Making Waves Academy
Minutes
Audit Committee
Date and Time
Thursday November 19, 2020 at 2:00 PM
Location
Meeting ID: 838 3126 5176
Passcode: 434498
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If you have questions about the agenda and materials or you are in need of disability-related accommodations, please contact:
Si tiene preguntas sobre la agenda y materiales o necesita adaptaciones relacionadas con la discapacidad, comuníquese con:
Elizabeth Martinez at emartinez@mwacademy.org or 510-227-9856.
In accordance with Executive Order N-25-20 in the State of California, we will be hosting this meeting via teleconference.
Public Comment
The public may address the committee regarding any item within the subject-matter jurisdiction of the MWA governing board.
Under Public Comment, members of the public may
Under SB1036 the minutes from this meeting will omit student and parent names and other directory information, except as required by judicial order or federal law. If a parent/ legal guardian wishes a name be included, one must inform the board prior to their public comment. Please note that all agenda times are estimates.
Si tiene preguntas sobre la agenda y materiales o necesita adaptaciones relacionadas con la discapacidad, comuníquese con:
Elizabeth Martinez at emartinez@mwacademy.org or 510-227-9856.
In accordance with Executive Order N-25-20 in the State of California, we will be hosting this meeting via teleconference.
Public Comment
The public may address the committee regarding any item within the subject-matter jurisdiction of the MWA governing board.
Under Public Comment, members of the public may
- Comment on items on the agenda
- Comment on items not on the agenda
- Presentations are limited to one minute each, or a total of five minutes for all speakers.
- To submit your public comment, send your full public comment in email to emartinez@mwacademy.org.
- Your submission should indicate if it is a general public comment for the beginning of the meeting or a comment for a specific agenda item (please include the item number).
- All submitted public comments will be read out loud during the meeting.
Under SB1036 the minutes from this meeting will omit student and parent names and other directory information, except as required by judicial order or federal law. If a parent/ legal guardian wishes a name be included, one must inform the board prior to their public comment. Please note that all agenda times are estimates.
Committee Members Present
Alton B. Nelson Jr. (remote), Burak Gursel (remote), Hung Mai (remote), Wallace Wei (remote)
Committee Members Absent
None
Guests Present
Elizabeth Martinez, Lili Huang (remote), Lori Crawford (remote), Phil Gordon (remote), Ron Cohan (remote)
I. Opening Items
A.
Call the Meeting to Order
B.
Record Attendance
C.
Public Comment
No public comment was made.
II. Audit Committee
A.
Annual Audited Financial Statements for MWA
Ms. Huang reviewed the draft Independent Auditor’s Report and MWA financial statements with the Committee, noting that (i) she and her team had encountered no difficulties or disagreements in dealing with MWA management while performing and completing the audit of MWA financial statements; that (ii) no deficiencies were found, i.e., there were no findings or questioned costs; and that (iii) the financial statements, in all material respects, fairly present the financial position of MWA.
Following discussion, the Committee accepted and approved the Independent Auditor’s Report and
Financial Statements.
Following discussion, the Committee accepted and approved the Independent Auditor’s Report and
Financial Statements.
B.
Executive Session with Independent Auditor
The Committee met in executive session with Ms. Huang, with MWA staff excused from that portion of the meeting.
Future Meetings
The Committee affirmed plans to meet twice yearly with the independent auditors, (i) initially early in the calendar year to define a work plan and schedule for the annual audits, following Board approval /renewal of the outside auditor's engagement; and (ii) later in the calendar year, after annual audits have been completed and draft financial statements circulated to the Committee for review, to discuss the results of the audits - with further, internal meetings of the Committee to be scheduled as needed.
Next meeting: To be scheduled for February 2021.
The Committee affirmed plans to meet twice yearly with the independent auditors, (i) initially early in the calendar year to define a work plan and schedule for the annual audits, following Board approval /renewal of the outside auditor's engagement; and (ii) later in the calendar year, after annual audits have been completed and draft financial statements circulated to the Committee for review, to discuss the results of the audits - with further, internal meetings of the Committee to be scheduled as needed.
Next meeting: To be scheduled for February 2021.
III. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 2:45 PM.
Respectfully Submitted,
Elizabeth Martinez
Minutes were submitted by Lori Crawford but uploaded to BoardOnTrack by Elizabeth Martinez post-meeting.