Camino Nuevo Charter Academy
Minutes
Audit Committee
Date and Time
Thursday October 29, 2020 at 1:00 PM
Location
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Meeting ID: 944 0616 6317
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Meeting ID: 944 0616 6317
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+1 669 900 9128 US (San Jose)
+1 346 248 7799 US (Houston)
+1 253 215 8782 US (Tacoma)
+1 312 626 6799 US (Chicago)
+1 646 558 8656 US (New York)
+1 301 715 8592 US (Germantown)
Meeting ID: 944 0616 6317
Find your local number: https://caminonuevo-org.zoom.us/u/alQLImymo
In accordance with Mayor Garcetti's "Safer at Home" City Order (Link) and Governor Newsome's State Executive Order( Link) CNCA will be holding Board Meetings via ZOOM video conference and telephone. No physical CNCA school locations will be open to the public.
This meeting is open to the public through the telephone 1 (669) 900-9128 (US Toll) and ZOOM video conference. To ensure meeting safety, there will be an online ZOOM waiting room set up for participants 10 minutes prior to the meeting. Attendees will be welcomed in prior to the start of the meeting at 1:00 pm. The waiting room will be checked regularly so that anyone joining the meeting late can still join.
Members of the public who wish to address the Board regarding items on this agenda or who need special accommodations should contact Leylani Lira in the Chief Executive Officer’s office at 213-417-3400 ext. 1401 or Leylani.Lira@caminonuevo.org. Speakers are limited to no more than 2 minutes each. Speakers may also sign up in person the day of the meeting.
This meeting is open to the public through the telephone 1 (669) 900-9128 (US Toll) and ZOOM video conference. To ensure meeting safety, there will be an online ZOOM waiting room set up for participants 10 minutes prior to the meeting. Attendees will be welcomed in prior to the start of the meeting at 1:00 pm. The waiting room will be checked regularly so that anyone joining the meeting late can still join.
Members of the public who wish to address the Board regarding items on this agenda or who need special accommodations should contact Leylani Lira in the Chief Executive Officer’s office at 213-417-3400 ext. 1401 or Leylani.Lira@caminonuevo.org. Speakers are limited to no more than 2 minutes each. Speakers may also sign up in person the day of the meeting.
Committee Members Present
A. Abich (remote), C. Smet (remote), E. Heggen (remote), L. Russell (remote), T. Stanton (remote)
Committee Members Absent
None
Guests Present
C. Quane (remote), C. Zeigler (remote), Marlen Gomez (remote), S. Ito (remote), Sonia Oliva (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C. Smet called a meeting of the Audit Committee Committee of Camino Nuevo Charter Academy to order on Thursday Oct 29, 2020 at 1:03 PM.
II. Audit Committee
A.
2019-2020 Audit Report
Marlen Gomez, CLA, reviewed required communications to the CNCA Board and discussed:
- Recent accounting standards.
- CLA did not encounter any issues with management during the audit engagement.
- Marlen Gomez, CLA, led a presentation and group conversation of the independent auditor's report.
- Opinion - Unmodified, which is a clean opinion.
- Consolidating Statement of Financial Position - $119M Total Liabilities & Net Assets
- Consolidating Statement of Activities - $1.7M Net Income
- Consolidating Statement of Cash Flows - Indicates increase in cash
- Consolidating Statement of Functional Expenses - Program, Management & Fundraising expenses discussed
- Reviewed Footnotes
- Reviewed State Compliance
- Reviewed Federal Single Audit
- Reviewed Entity Financial Statements
- Reviewed Independent Auditor's Letter on Internal Controls - Clean letter
- Reviewed Independent Auditor's Letter on Single Audit - Clean Letter
- Reviewed Independent Auditor's Letter on State Compliance - Clean letter
- Schedule of Findings and Questioned Costs -No findings and designated as a low risk auditee
L. Russell made a motion to Make recommendation to CNCA Board to approve 2019-20 Audit.
E. Heggen seconded the motion.
The committee VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| L. Russell |
Aye
|
| E. Heggen |
Aye
|
| C. Smet |
Aye
|
III. Other Business
A.
Audit Firm Selection Fiscal Year 2020-2021
L. Russell made a motion to Select CLA to lead 2020-21 audit engagement.
C. Smet seconded the motion.
The committee VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| L. Russell |
Aye
|
| E. Heggen |
Aye
|
| C. Smet |
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 3:04 PM.
Respectfully Submitted,
C. Smet
Documents used during the meeting
- 6.30.20 CNCA Audited FS Draft 10.22.20.pdf