Audit Committee Minutes
March 21, 2012

Members Present:  Ari Brown-Chairman, Theodore (Ted) Sasso, John Ryan, 
                               Fred Parola, Lorraine Rhoads

Members Excused:  Danny Grodotzke

Ari Brown convened the meeting at 9:55 a.m.

The only item on the agenda was the adoption of the “2011 Audited Financial Statements” presented to the IDA by Sheehan and Company.

The Board was advised that the IDA is still waiting for a report from the actuary in order to finalize the report.  It was suggested that the Board accept the report subject to the inclusion of the required information from the actuary.  A motion was made by Fred Parola and seconded by John Ryan.  All were in favor and the motion carried.

A motion was made by Ari Brown to close the meeting. Fred Parola seconded it.  All were in favor and the meeting was closed at 10:00 a.m. 

					
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                                                                                      Lorraine Rhoads
Agency Administrator

3/21/12