TOWN OF HEMPSTEAD IDA
350 Front Street
Hempstead, New York 11550

Audit Committee Minutes
September 22, 2010

Members Present:  Frederick Parola, John Ryan and Lorraine Rhoads

Members Absent:  Ari Brown, Theodore (Ted) Sasso

John Ryan convened the meeting at 8:40 a.m.

Committee members had an opportunity to previously review the “Audit Committee Charter” prior to this meeting.  A motion was made by Fred Parola to accept the “Charter”.  John Ryan seconded the motion.  All approved, the motion carried.

The 2011 contract with the Agency’s Accountants, Sheehan & Company was the next item on the agenda.  The committee had an opportunity to previously review the proposed contract and has no objections to its content. Fred Parola made a motion to accept the 2011 contract for Sheehan & Company and John Ryan seconded it.  All approved and the motion carried.  The Sheehan contract will be presented to the full IDA Board for approval at the next meeting.

A motion was made by Fred Parola to close the meeting and Lorraine Rhoads seconded.  All approved and the meeting was closed at 8:45 a.m.

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9/22/10