HDC - Item 2A - Minutes 04-24-07MINUTES OF THE REGULAR MEETING
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
APRIL 24, 2007
President Tran called the Regular Meeting of the Rosemead Housing Development Corporation to
order at 7:00 p.m. in the Conference Room of City Hall, 8838 E. Valley Boulevard, Rosemead,
California.
Vice-President Nunez led the pledge to the flag and Director Low led the invocation.
ROLL CALL OF OFFICERS:
Present: Director Clark, Low, Taylor, Vice-President Nunez, President Tran
Absent: None
1. PUBLIC COMMENTS FROM THE AUDIENCE - None
, 2. CONSENT CALENDAR
A. Minutes
December 19, 2006- Regular Meeting
DIRECTOR TAYLOR MADE A MOTION, WITH A SECOND BY VICE-PRESIDENT NUNEZ to
approve the minutes. Vote resulted:
Yes: Clark, Taylor,Nunez, Tran
No: None
Abstain: Low
Absent: None
B. Authorization to Seek Proposals for Audit Services
The California government Code requires that an independent audit of the City of
Rosemead's records, books, and inventories be conducted and a report issued
thereon. The City's current auditor McGladrey & Pullen has performed the audit
for more than 20 years. The current contract ended after audit services for fiscal
year ending June 30, 2006.
The City Manager has employed the services of a new Chief Financial Officer
whose objectives include improving the reporting capabilities of the City of
Rosemead. The services provided by the independent auditor are to support the
City's reporting function as well as to provide ongoing technical support when
necessary. The contracting of a new independent auditor will facilitate the
successful completion of the City's objectives.
Housing Minutes 4-24-07
Page 1 of 2
• •
Recommendation: That the City Council authorize the City Manager to seek
proposals to contract with a new public accounting firm to-perform the annual
audits of the financial statements of the City of Rosemead, the Rosemead
Community Development Commission, and the Rosemead Housing Development
Corporation. In addition, the accounting firm will also perform the audit to satisfy
the requirement imposed by the Single Audit Act and the U.S. Office of
Management and Budget (OMB Circular A-133).
C. Bank Signature Cards
The City of Rosemead requires several different bank accounts to efficiently
operate its financial matters. Authorized signers on the City's bank accounts
include all Councilmembers; City Clerk; City Manager; Assistant City Manager and
Chief Financial Officer. Banks require new signature cards to be completed upon
any changes in the list of authorized signers.
Recommendation: That the City Council authorize Chief Financial Officer, Lise
Pedote be named as a signer on the various City of Rosemead Bank Accounts,
replacing the name of the former Chief Financial Officer.
VICE-PRESIDENT NUNEZ MADE A MOTION, WITH A SECOND BY DIRECTOR LOW to approve
items B and C. Vote resulted:
Yes: Low, Taylor,Nunez, Tran
No: Clark
Abstain: None
Absent: None
3. MATTERS FROM THE PRESIDENT & DIRECTORS - None
4. MATTERS FROM THE EXECUTIVE DIRECTOR & STAFF - None_
5. ADJOURNMENT
There being no further action at this time the meeting adjourned at 7:05 p.m.
Respectfully submitted: APPROVED:
Corporation Secretary PRESIDENT
Housing Minutes 4-24-07
Page 2 of 2 ,