Board of Directors Agenda

1. Call to Order of the Meeting of the Audit Committee

ADMIN: The Committee Chair will call the meeting to order if a quorum is present. Announcements may be made at this time.

2. Public Comments

Opportunity for members of the public to address the Committee.

3. Approval of Minutes

The Committee Chair will request approval of the minutes of the committee meeting on March 26, 2015.

Download the Committee Meeting March 26, 2015 Minutes (PDF, 107 KB)

4. Request for Proposals for Audit Services

The committee will review the Request for Proposals (RFP) for audit services of the Conservancy’s financial statements for fiscal years 2015-2019 and recommend any changes if needed.

Staff requests committee acceptance of the RFP for auditing services and recommendation to the Board of Directors for approval.

Download the RFP for Audit Services (PDF, 318 KB)

5. Groundwater exchange program revenue

Conservancy management has met with Gilbert Associates, the firm that prepares the Conservancy’s IRS Form 990, regarding whether revenue generated from the groundwater exchange program constitutes unrelated business income tax (UBIT).

It is Gilberts’ opinion that the Conservancy’s participation in the groundwater exchange program does not meet the standard for unrelated trade or business and would not be subject to UBIT on revenue from the groundwater exchange program.

6.Public comment

Opportunity for members of the public to address the Committee.

7. Adjournment

Official adjournment of the meeting.