Sonoma State University

September 14, 2020 Minutes SSE, INC. AUDIT COMMITTEE

Minutes

SONOMA STATE ENTERPRISES, INC.
AUDIT COMMITTEE
Minutes
September 14, 2020

MEMBERS PRESENT:      

Dr. John Urbanski, Mr. Robert Martinez, Ms. Emily Porter, Mr. Fred Vaske

MEMBERS ABSENT:        

None

OTHERS PRESENT:          

Ms. Amanda Visser, Mr. Neil Markley, Ms. Joyce Lopes, Ms. Jill Crenshaw, Ms. Jennifer Dale, Mr. Bobby LaCour

  1. Call to Order

The meeting was called to order at 1:13pm.

  1. Approval of the April 30, 2020 Minutes

The minutes were provided via email prior to the meeting.  Mr. Urbanski moved to approve the minutes from April 30, 2020.  Ms. Porter seconded the motion.  There were no objections.  The motion passed unanimously.   

  1. Review of the Audited Financial Statement for 2019/2020

Copies of the audit were distributed to the committee prior to the meeting in electronic format.  The team from Aldrich presented the “Report to the Audit Committee”.

Mr. LaCour explained the audit process and that it was completed in accordance with the engagement letter.  It should be noted there were no material weaknesses found on SSE’s internal controls and an unmodified opinion was issued.  However, COVID-19 and its impact on our operations has presented a challenge and is noted throughout the statements.

  1. Executive Session

Dr. Urbanski requested the staff to leave the meeting room to allow the Audit Committee time to discuss any relevant matters with the auditors.

  1. ACTION ITEM: Acceptance of the Audited Financial Statements for 2019/2020

Dr. Urbanski moved to approve the 2019/2020 audited financial statements. Ms. Porter seconded the motion. The statements were accepted unanimously.

  1. Other Non-Action Items

Mr. Urbanski requested a bound paper copy of the 2019/2020 audited financial statements.

The meeting adjourned at 1:57pm.