CCIDA

CCIDA facilitates development by attracting new businesses, while promoting the retention and expansion of existing businesses.

201 West Third Street, Suite 115
Jamestown, NY 14701
Tel: 716-661-8900
Email: ccida@ccida.com

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CCIDA Audit Committee Minutes- March 20, 2017

December 6, 2017

County of Chautauqua Industrial Development Agency (CCIDA)

AUDIT COMMITTEE

200 Harrison Street, Jamestown, NY

March 20, 2017

10:00 a.m.

CCIDA Staff Present:

Kevin Sanvidge, Adm. Director/CEO – via phone

Richard Dixon, CFO

Sue Casel, Adm. Assistant

Committee Members Present:

Mike Metzger

Hans Auer

Kelly Farrell DuBois

Also Present:

Dave DiTanna, BWB

Justin Isaman, BWB

Meeting was called to order at 10:02 a.m.

Mike Metzger

 

I would like a motion to accept the February 9, 2017 minutes.

Hans Auer

So moved.

Kelly Farrell DuBois

Second

Mike Metzger

Ayes all around. Minutes are passed

DISCUSSION

 

Dave DiTanna noted there were no significant changes. The Independent Auditors Report received a clean unqualified opinion. He reviewed the draft audit in detail. Noted the disclosures included in the document.  Pages 3-8 (Management Discussion Analysis) give a good overview of the Audit. Dave discussed the reduction in Net Assets due to timing of Pilot payments this year.

Dave discussed the increase in Revenue for the CCIDA because of a grant from Chautauqua County and Fees from large projects. CREDC had an increase in both Revenue and Expense because of the LECOM Health Challenge. Dave also discussed the various notes to the financial statements and noted we do have a wide variety of projects in any one year.

Dave reviewed the supplementary information in the Audit report. He discussed the fact that the LECOM Health Challenge had very detailed reporting.

Dave reported that there were no Findings or Questioned costs as well.

 

Justin Isaman

Reviewed the Management Letter with the following suggestions:

  1. Add loan collateral position to the Loan Review spreadsheet.
  2. Monthly review of cash disbursement journal by Treasurer.

Justin reviewed with the committee the three additional notes from last year and how we had complied with all of the suggestions.

Justin also reviewed the auditor’s responsibility and planned scope and timing of the audit.

Audit Presentation – March 28th at Board Meeting.

Meeting adjourned – 10:40 am

Filed Under: Audit Committee Meeting

CCIDA Mission and Goals

The CCIDA is an economic development organization authorized and empowered by the State of New York to make Chautauqua County a better place to work, live, and visit. We facilitate development by attracting new businesses, while promoting the retention and expansion of existing businesses. Assistance in the forms of incentives – tax abatements, low interest loans, and bond financing – enhances the opportunities for job creation and retention by our businesses. Business … Learn More

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    716-661-8900
  • Address
    201 West Third Street, Suite 115
    Jamestown, NY 14701

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