Town of Hempstead IDA
Audit Committee Minutes
December 17, 2014

Members Present:  Theodore Sasso Jr., Dan Grodotzke, John Ryan,                          
                               Fred Parola & Lorraine Rhoads

Members Excused:  Ari Brown

Mr. Dan Grodotzke called the meeting to order at 10:50 am.

The agenda included the 2015 contract approvals for the IDA accountants, Sheehan & Company and Milliman Inc. for our required GASB 45 Actuarial Report.

 The committee members had a chance to review the Sheehan Contract prior to this meeting.  A motion was made by Mr. John Ryan to accept the 2015 Sheehan Contract  as presented and was seconded by Mr. Frederick Parola. All approved and the motion carried.

The committee members briefly discussed the State’s requirement for a 2015 GASB 45 Actuarial Report.  This is required every three years for the purpose of estimating post retirement health benefits.  Mr. Dan Grodotzke made a motion to accept the Milliman Contract as written and Mr. John Ryan seconded it.  All approved and the motion carried.

A motion was made by Mr. Dan Grodotzke to close the meeting and Mr. John Ryan seconded it.  All approved and the meeting was closed at 10:55 a.m.

					
						_________________________________________
                                                                                      Lorraine Rhoads, Agency Administrator &
                                                                        Committee Member
12/17/14