MassVentures
Minutes
MassVentures FY 2020 Audit Committee
Date and Time
Wednesday October 14, 2020 at 8:00 AM
Location
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Meeting ID: 558 451 3919
Passcode: 308
https://us02web.zoom.us/j/5584513919?pwd=MHYwVncvSWJ6dHlmdE8rR1BmdjdMdz09&from=msft
Meeting ID: 558 451 3919
Passcode: 308
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+13126266799,,5584513919#,,,,,,0#,,308# US (Chicago)
+19292056099,,5584513919#,,,,,,0#,,308# US (New York)
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+1 301 715 8592 US (Germantown)
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+1 669 900 6833 US (San Jose)
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Meeting ID: 558 451 3919
Passcode: 308
Committee Members Present
A. Stolba (remote), J. O'Reilly (remote), J. Turner (remote), M. Attia (remote)
Committee Members Absent
C. Bouthot
Guests Present
C. Hipwood (remote), J. Madison (remote)
I. Opening Items
A.
Record Attendance
Ms. O'Reilly determined attendance via roll call.
B.
Call the Meeting to Order
J. O'Reilly called a meeting of the Audit Committee Committee of MassVentures to order on Wednesday Oct 14, 2020 at 8:01 AM.
II. Audit Committee
A.
Review overall audit process for fiscal year 2020 including work performed by Katz, Nannis & Solomon PC
Mr. Madison reviewed the audit process for fiscal year 2020 including work performed by Katz, Nannis & Solomon.
B.
Review valuation policies and practices
Mr. Madison reviewed the MassVentures' valuation policies and practices. Mr. Madison noted that the policies and procedures are the same as prior years.
C.
Review final valuations of investment holdings for fiscal year ended June 30,2020
The committee reviewed the valuations of investment holdings for fiscal year 2020. Mr. Madison noted that there were no changes to the valuations as presented to the Board on September 10, 2020.
D.
Approve portfolio valuations
J. Turner made a motion to Approve the investment holding valuations.
J. O'Reilly seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| M. Attia |
Aye
|
| J. O'Reilly |
Aye
|
| J. Turner |
Aye
|
| C. Bouthot |
Absent
|
| A. Stolba |
Aye
|
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 8:17 AM.
Respectfully Submitted,
C. Hipwood