MassVentures
Minutes
Audit Committee Meeting
Date and Time
Thursday October 17, 2024 at 8:00 AM
Location
https://us02web.zoom.us/j/84364415564?pwd=Sc5GnsGUZTiH1xFxSx8OAaHf1hx7ah.1&from=addon
Meeting ID: 843 6441 5564
Passcode: 575690
---
One tap mobile
+16469313860,,84364415564#,,,,*575690#
---
Dial by your location
• +1 646 931 3860
Committee Members Present
B. Linville-Engler (remote), B. Shim (remote), J. O'Reilly (remote), S. Stanton (remote)
Committee Members Absent
C. Bouthot, D. Schultheis
Guests Present
C. Hipwood (remote), J. Madison (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
J. O'Reilly called a meeting of the Audit Committee Committee of MassVentures to order on Thursday Oct 17, 2024 at 8:02 AM.
II. Audit Process Discussion
A.
Review overall audit process for fiscal year 2024 including presentation Katz, Nannis & Solomon PC
B.
Review valuation policies and practices
Mr. Solomon and Ms Pratt reviewed the portfolio company policies and practices and shared changes in both realized and unrealized gains and losses. Discussion ensued.
III. Approvals
A.
Recommend approval of the audit report to the Board of Directions
J. O'Reilly made a motion to Recommend approval of the audit report to the board of directors.
B. Linville-Engler seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| S. Stanton |
Aye
|
| D. Schultheis |
Absent
|
| J. O'Reilly |
Aye
|
| B. Linville-Engler |
Aye
|
| B. Shim |
Aye
|
| C. Bouthot |
Absent
|
B.
Approve portfolio valuations
J. O'Reilly made a motion to Approve portfolio company valuations as presented.
B. Linville-Engler seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| B. Shim |
Aye
|
| B. Linville-Engler |
Aye
|
| C. Bouthot |
Absent
|
| D. Schultheis |
Absent
|
| S. Stanton |
Aye
|
| J. O'Reilly |
Aye
|
IV. 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 8:25 AM.
Respectfully Submitted,
J. O'Reilly
Jeff Solomon and Sarah Pratt of Katz, Nannis and Solomon joined the audit committee meeting via zoom to discuss the overall audit process and findings. Discussion ensued.