to
please make the Town aware. The Auditors felt the progress was
good given the set of circumstances within the Finance Department
during the past year.
Mr. Reid asked if it would be appropriate for the Auditors to
periodically come in during the course of the year to bring the
Board up to date on any issues, but Mr. Novak felt this was not
necessary.
Chairman Hadeed asked that a future meeting be held to review the
Audit, which would enable the Members to have a chance to review
• same prior to the meeting and making a recommendation to the Town
Commission.
w
• Financial Advisory Board
March 31, 1997 Page 2 of 2
Review Current Year Financial Status
Mr. Novak stated that subject report was a draft and that he would
issue a final report after adjustments had been made to it in
accordance with the Audit. The Board asked for comparisons between
last year and this years reports.
A meeting date of April 30, 1997 was set for a second review of the
Comprehensive Annual Financial Report and Current Year Financial
Status.
With no further business to come before the Board, MOTION to
adjourn was made at 10:45 a.m. by MR. DEMARCO/MR. ROTHENBERG.
APPROVE:
Victor P. Hadeed, Chai man
•
John R. Demarco, Vice Chairman
Werner Wm. Rothenberg
Bryan R. McKi ley
elix R. Goldenson
ATTEST:
DATE: %/ L-"-sb_ 1,
•