County of Chautauqua Industrial Development Agency (CCIDA)
AUDIT COMMITTEE
201 W Third, Jamestown, NY
February 11, 2019
2:00 p.m.
CCIDA Staff Present:
Richard Dixon, CFO
Kayla Strandburg, Controller
Committee Members Present:
Mike Metzger- phone
Hans Auer
Also Present:
Dave DiTanna, BWB- phone
Justin Isaman, BWB
Peter Mrazik, BWB
Meeting was called to order at 2:05 p.m.
DISCUSSION
Justin reviewed a PowerPoint discussing the scope of the audit and their responsibility.
Dave said changes include revenue recognition and capitalized lease standards. These will be looked at; however, they don’t take effect for a few years.
Dave also said that because of the AL Tech Loan fund, we are required to do a Federal Single Audit again this year, confirming new loans and balances of paid off loans.
Structure of PILOT agreements with windfarms and Athenex will be looked at to determine recognition of revenue.
Major events 2018:
Windfarm PILOTS
Sale of Harrison Street
Dunkirk Airport FBO
Mike discussed the possibility of an internal control evaluation.
Audit Committee to meet March 19th, 2019 at 1:30 pm
Audit Presentation – March 26th at Board Meeting.
Meeting adjourned – 2:52 p.m.
