Board Meeting Dates

I.

Call to Order

II.

Adoption of the June 13, 2014, Audit Committee Meeting Agenda (Discussion/Action)

III.

Special Issues - Audit Entrance Conferences
Presenter: Don Moya, Chief Financial Officer and Georgie Ortiz, CliftonLarsonAllen

A.

Albuquerque Public Schools External Audit for Fiscal Year ending June 30, 2014 (Discussion)
Presenter: Don Moya, Chief Financial Officer and Georgie Ortiz, CliftonLarsonAllen

I.

Statement on Auditing Standard No. 114: The Auditor's Communications to Those Charged with Governance

II.

Auditor's Responsibility Under Generally Accepted Auditing Standards (GAAS)

III.

Planned Scope and Timing of the Audit

IV.

Schedule of Monthly External Audit Progress Meetings

B.

21st Century Public Academy Charter School External Audit for Fiscal Year ending June 30, 2014 (Discussion)
Presenter: Don Moya, Chief Financial Officer and Georgie Ortiz, CliftonLarsonAllen

I.

Statement on Auditing Standard No. 114: The Auditor's Communications to Those Charged with Governance

II.

Auditor's Responsibility Under Generally Accepted Auditing Standards (GAAS)

III.

Planned Scope and Timing of the Audit

IV.

Schedule of Monthly External Audit Progress Meetings

IV.

Consideration to Adjourn to Executive Session pursuant to the Open Meetings Act NMSA 1978, § 10-15-1 (H) and NMAC 2.2.2.10 (J) (3). NMAC 2.2.2.10 (J) (3) provides that "Neither the IPA nor agency personnel shall release any information to the public relating to the audit at the time of the exit conference or at any other time until the audit report has been officially released by the State Auditor and becomes public record" (Action)

V.

Reconvene to Open Session

VI.

Statement of Closure

VII.

Adjournment

I.

Call to Order

The meeting was called to order at 7:30 a.m.

Present: Michael Reeves, Susan Wrons, Winston Brooks, Lorenzo Garcia, Steven Michael Quezada, Dr. Analee Maestas, Don Moya, Dr. David Peercy and Dr. Don Duran.

Absent: Martin Esquivel and Kathy Korte

II.

Adoption of the June 13, 2014, Audit Committee Meeting Agenda (Discussion/Action)

Dr. Don Duran amended the agenda to remove items IV., V. and VI. due to the fact that there was no business requiring an executive session.  Dr. Analee Maestas motioned for adoption of the June 13, 2014, Audit Committee meeting agenda. Steven Michael Quezada seconded the motion. Committee members unanimously adopted the June 13, 2014, Audit Committee meeting agenda.

III.

Special Issues - Audit Entrance Conferences
Presenters: Don Moya, chief financial officer, and Georgie Ortiz, CliftonLarsonAllen

Chief Financial Officer Don Moya introduced the external auditors, Georgie Ortiz and Matt Bone, from the firm of CliftonLarsonAllen.  Don Moya also introduced Tami Coleman, APS executive director of Accounting, who is in charge of the audit for APS. Ms. Coleman informed the committee that this is the third year of a three-year external audit Request for Proposal (RFP) award. Ms. Coleman stated that 21st Century Public Academy Charter School’s audit will be reported on at the APS Audit Committee meetings because APS has assumed fiscal responsibility for 21st Century Public Academy Charter School.

Mr. Bone explained and gave details about Items III.A. and III.B. below.

A.

Albuquerque Public Schools External Audit for Fiscal Year ending June 30, 2014 (Discussion)
Presenter: Don Moya, Chief Financial Officer, and Georgie Ortiz, CliftonLarsonAllen

I.

Statement on Auditing Standard No. 114: The Auditor's Communications to Those Charged with Governance

II.

Auditor's Responsibility Under Generally Accepted Auditing Standards (GAAS)

III.

Planned Scope and Timing of the Audit

IV.

Schedule of Monthly External Audit Progress Meetings

B.

21st Century Public Academy Charter School External Audit for Fiscal Year ending June 30, 2014 (Discussion)
Presenter: Don Moya, Chief Financial Officer, and Georgie Ortiz, CliftonLarsonAllen

I.

Statement on Auditing Standard No. 114: The Auditor's Communications to Those Charged with Governance

II.

Auditor's Responsibility Under Generally Accepted Auditing Standards (GAAS)

III.

Planned Scope and Timing of the Audit

IV.

Schedule of Monthly External Audit Progress Meetings

Ms. Coleman drew the attention of the Audit Committee to the calendar of Audit Committee meeting dates included in their Audit Committee meeting packet. Mr. Bone stated that initial test work and risk assessment is scheduled to begin on July 14, 2014, and continue for three weeks. Mr. Bone reported that the auditors will return for final test work on August 24, 2014, for four weeks, to be followed by approximately one month of final review. The fiscal year 2014 audited financial statements are expected to be turned in to the Office of the State Auditor by November 3, 2014.

Dr. Peercy asked Mr. Bone about the process by which the auditors select their test work samples. Mr. Bone stated that the sample process is followed as required by OMB (Office of Management and Budget) Circular A-133. The auditors use software that selects a random sample of transactions for test work. If an issue is discovered in a sample transaction, additional samples are selected.

Dr. Duran asked the auditors, Ms. Coleman, and Mr. Moya to keep the Audit Committee up to date on the progress of the audit, especially with regard to the timely production of requests by outside entities.

IV.

Consideration to Adjourn to Executive Session pursuant to the Open Meetings Act NMSA 1978, § 10-15-1 (H) and NMAC 2.2.2.10 (J) (3). NMAC 2.2.2.10 (J) (3) provides that "Neither the IPA nor agency personnel shall release any information to the public relating to the audit at the time of the exit conference or at any other time until the audit report has been officially released by the State Auditor and becomes public record" (Action)

V.

Reconvene to Open Session

VI.

Statement of Closure

VII.

Adjournment

Steven Michael Quezada motioned for adjournment. Dr. Analee Maestas seconded the motion. The meeting adjourned at 7:40 a.m.